Should You Add "Additional Structures" Coverage To Your Home Insurance Policy?

Home insurance is often required when you have a mortgage and will protect your home from all sorts of disasters. However, you may need to purchase additional coverage if you have another structure that is not directly attached to your home. This is referred to as "other structures" coverage and is an additional policy you will need to select.

Why You May Need More Coverage

Insurance coverage for external structures is important. While losing a shed is not as devastating as losing a house, external structures are sometimes more vulnerable and are more likely to be damaged by strong winds. Having coverage will give you peace of mind that you will be forced to pay out-of-pocket.

Structures Most Often Covered

The type of structures that are often covered by "other structures" coverage includes:

• Detached garages
• Fences
• Gazebos
• Sheds
• Pools
• Any other kind of structure

If you're not sure if a home insurance policy covers a particular structure, make sure to contact a representative and they will explain exactly what you need.

You Might Already Be Partially Covered

Even if you do not purchase "other structures" coverage, your regular home insurance policy may still cover external structures. However, this is only up to a certain percentage of your total coverage for your home, and not all insurance providers cover external structures. If you want to make sure that your external structure is covered, you will need to purchase additional coverage.

For example, if a strong windstorm blows away your fence, you would then file a claim with your home insurance provider. If you have "additional structures" coverage, they would reimburse you after you have a new fence constructed.

Events That "Additional Structures" Coverage Will Protect You From

The situations in which structures will usually be covered under a home insurance policy include:

• Fires
• Vandalism
• Falling objects
• Explosions
• Adverse weather

Depending on the location of your home, there might be specific hazards you may be concerned about. Make sure to contact your home insurance provider so that you can verify that you will be covered or if you may need to purchase additional coverage. 

Coverage for Personal Property

Even if your external structure is covered, you may need extra coverage for the possessions stored in the structure. This is especially true in the case of garages and sheds. To have your belongings covered, make sure to also purchase personal property coverage so that these items can be replaced.

To learn more, contact a homeowners insurance provider in your area.