I had written a blog post recently regarding the dangers and pitfalls of un-permitted renovations, i think i may have neglected to mention the potential issues with insurance. changes to wiring and structural elements may limit your claims or leave you under-insured. i saw this public service ad in the paper and hunted it down online :
cheat sheet version
1 get a permit or at least make sure you don,t need one, document conversation and with whom
2. let insurance know you r changing it either way and that you have checked regarding permits
3 Get a REPUTABLE BONDED contractor and at least 3 quotes if possible. check them out online. satisfied and other customers often leave comments on yelp! or BBB sites.
4 make sure you are mitigating any water penetration issues first BEFORE you drop big $ on the reno- failure to do so may leave you with a bad claim history.
my basement is calling for a reno and i have a lot of ideas, not all are supported by management here at the Hacienda Hacking. no matter what you do find out if you need a permit and if you need to address your insurance or other coverages
credit to www.newscanada.com