When you purchase a home in Lakewood, Colorado, you want to make sure you also purchase a home insurance policy that covers your dwelling and attached structures as well as the contents of your home and liability against any claims that may be filed against you.
Included in any standard home insurance policy in Lakewood, Colorado, is dwelling and attached structures coverage. The dwelling is your main home and attached structures are any additions such as a porch or screened in patio that are built on the same foundation as your dwelling.
If your home or the attached structures to your dwelling are damaged by a covered peril in your homeowners policy, you can file a claim and receive compensation for repairs or replacement.
As a homeowner, you should be aware of the limitations of your insurance coverage. You may have a deductible to first meet before you can receive any money for a claim. You may also be improperly insured if you do not have replacement cost coverage because, like almost everything else, your home depreciates in value and it costs more to repair and replace everything.
Another concern that you should address when reviewing your dwelling coverage is for other structures that are not attached to your house. Generally speaking, any structure that is not built on the same foundation as your main dwelling is considered to be a detached structure.
Most Lakewood Colorado home insurance policies will provide coverage for structures that are not attached in the amount of 10 percent of the coverage on the dwelling. For instance, if you have $100,000 of coverage on your dwelling, other structures like a detached garage, storage shed, or retaining wall, will have a combined coverage of $10,000.
As your independent agent, we would advise you to come in for a review of your home policy to see if you have the right amount of protection for your dwelling and all other structures on your property. If need be, you can pay a little extra to increase the amount of coverage for your separate structures.