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If you are lucky enough to have a second garage, shed or barn on your property in Pearland, TX, insurance has likely crossed your mind. Garages are of particular importance as they are often used to store automobiles, lawnmowers, weed whackers and other items of value.
What happens if the garage is damaged, collapses or is vandalized? What if it floods? A flood is especially problematic as it is likely to ruin everything inside. Here’s everything you need to know from the insurance team at Barry Insurance Group.
Flood Insurance and Second Garages
Standard federal flood insurance typically covers garages. Such coverage almost always extends to detached garages on the property.
However, there are caveats of note. In particular, such flood insurance typically covers a single detached garage on the property yet that coverage only goes up to 10% of the building coverage limit of the primary home.
More About the 10% Cap
As an example, if the primary home has $300,000 in building coverage, up to but no greater than $30,000 of the limit can be applicable to the detached garage. If you were to utilize this portion of coverage, it would decrease the amount of coverage available for the primary residence.
What About Additional Garages?
The language of flood insurance policies typically includes a limit for the number of structures. Standard policies usually extend the 10% coverage to only one detached garage. If you have even more detached garages or other “outbuildings”, they won’t be automatically covered by the policy.
Barry Insurance Group is on Your Side
Are you in the market for a house? Perhaps you already own one but lack sufficient insurance. The flood insurance professionals are a call away. Dial 281-464-3384 to learn more about flood insurance for Pearland, TX homeowners.