LAS VEGAS - nvtip -- Other structures coverage pays for damages to structures other than your house. This is part of a standard homeowners insurance policy, providing valuable coverage in the event of a covered loss. Understanding your other structures coverage can help you ensure that it is adequate for your needs.

Does Your Homeowners Insurance Policy Have Other Structures Coverage?
If you have an HO-3 or HO-5 homeowners insurance policy, which are the most common types of homeowners insurance, you already have other structures coverage. However, each plan has its own rules about the level of coverage it provides. In most cases, the other structures coverage is based on a percentage of your dwelling coverage, generally 10-20%. For example, if your house is covered up to $400,000, your other structures coverage may be $40,000-$80,000, depending on your policy.

In Nevada, the law does not mandate other structures coverage. However, if you have a mortgage, your lender may require that you carry this coverage.

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What Does Other Structures Coverage Include?
As the name suggests, other structures coverage includes buildings and structures that are not part of your house. This may include fences, detached garages, sheds and gazebos. In most cases, other structures coverage is "open peril," meaning that damage is covered unless it is specifically excluded by your policy. As an example, your policy likely excludes damages caused by earthquakes or flooding.

This coverage also does not apply to damages caused by normal wear and tear or neglect. If your shed's wooden foundation experiences termite damage or rot from gradual water damage, your policy will not pay for damages. On the other hand, if a tree falls on your fence, your other structures coverage will pay for repairs.

Read the full article: https://www.nevadainsuranceenrollment.com/other-structure-insurance/

Learn more: https://www.nevadainsuranceenrollment.com/auto-insurance-las-vegas-nevada/

Nevada Insurance Enrollment
4260 W. Craig Road suite #150-A
North Las Vegas, NV 89032
(702) 898-0554
Website: NevadaInsuranceEnrollment.com