It’s time for spring – we are all waiting for the last snowfall, that moment when you know that spring is here and winter is over. In Wisconsin, it seems to take a long time to get here. That’s why many of us spend March days looking for ideas and making plans for spring projects. Whether you’ve been to the home and garden show or just see your friends making changes, it’s important to keep your home insurance agent in the loop about what you are doing.
Does Landscaping Really Matter?
Home insurance does not typically cover your landscaping. For example, it covers structure-based features. It generally does not cover features such as:
- Retaining walls
- Rocks and landscaping areas
- Plants
- Trees
- Raised garden beds
- Fire Pits
These types of changes to your home are not usually something you need to let your insurance agent know about. However, if you are putting a sizable amount of money into them, keep in mind they do not generally have protection. Some policies will cover cleanup after a covered event like a storm, but they do not generally replace these features.
Your Other Structures Insurance
The main reason for this is to make sure your projects are all properly covered by your home’s insurance plan. Your policy has two major portions.
- Coverage A – Dwelling: It provides coverage up to a stated maximum amount for the structure itself, your home and other permanently attached features.
- Coverage B – Other Structures: This covers structures on your property. The maximum here is often just 10 percent of the Coverage A amount.
That means if you have a home that’s worth $200,000, your other structure coverage is worth about $20,000. Now, let’s say that your spring project is to build a large garage on your property. It may contain a workshop, store your vehicles, or be used for other reasons. In all cases, this is going to be a large investment. If it costs you $30,000 to build this structure, you’ll be limiting your coverage. If a fire occurs, for example, you would only receive $20,000 in coverage, not the full $30,000 you need to replace it. That’s a problem.
Our goal is to make sure we update your policy to reflect the value of any structures you add to the home. It’s always a good idea to let us know when you are making these changes.
What Types of Structures Could This Include?
It includes any type of structure you add that’s value. If you lost it, could you easily replace it affordably? Most often, these are the types of projects that fall under Other Structures coverage:
- Garden Sheds
- Garages
- Fences
- Gazebos
- Pools
- Decks
Our goal is to be sure you have ample protection in place for these types of structures. With a simple phone call to our team, we can assure you.
Don’t Forget Special Structures
Another concern has to do with special structures. Sometimes, these are higher risk additions to your property. They may need to be specifically mentioned in your policy to make sure claims are covered on them. Here are some examples:
- Pools
- Outdoor kitchens
- Outdoor fireplaces
- Outdoor fire pits
Let our team add these to your policy and verify your protection. It is the best way to minimize any risk to you if you have to file a claim.
At Homewood Insurance Agency, we are here to speak to you. What is on your to-do list this spring? Do any of those projects warrant changes to your policy? We can let you know when you give us a call.
