Does Homeowners Insurance Cover Shed?
Although most insurance policies are very similar and the main homeowners contract form is usually written by the Insurance Services Office (ISO), all insurance companies have different endorsements and available options which cause insurance policies to be different.
Garden sheds, gazebos and detached garages are covered by Coverage B – Other Structures on your homeowners insurance policy. Other Structures is one of the coverage items included on the homeowners insurance package. This valuable coverage will typically have a limit equal to 10% of the Dwelling Coverage on the home. For example, if the home is covered for $250,000 (Dwelling), it would be most common to see $25,000 (Other Structures).
The shed will be covered against the perils included in your policy; for instance: fire, lightning, wind, hail, vandalism etc… The policy deductible will apply to the coverage and will be deducted from any payout following a claim. If the shed is a fancier than normal variety, perhaps with a couch, television or exercise equipment, it is important for you to make sure that you have enough Other Structures coverage on your policy. Most insurance companies will allow you to increase the Other Structures limit in order to have sufficient coverage for all detached structures in the event of a loss.
Regarding the contents of the shed, those would be covered by Coverage C – Personal Property on your homeowners insurance policy. Personal Property is listed with limit on the insurance declarations page; this limit has conditions and sub limits which can be found in the policy contract.
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