Sometimes, you have used up all of the space that you have inside of your home. When this happens, and you need extra space, you will either need to remove some of the items from your home, or you will need to gain more space. One of the easiest methods for gaining more space is to get a shed outside. When it comes to sheds, you have a lot of different options. You can have thee shed built to your specifications, or you can select a ready-made shed and put it down to your yard. No matter what shed choice you make, you will need to get insurance coverage on your shed. Here is how you can go about the insurance process:
Make a list of everything inside of the shed
After the shed is on your property and you have it completely decorated to your liking, take into account everything that is inside of the shed. Be sure to keep any receipts for new products in a filing folder for the shed itself. If you can, take photos of all of the items to go along with the receipts. This will show the model of the product in the event that you have to make a claim for its value. Homeowners insurance companies will be better able to determine how much is in the shed in order to underwrite the appropriate insurance value.
Be sure it meets any fire safety codes
Just because you are not living in the shed does not mean that it won't have specific fire safety codes. Fire codes may determine that your shed needs to have a window, proper door, and fire extinguisher. Be sure that you look up the fire codes for your town and follow every ordinance. Any building that does not follow proper fire safety codes may not be eligible for a homeowner police or eligible to receive compensation in the event of a claim.
Establish it on your existing policy
Though it is possible to get insurance for the shed on its own, it is best to get the shed on your current homeowner's policy. If you have a long-standing homeowners insurance policy, you may be able to add the shed for up to 10 percent of the current policy amount. If this is not enough, you should consider an increase in the value of your overall policy. The increase in the policy amount may only require several dollars more in the monthly premiums.
Check out a website like http://www.statefundhomeinsurance.com for more information and assistance.
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