Do you have a she-shed, separated garage or a distinct storage structure on your Mount Prospect, IL property? If so, it’s not unusual to wonder whether your basic structures are covered under homeowners insurance. There is an addendum called "other structure coverage that pays for repairs or replacement in certain situations. Structures damaged by a covered risk may be covered to help pay for repairs or replacement. Here are some considerations concerning structure coverage.
What Is Considered An Outdoor Structure?
When the winds kick up or a storm rolls through, your home itself is a primary concern. However, these weather conditions or other acts of nature can also damage outdoor implements such as:
- Detached Garages
- Gazebos & Pergolas
- In-Ground Swimming Pools
If covered, these structures will fall under the "other structures" addendum in your policy, along with the same perils as your home. Ensure your policy covers theft, falling objects, fire, and vandalism.
How Much Does My Policy Cover for Other Structures
Other structure coverage is often based on a percentage of the coverage on the dwelling. For example, if you have $400,000 in home insurance coverage, other structures not attached to the home reimbursements are approximately $40,000. This is why it’s essential to review and update with Com-Co Insurance Agency Inc. before making high-dollar additions. You’ll appreciate having this coverage in place should there be a loss.
Looking for Homeowners Insurance in Mount Prospect, IL?
We make ensuring that you have adequate coverage easy, and it all starts with a great real estate broker. Whether buying or selling, view the overall cost/savings, and our Com-Co Insurance Agency Inc. agents will ensure your investments are adequately insured for your peace of mind. Contact us today!