If you have home insurance is your yard covered?

pay extra or refinance

pay extra or refinanceHome insurance can be costly, which is especially important if you are on a tight budget, so you need to know exactly what it covers when you purchase it. Most home insurance policies refer to your dwelling being covered, but what exactly is your dwelling?

Normally your dwelling will be regarded as the building in which you reside and any of the structures attached to it. Any structures that are not attached will usually be regarded separately. Each situation is different, read more at HBF

Are my yard, and the items in it, covered?

Your yard is regarded as part of your dwelling so it is covered by your home insurance. For many people a yard is an extension of the home; especially during the summer months when barbecues are a popular event. This means that a yard is also a place where there may be a lot of items that are important to you; such as the barbecue set itself. These items are regarded as personal possessions in your dwelling and are also covered by your home insurance policy. 

You should try and take all of the sensible precautions you can to protect these items but your policy will not normally include anything that states they have to be chained or locked up. If you have any items of high value in your yard then you should speak to your insurance provider about whether you need to pay an extra in addition to your normal premium, much as you would if the item was inside your home. 

What about structures within my yard?

You may think that it would make sense for all of your out buildings to be covered by your home insurance, if they are situated in the yard which is covered; this isn’t necessarily the case. If these buildings are not attached to your home in any way there is a good chance they will not be regarded as part of your dwelling and as such will need to be insured separately. 

You should always ask your insurance provider about the inclusion of these buildings when you are purchasing your home insurance policy; otherwise you may be in for a nasty shock when you try to make a claim. 

So what should you remember about home insurance and what it includes?

If you take out insurance on your home it will normally cover your dwelling, any structure that is attached to it, and any yard space that you have. It normally won’t automatically include any other structures on your land, such as sheds

It’s also important to note that only your own belongings are covered by your home insurance. This is because you don’t have a financial interest in someone else’s property. You should remember this if you agree to store an item in your back yard that belongs to someone else. You are taking the risk of this item being stolen or damaged with no home insurance provision to replace it.