Homeowners need insurance to protect the houses they live in, but a homeowner's house isn't the only thing on their property that they need insurance for. Thankfully, home insurance policies can protect more than a property's primary dwelling. If you're considering a new home insurance policy, make sure you find one that provides protection for your home and everything else on your property. Here are some of the other items you may have that need to be insured.
Secondary Structures on Your Property
In insurance terms, a house is typically considered a residential property's primary structure. Secondary structures are other, typically smaller structures. Depending on a property, they may be anything from a fence or shed to a detached garage or guest house.
As you consider a home insurance policy, make sure it'll provide protection for all of the secondary structures that are on your property. Exactly what secondary structures you need insured will depend on your property. For instance, you don't need an insurance policy that will protect a guest house if the only secondary structure you have is a fence. The policy you get, though, shouldn't leave any secondary structures unprotected
Belongings Inside Your Home
Most home insurance policies include personal property coverage, which is used to protect the belongings that are kept inside the insured home. Depending on a policy's terms and conditions, this may include the following:
As you review a policy, make sure it provides protection for the belongings you have in your home. Most policies include coverage for everyday items, but you'll want to make sure the limits chosen for this coverage are sufficient for what you own.
Collectibles and Valuables in Your Home
Collectibles and valuables kept inside your house are a special type of belonging that deserve their own mention -- and are often treated uniquely by home insurance policies. Many home insurance policies have specific limits or potential exclusions for items like:
- Silverware (made from actual silver)
If you have any particularly valuable or collectible items, check whether the home insurance policy you're considering will insure them. Some policies will provide plenty of coverage, while others may only offer the coverage you need as an optional add-on that increases the policy's price. You'll want to know if you need to pay more for a particular coverage before you purchase a home insurance policy.