A home insurance policy’s other structures coverage assists in paying for the repair or replacement of structures other than your home, such as a fence, if a covered risk harms them. For instance, if a tree fell on your detached garage, the coverage for nearby structures might help cover the cost of repairs. Here are a few things to consider about other Structure’s coverage. If something is damaged, such as a fence, shed, or detached garage, the other Structure’s Coverage can cover the cost.
The same risks that affect your home are usually also covered for other buildings on your property. Therefore, your fence would likely be protected from such threats if your residence insurance also covers risks like theft, fire, falling items, and vandalism. To learn what risks your policy covers, read your policy.
You may find that other structures’ coverage is based on a percentage of your dwelling coverage, the Insurance Information Institute says. So, for instance, if you have $300,000 in dwelling coverage, which applies to your house and attached structures, you may have up to $30,000 in coverage for your fence and other unattached structures on your property. Suppose you’re making improvements to your property, such as adding a gazebo. In that case, you may want to review your other structure’s coverage limits to help ensure you have enough protection in place to help pay to repair or replace unattached structures after a covered loss.
Personal property coverage in a homeowners insurance policy typically helps protect belongings regardless of where you keep them, so you’ll likely find you have coverage for items you store in a detached garage, for instance. You can usually adjust your personal property coverage limits based on your particular needs.
Your insurance provider can help you review your existing coverage so you can determine whether it makes sense for you to make any changes to your policy.
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