Whether you’re buying your first home or adding to your property for the first time, it’s essential to understand other structures coverage. America’s Choice Insurance Partners in Wixom, MI guides homeowners through insurance and other coverage daily. Here’s what you need to know.
What is other structures coverage?
Like fire, hurricanes, and tornados, most covered perils don’t limit their destruction to your home. They might damage all of the structures on your property on their way through – like your fence, detached garage, gazebo, or in-ground swimming pool.
Other structures coverage protects the structures on your property that aren’t attached to your home from covered perils.
Like your homeowner’s policy, it’s important to note that whether your losses are covered depends on your policy. Other structures coverage is never available for renters since they don’t own the structures on the property they rent.
Do I have enough other structures coverage?
Any time you buy a home or modify your property, it’s important to meet with your insurance agent to review your coverage and ensure it meets your needs. Ask your insurance agent how much other structures coverage you have, so you can compare that to the value of your detached structures and purchase additional coverage if needed.
It’s helpful to know in advance the value of your outbuildings, specifically how much it cost to build them or how much it would cost to replace them today. It’s common for homeowners with multiple outbuildings to need additional coverage, and your insurance agent can walk you through the process.
Ready to get started? America’s Choice Insurance Partners in Wixom, MI is ready to help!