Meanwhile, if you're treating yourself to a new kitchen or bathroom, be sure to notify your insurance provider before you start.
If your remodeling project is major, you may need to consider a builder's risk policy, which will protect your home from damage that's incurred during construction, including vandalism, theft of materials, and wind and rain.
Dig into the details of your construction crew's insurance policies.
Make sure that your contractor has sufficient liability coverage to protect you in the event they damage your home, said Loretta Worters, vice president for the Insurance Information Institute in New York.
Confirm that your contractor is carrying workers' compensation coverage, too. These are details that you can request, Worters said.
Hold on to your receipts, copies of contracts and photos from before, during and after your remodeling job. You'll need to forward these to your insurance company and discuss raising your coverage after the revamp.
"The cost to rebuild your home is more, because now you have a brand-new kitchen that you'll need to fully replace," said Worters.