Coverage for detached structures
After the trend changed because of some economic factors, and houses started being built with detached or additional structures, the insurance companies had to adjust their policies to include home insurance other structures coverage. Although a lot of homeowners usually wish to take out this part from their insurance plans, it is important to understand what it covers or entails.
What Is Covered
This part of the home insurance coverage refers to the other parts of your home and not the building itself. It covers payments for damages incurred on other structures apart from your house itself. For instance, a detached garage, a gazebo, tool shed, an in-ground swimming pool, driveway, and a fence if damaged, are replaced or repaired by the coverage plan based on this insurance policy.
Usually, the coverage policy on all these other structures depends on a percentage of the residential dwelling coverage. When choosing a homeowner’s insurance plan, check to make sure that the limitations and conditions are aligned with whatever improvements or conditions you choose to make for your home.
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Important Things to Keep in Mind
Other structures coverage comes with some limitations and important things to keep in mind. Consider these points before deciding on other structures coverage in your homeowners insurance policy.
- If no other structures belong to the homeowners that are parts of their current insurance premiums
- Addition of limitations to the insurance policy coverage on other structures connected or around the residential dwellings
- You have the option of either total removal or additional charges to the homeowners insurance premium for unused and unneeded structures constructed
This was not the case before. The reason for all these changes was that back in the late 20th century, there was a hike in the prices of houses and unavailability of sufficient land, and extra cost for building homes. This caused the way houses were built and valued to change, and so a change in the insurance policies of many companies was adjusted to fit this new trend.
Property coverage on these other structures is also for the same type of unforeseen events that could damage your building and properties with just a minor difference. Issues like fire, federally declared disasters, vandalism, crash, falling objects, etc.
Review the coverage and limitations included well to know if the additional insurance coverage on other structures is worth adding to your homeowner’s insurance policies. The reason is that a lot of insurance companies have different policies concerning their other structures coverages.
To learn more about home insurance give one of our agents a call at (509) 242-3244 or visit us at https://www.kbgagency.com/personal/homeowners-insurance/