It’s time to think spring. Maybe if we think about it enough, the final days of cold winter weather will move out of the Sun Prairie area, and we’ll begin to be able to plan for flowers, trees, and other structures.
It’s important to provide a warning, though. Many of our clients embark on rather expensive and expansive projects at this time of the year. Things like garages, sheds, and perhaps even a new pool are all things you want to do around your home to add value and function. But, we don’t want you to make a mistake others make. If you do not let us know and include your new structures on your policy, they may lack coverage. Filing a claim, then, may leave you without the compensation you need. We can avoid that.
What’s the Problem with a New Garage?
Adding any new structure can be a very good thing. It can give you better function out of your home and adds value. But, it must be in your home insurance policy to provide financial protection to you. Here’s what can happen.
Look at your policy. Coverage A – Dwellings is the component that lists the amount of coverage you have for the structure of your home. Coverage B – Other Structures, provides coverage for other structures on your property that may not be attached to the house itself. Coverage B coverage is usually 10% of the value of Coverage A. That’s much less. If you plan to build a $50,000 large garage on your property, we need to make sure there’s enough coverage on your policy to protect that structure. If not, you could be forced to overcome losses from a fire, for example, out of pocket. That does not need to happen.
What You Need to Do
If you are planning to add a new structure to your home, give Brian Liddicoat Insurance a call. Our team is happy to answer all of your questions.
Which Projects Need to Be Added to Your Policy?
Most of the time, our homeowners do minimal work to their yards. Your home insurance policy covers the building and structures there. It doesn’t cover the land itself. That means, when you plan the following projects, you do not need to let us know:
- Adding a fire pit (though there can be some liability concern here)
- Adding raised garden beds
- Amplifying your home’s flowers and shrubs
- The addition of landscaping beds
- Adding trees
Which Projects Warrant a Call?
On the other hand, there are some projects we need to know about before you plan them. Our goal is to make sure your policy reflects the new structures well. This includes any of the following:
- The addition of or expansion of a home pool
- Outdoor kitchen additions
- Grilling areas
- Garages of all types
- Garden sheds of all types
The more information provided to us, the better. The good news is that these are often easy additions to your policy. Most of the time, it does not have to cost any or much more. However, going without these items listed on your policy is a risk. You do not want to be without coverage should you ever need to file a claim. We don’t want that to happen either.
Give Brian Liddicoat Insurance a call today. Let us provide you with a free quote or an update to your existing home insurance policy. We encourage you to do this before you start on the construction, but even after is okay.