Is Your Shed Covered by Your Homeowner’s Insurance?

Storage ShedMany of us who own a home also have a shed in our backyard.  Sheds are convenient for storing items that you don’t have room for in your house or garage including lawn equipment, furniture, bicycles, tools and other valuables. Some of these items are extremely expensive and would be costly to replace if damaged or stolen so you want to be sure they are covered under your homeowner’s insurance.

Unfortunately, not all insurance policies automatically cover a shed just because it is on your property. You’ll want to read the details of your policy and look for “other structures” to be covered, along with the percentage. Some policies will insure your shed and its contents up to a certain amount, for example 10% of your home’s value. If you store expensive equipment or tools in your shed, that 10% may not be enough. Just as you do for your home, take an inventory of everything you store in your shed, along with its value and a photo. If the total cost to replace those items and the shed itself add up to more than the percentage covered by your policy, you’ll want to purchase additional coverage.

Be prepared before that next windstorm hits and have your valuables protected with the right insurance solutions for your needs. To find out if your shed is covered on your homeowner’s policy or to learn more, contact us at (877) 529-0077.

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