Ovation Home Insurance Exchange outlined on Mar. 13 the details of Coverage B in homeowners insurance policies, focusing on protection for structures not attached to the main home.
Coverage B is designed to insure detached garages, pool houses, fences, storage sheds, and other separate structures that add value and function to a property. The company said these structures can face risks from storms or falling trees, making it important for homeowners to understand what their policy covers.
According to Ovation Home Insurance Exchange, Coverage B is typically calculated as a percentage of the insured value of the main dwelling (Coverage A). Policyholders can select limits ranging from a minimum of 2% up to a maximum of 15% of Coverage A. Optional selections include 5% or 10%, and some may choose to exclude this coverage entirely depending on their needs.
The company highlighted that Florida homes often feature outdoor structures such as pergolas, detached garages, and pool equipment buildings. These are especially vulnerable during hurricane season when strong winds can cause significant damage. Ovation Home Insurance Exchange said reviewing Coverage B limits is an important part of evaluating overall property protection.
The insurer also clarified that Coverage B does not apply to damage resulting from gradual wear and tear or lack of maintenance. For example, deterioration over time or issues caused by neglect would generally not be covered under this section.
Ovation Home Insurance Exchange encouraged homeowners to review their property layout and consider whether their selected limit aligns with the value of detached structures present. The company advised consulting with an insurance agent for questions about specific policy options.
