A common question about homeowners insurance

Here at E. R. Munro and Company, our clients often ask us the best questions. Here’s one such question that may be helpful for all homeowners:

Q:  I just had a $3,000 shed installed in my backyard. Do I need to notify you about insuring it?

A:  Homeowners insurance automatically insures other structures on your property for a percentage of the insured value of your home. These other structures cannot be used for business purposes or rented to others.

This percentage can be 10, 20 or even 30 percent of the insured value of your home. If you look at your homeowners policy and your home is insured for $150,000, chances are, you have at least $15,000 in protection for an outbuilding.

If you have any questions about your homeowners coverage, please give E. R. Munro and Company a call at 1-877-376-8676, Ext. 136. Nadine will answer any questions you may have about homeowners insurance. You may also email us at [email protected].