Lynn Butterfield, Coldwell Banker Harris McHaney & Faucette-RogersPhone: (801) 550-6334
Email: [email protected]
Email: [email protected]
Other structures coverage is a portion of your homeowners insurance policy. As the name suggests, it protects other structures on your property, either attached or detached.
For a greater understanding of how structures coverage works, here are the basics:
Structures like fences, gazebos, detached garages and in-ground pools all count as "other structures."
These structures are generally covered for the same perils as the rest of your home. These covered perils include fire, falling objects, theft or vandalism, snow and ice damage.
However, some policies include other structures coverage under an "open perils" policy. This provides coverage for any event which is not specifically excluded.
A standard homeowners policy usually includes other structures coverage as a percentage of your main dwelling coverage. The average percentage is 10%, but you can increase your coverage if necessary.
For example, if you've added a high-value structure to your home, you might consider changing your policy to include more protection.
It's best to talk to a homeowners insurance agent for all the details about other structures coverage and the associated limits. They'll help you decide how much coverage you need to keep your assets protected.
Lynn Butterfield is an Associate Broker at Coldwell Banker and is a Certified Real Estate Negotiator. Mr. Butterfield has 41 years of experience in real estate sales and development. His vast experience ranges from luxury sales through commercial sales and leasing. Perhaps more importantly, he focuses his attention on client success, whether he's helping someone buy their first home, or working with a developer seeking assistance to create and position a large project in the marketplace. One recent client said, "Working with Lynn is almost like working with a Real Estate Attorney, because he knows exactly what to look for, so you can be protected!" Another first-time home buyer just said, "I needed someone to hold my hand through this because it's the largest investment we'll ever make! I know he isn't in this just to make a quick buck. He really cares about his clients!"
Whether you're in the research phase at the beginning of your real estate search or you know exactly what you're looking for, you'll benefit from having a real estate professional by your side. He would be honored to put his real estate experience to work for you.
