Farmington Hills Homeowners Insurance

Your Farmington Hills homeowners insurance standard, or traditional, policy is designed to protect the homeowners, your personal property, and your home in the event of loss of use due to destruction or damage. Your Michigan coverage will also protect your interests in the event someone is injured while on your property. This kind of liability insurance is in place so that if someone were to take a spill, suffer a dog bite, or experience damage to their property while at your home, they would be compensated for any loss or medical bills.

Of course, you are aware that, in the event of a flood or fire, or similar devastation, your Farmington Hills homeowners insurance would rebuild your home and replace your contents as stated in your Farmington Hills, MI policy. But what about the not so obvious property? Should you assume that, if lightening strikes your storage shed, causing a fire which resulted in the loss of the structure and all the contents, you would be covered in the same way your home is protected with Michigan house insurance?

Insuring Your Outbuildings

Providing Farmington Hills homeowners insurance is the smartest way to protect that which you hold dear. You know that no amount of financial compensation will replace your cherished possessions should they succumb to flood or fire, or some other devastating event. However, your Farmington Hills homeowners insurance will go a long way toward safeguarding your investment value.

Making sure you have the most thorough coverage is the joint responsibility of you and your Farmington Hills insurance agent. Before you sign off on your policy and start the premium payments, make absolutely certain you understand fully what is covered and what isn't. Should you require additional policies for items of extreme value, such as expensive jewelry, musical equipment, or tools, you'll need to secure those policies immediately.

But what about additional structures that may exist on the grounds of your property? What if you have a storage shed, a garage and a gazebo? Will you need additional policies for them as well? How much should you expect this to increase your homeowners premiums?

While there's no simple answer to these questions, it is true that most standard Farmington Hills homeowners insurance policies provide coverage for only the home structure and that which is within the home. In many cases garages, outbuildings, and their contents are not covered. Even attached garages, although considered part of the structure, may not be figured into your home's square footage. The contents of the garage may not be considered among your personal property, and therefore, not protected.

Determining Value

You can obtain additional policies to provide coverage for your garage as well as any other structures on your property. Depending on the number of outbuildings and their usage, you could drive up the cost of your Farmington Hills homeowners insurance significantly. The size of your buildings will also have an impact on the amount you'll pay for Farmington Hills homeowners insurance.

What do your additional out buildings hold? Is the property something you want to insure? For instance, if you have a storage shed with some well-used landscaping equipment, you may think twice about obtaining a Farmington Hills homeowners supplemental policy. Weigh the cost of the structure, and it's contents, before you take on what could end up being a costly Michigan homeowners insurance payment for you, the homeowners. Only you, the policy owner, will be able to ascertain the building and it's contents true value.

The best way to assess the cost effectiveness of insuring your Farmington Hills, MI outbuildings is to add the value of that outbuilding into the initial quote request. When you seek quotes for your Farmington Hills homeowners insurance policy, do so by attaching your additional coverage so that you can decide the affordability of insuring your additional buildings. This way you can take the time to truly consider the added value of insuring your outbuildings.

Should you have additional structures on your property which shelter irreplaceable or expensive items, you definitely want to make sure you're protected. If it's not the shelter itself ,o much as the contents, speak to your homeowners insurance representative about obtaining a specific rider for the shelter's contents. Some items, because of their high value, may need to have a separate policy in any event. For further information, ask your Farmington Hills, MI insurer.

Contact your Farmington Hills homeowners insurance to obtain quotes for expanding your poly to include named outbuildings and additional personal property. Review your coverage often and update your hazard insurance accordingly. You may find a review necessary as you make changes to your home, and it's surrounding property. As your Michigan lifestyle changes and grows, so should your Farmington Hills homeowners insurance.

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