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business Thursday 1 OcTOber 2020
Upgrading your space while stuck at home? Get it insured

By BEN MOORE of NerdWal- year — a written inventory numbers," he explains. "If
let is best, but even a simple an addition costs $20,000 to
As many Americans face smartphone video tour of put on, the insurance com-
months on end stuck in- your home will suffice. pany looks at the rebuild
doors, some are using their Losing a home is an emo- construction cost, and you
time (and money) to cre- tional time, Griffin says. might not get that back."
ate a change of scenery When it's time to file a AVOID PITFALLS
or upgrade their surround- claim, "you don't always On top of ensuring cov-
ings. Office equipment pur- remember what you have." erage, a proactive con-
chases are on the rise, and An inventory will clearly versation with your agent
people are tackling more show what you had before could help you avoid po-
renovation projects than a disaster and will make the tential renovation pitfalls.
usual.But expensive new In this July 21, 2020, file photo, a homeowner tours their new claims process easier. For example, he or she
stuff and significant home home, in Washingtonville, N.Y. ADD SUFFICIENT COVER- may advise adding build-
improvements can leave Associated Press AGE ing ordinance coverage to
you underinsured. If you're its. If your home costs more denied," he says. Structural changes, such as protect you from having to
considering making chang- to replace after you've A new desk and computer a full kitchen replacement pay out of pocket for any
es to your home — or if you improved it, some insurers for remote learning, plus or adding an in-ground expenses that keep your
already have — it's smart to will pay the new expense that monitor and chair in pool, will have the great- home compliant with local
revisit your homeowners or to rebuild, but "that's not your home office will add est impact on your hom- laws and regulations.
renters policy. Here's how every policy, and it may up and could exceed your eowners insurance. But For renovation projects that
to ensure it covers the new not cover everything you personal property cover- even something as simple are too big to take on your-
additions. need," Griffin says. He also age limit. as adding a fence can self, hire a licensed and
TELL YOUR INSURER ABOUT recommends once a year Renters insurance policies change the value of your bonded contractor who
YOUR PLANS reviewing what your home cover your stuff, but they house, and if your home's carries builders risk cover-
There's a good chance insurance policy covers. have limits too. If you have value increases, so should age to protect expensive
you're underinsured before In some cases, you may new electronics or office its dwelling coverage, Grif- construction materials from
you even make changes, need to change carriers equipment, check with fin says. Otherwise, in the theft or damage while they
according to Don Griffin, to get the coverage you your insurer to make sure event of a claim, your in- are on your property. You
vice president of personal need. Frank Jones, an in- you have enough cover- surance policy won't be can find one through a
lines at American Property dependent agent and age for them. enough to rebuild, accord- building trade association.
Casualty Insurance Asso- partner at Mints Insurance MAKE AN INVENTORY OF ing to Griffin. And when you're doing a
ciation. Talk to your insurer Agency in Millville, New Jer- YOUR PROPERTY When adding coverage, home renovation project,
before making any expen- sey, has seen clients switch To help you know if you've pay attention to how much take plenty of photos — be-
sive purchases or changes insurers because an addi- exceeded your policy lim- it would cost to rebuild fore, after, and along the
to your home to inform the tion wasn't covered. "It's in its, keep records of what your home, not how much way, if you're able. These
company of your plans your best interest to have you buy. In fact, Griffin rec- you spent to upgrade the could come in handy if you
and clarify your policy's these conversations now ommends taking inventory house, according to Jones. file a claim and need to
current coverages and lim- rather than to have a claim of your belongings every "These are two different redo the work.q

$215M in BP oil spill money to restore Louisiana marshes

BATON ROUGE, La. (AP) — ana's Coastal Protection lion cubic yards (12 million
Louisiana will get nearly and Restoration Authority. cubic meters) of dredged
$215 million in BP oil spill He said the Lake Borgne material to create about
money for two projects project near Shell Beach in 132 acres (53 hectares) of
planned to restore more St. Bernard Parish will cre- ridge and 1,700 acres (688
than 4,600 acres of marsh ate more than 2,800 acres hectares) of marsh. That
and other habitat in the (1,100 hectares) of marsh, will be the authority's larg-
New Orleans area, Gov. making it the largest area est dredging volume so far,
John Bel Edwards said. ever bid by the agency. Kline said.
Work should begin next The Louisiana Trustee Im- "The Mississippi River creat-
year on the projects, Ed- plementation Group ap- ed our parish and the many
wards said in a news re- proved $114.7 million for historic ridges of our land-
lease Tuesday. The money the project. scape," said Plaquemines
is from BP's $8.8 billion set- "This project will have imme- Parish President Kirk Lepine.
tlement for natural resourc- diate benefits to habitat for "These features protect In this Saturday, July 31, 2010, file photo, a ribbon of oil lines the
es damage caused by the fish and birds by reinforcing against storm surge, reduce bottom stalks of marsh grass at low tide in a cove in Barataria
blowout that killed 11 men the degrading southwest- saltwater intrusion, provide Bay on the coast of Louisiana. Associated Press
and spewed more than ern shoreline of Lake Borgne key habitats and also help
100 million gallons (380 mil- and Lena Lagoon," St. Ber- retain sediment. The marsh agreement totaling more the total at more than 176
lion liters) of oil into the Gulf nard Parish President Guy west of Venice has been in than $20 billion. It was million gallons (666 million
of Mexico in 2010, leaving McInnis said. "And we need need of this level of atten- based partly on the judge's liters), while BP estimated
long-lasting effects. all the natural marsh buffer tion for some time, and I estimate that the 87-day 102 million gallons (386 mil-
Both are part of larger res- we can build to lessen the know the people and busi- Deepwater Horizon spill lion liters).
toration plans, the group damaging effects of tidal nesses near Venice will ap- spewed nearly 134 million Edwards said the latest
overseeing Louisiana's action and storm surge." preciate this massive proj- gallons (507 million liters) projects make up the fifth
share of that settlement The $100.3 million Spanish ect and this tremendous of crude into the Gulf — major restoration plan ap-
noted. Each project will Pass project, near Venice investment." enough to fill the U.S. Capi- proved this year by trustees
set a record, said Chip in Plaquemines Parish, will The Oil Pollution Act settle- tol rotunda 13 times. for Louisiana's share of the
Kline, president of Louisi- use an estimated 16 mil- ment was part of a 2016 Federal experts estimated $8.8 billion.q