Monday, April 25, 2011

Looking at Insurance Part II: Other Structures Coverage

One question I get often is "Can we get rid of other structures coverage?" What the client is really asking is can we save some money and get rid of this since we don't have a detached garage or shed.

Other structures covers more than detached sheds and garages. It also covers fences, walls around the property, walkways, concrete patios,  pools, spas, outdoor BBQ's, etc. For most policies the coverage is set at ten percent of the dwelling value, (ie, dwelling value is $200,000, other structures would be $20,000) but you can increase this limit if you feel more coverage is needed, like for a large concrete patio.

But to get back to the question, "Can we get rid of other structures coverage?, some carriers allow you to eliminate this coverage. But would you want to? If a large fire took out your neighborhood, you would not only have to rebuild your home and replace your personal possessions, but also the fence around your home, the large patio and the spa.

No comments:

Post a Comment

Thanks for your comment. All comments are screened before they are posted to the blog.