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Home > Home Insurance > Does Your Home Insurance Cover Your Backyard Shed? Does Your Home Insurance Cover Your Backyard Shed?Author: Florin Ciobanu As a home owner, one of your biggest responsibilities is having home owners insurance to help protect your investment. When it comes to home owners insurance, you'll find a variety of different options available that range in prices and coverage. Understanding exactly what your insurance will and will not cover can be a bit complicated. Many of the terms can be confusing and it can be difficult understanding the way the policy is written. For this reason, many home owners don't have a clue what their policies cover inside the home much less if it covers their backyard shed and its contents.If you're like many people, you have valuable items stored in your shed. It could be anything from lawn and garden equipment to collectibles that you don't have room for inside the home. Not only are the contents in the shed of value to you but the building itself can be very expensive to replace. It's important to know whether or not these items will be covered if they sustain damage. Normally, your backyard shed will be covered by your homeowner's policy because it's considered real property. In most cases, outdoor structures are covered for ten percent of the value of the main structure, which is the home itself. This is usually a sufficient amount to cover any damage done to the structure and its contents. The actual amount of coverage that you'll receive is predetermined when the policy is first issued. However, you may be responsible for letting your insurance company know that you do have a backyard shed and if your fail to do this, they may not cover it. Most standard policies cover damage caused by the following: fire, lightning, smoke, theft, vandalism, hail, wind, ice and explosions to name a few. Most policies don't cover flood damage unless you request it specifically and even then, some companies may not offer it. For this reason, it's important to know exactly what your home owners insurance covers because you never know when you may need it. If you have any questions, talk to your agent and have them explain things to you. Do you have a backyard shed? Other Recent Insurance Smart Book Articles:
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