You have dreamed researched and saved. Now you're ready to undergo weeks or months of dust and pounding to see your remodeling project realized-whether it's a kitchen, bathroom, deck, porch, addition or whatever.

Before the first swing of a hammer, it's a good idea to discuss your home's insurance with your insurance agent.

In general, if your remodel or addition will cost $5,000 or more, a policy review is in order. Without a policy update, you could find your home underinsured.

You may need additional coverage to protect your home and family from losses while work is being done.

If you're a do-it-yourselfer or are rely- ing on the help of family and friends, confirm with your agent that you have adequate personal liability insurance.

You may need to add a personal liability umbrella policy to protect you beyond the typical homeowners policy liability. If you're hiring professionals to do the work, make sure their insurance is up to date and that they are properly licensed and bonded. Your Insurance agent can advise you if the  contractor's insurance is adequate, or if there are any exposures created by the renovation.

Avoid doing business with contractors who don't carry the appropriate insurance. Otherwise, you could be held liable for any injuries and damages that occur during the project.

Has your remodeling project already been completed? Then you definitely want to make sure your new-and- improved home is properly insured.

For many people their home is their most valuable possession.

Americans spent an estimated $150 billion on home improvements and repairs in 1999, according to the Joint Center for Housing Studies of Harvard University and the U.S. Census Bureau. That accounts for about 2 percent of the gross domestic product.

Considering that one-in-four home remodeling projects increase the value of a home by more than 25 percent, it just makes sense that a homeowners policy should be updated.