Backyard structures and home insurance

Understanding the coverage for backyard structures like sheds, detached garages, or swimming pools under your homeowners insurance policy is crucial. These structures often fall under the category of “other structures” in a home insurance policy, but the specifics can vary.

 Sheds and Detached Buildings

– Coverage Limits: The insurance coverage for structures like sheds or detached garages can differ between policies. It’s important to check your policy details to understand the extent of coverage provided.

– Notification: Inform your insurance agent or company about these structures to ensure they are adequately covered. 

– Rebuilding Costs: Consider the rebuilding costs of these structures when purchasing your insurance to ensure sufficient coverage.

– Contents Coverage: Items stored within these structures are typically covered under your policy, but there might be limits. For high-value items, consider a Personal Articles Policy to extend coverage beyond the standard homeowners policy limitations.

 Swimming Pools

– Liability Coverage: Owning a pool increases liability risks, necessitating a review of your liability coverage. You might need to increase your liability limits or obtain an umbrella policy for additional protection.

– Safety Measures: Implement safety features like a secure fence with self-closing, locking gates, enforce pool rules, install non-slip surfaces, ensure adult supervision, and keep safety equipment handy to mitigate risks.

– Compliance: Verify that your pool and its fencing comply with local safety regulations and standards to avoid potential legal issues.

– Damage Coverage: Discuss with your insurer how your policy covers pool-related property damage to understand your protection against various incidents.

 Fences

– Coverage Type: Fences usually fall under “other structures” coverage. However, compensation for fence damage often depends on the policy type and the fence’s material, and it might be paid at actual cash value (reflecting depreciation) rather than replacement cost.

To ensure comprehensive protection for your home and associated structures, thoroughly review your insurance policy. Understand the coverage limits and types, and consider consulting with an insurance agent to explore options for adequately insuring all aspects of your property, including potential policy bundling for home, auto, and life insurance.