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Protection Offered To Outbuildings And Garages By Home Insurance Quotes
2010-08-27
A home insurance quote is intended to give a consumer an idea of just what it will cost to ensure their home and all of its contents against damage or loss of use. These quotes can easily change as the homeowner negotiates with the insurance company and things such as discounts or the actual square footage of the home come into play. It is important for homeowners to know and understand just what it is that they are paying for and just what their policy will cover in the event that they need to make a claim. One question many new home insurance clients have is if garage protection and protection for their outbuildings is included in a basic insurance quote.
The fact is, a homeowner must not rely on the basic home insurance quote given to them in order to determine if their garage and outbuildings are covered. Instead, it is advisable to speak to an agent directly to determine if any garage protection is offered. Generally, there will be coverage extended, especially if the garage is attached to the home. Detached garages and even sheds may also be covered under a policy, but there is no legal requirement for this and each insurance company reserves the right to cover or not cover outbuildings as they see fit. Again, never assume that any portion of a property is covered until you have seen it in writing.
Even if outbuilding or garage protection is offered, it may take one of several forms. The first is one in which garages and outbuildings will have their own separate policy limits apart from the home itself. This means that if they are damaged, a claim against them will not affect the amount that will be paid out for your home. The downside is that individual limits for pieces of property tend to be quite low, and once the money is used, the insurance company will pay for no more of the repairs, regardless of the cost. This can be expensive, especially if the garage or outbuilding has been converted into a home office or studio. For that reason, some companies offer single limit coverage for their home insurance policies, which allows any part of the property to take advantage of the entire annual limit of coverage. This allows for greater flexibility in how insurance payout dollars are spent.
While not every company will offer garage and outbuilding protection, most home insurance quotes will come with some variant of it or option for it. Consumers must simply be diligent about knowing what their policy covers, for how much, and under what circumstances their policy can be used.