For many people the only way to financially protect their home if an unexpected event occurs is to purchase the appropriate Tampa insurance coverage. But what about detached structures on your property, do you know for certain your insurance coverage extends to them?
The most common detached structures are gazebos, garages and tool sheds and they’re usually covered by a standard homeowner’s insurance policy. A typical policy provides ten percent of your home’s coverage as compensation if your detached structures are ruined. This means, if your home is insured for five hundred thousand dollars your detached structures coverage may be fifty thousand dollars.
Keep in mind that every insurance policy may differ and this may not be in the terms and conditions of your homeowner’s insurance policy. Should your detached structures be worth more than this amount it might be worthwhile increasing your policy’s coverage amount.
It’s extremely easy to pay your Tampa insurance premiums and forget to reassess your protection, but it’s an important responsibility to check your insurance policy at least once a year and increase coverage if necessary. Why spend your hard earned money on a policy that doesn’t provide you with complete protection?