Sometimes known as Coverage B, Other Structures Coverage is a section of your home insurance that covers the cost of rebuilding or repairing structures on your property that are not your main home. For most people, this means structures that are detached such as outdoor entertainment areas, a gazebo, large sheds, and even your swimming pool.
In most cases, when you get a standard home insurance policy about 10% of the total dwelling coverage is the amount to protect additional structures. So, if your home is covered for $100k, $10k is delegated to additional structures, but this may not be enough if you have multiple additional structures, so it’s best to look into this coverage a little more.
What You Should Know
As we stated above, with the knowledge that only 105 of your total home structure coverage is allocated for additional structures, you should discuss with your insurance agent if that’s enough to cover your structures. For example, it may be enough to cover your gazebo, but not your pool. Maybe it will cover your BBQ area, but not the BBQ itself.
The more you understand what the coverage is limited to, you can make a considered choice about what you’d like to protect and where additional coverage may be needed.
Find Ways To Cut Down
If you find that your insurance premiums are starting to rise due to adding more and more coverage, you should take steps to mitigate the risks and maybe consider not insuring everything.
This includes making sure there are no large trees near your structures, or reinforcing buildings and investing in pool covers to protect your investment without a need for further insurance.
Home Insurance is A Package Deal
Remember that your insurance is a total package, so you need to make the best combination to get the best possible insurance coverage for the best possible price. This takes a lot of effort as it requires a great knowledge of the state insurance legalities and what insurance companies are doing. This is why an independent agent is a good idea. They can help you understand all the different types of coverage beyond just Other Structure Coverage and how it can come together as a whole. This is where the cheapest Albany NY insurance company comes in.
Want More Guidance?
If you want to look into adding Other Structure Insurance to your existing insurance plan or want to bundle your insurance, it’s time to reach out to the independent agents at NY Insurance Hub. With their experience and background in helping New York locals, they understand the state legal requirements and can help you navigate this world.
Ready to get started? Call or visit their office now!
NY Insurance Hub Agency
125 Wolf Rd STE 404 Albany,
NY 12205 518-783-0105
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