Does Having an Attached Garage Add to Home Insurance Costs?

​Are you planning to build a garage onto your home? You may be thinking about the differences in an attached and detached garage.

It may be a good idea to speak to your home insurance agent about the difference. Various factors impact the cost related to each type of garage. You should know what to expect before you invest here.

Attached Garages Add to Your Home’s Value
Home insurance policies cover attached structures to the home. This generally includes a garage.

If your home does not have one, but you add one, be sure to let your agent know. He or she will need to upgrade the policy. It needs to match the new value of your home. Attached garages existing on a home have coverage already. They typically are not more expensive to insure, then.

Detached Garages Are Not Always Included
If you have a detached garage on your property, again, let your insurance agent know. These structures might not come automatically on your policy. You want to be sure your agent adds them.

This can add a bit more cost to your policy. However, it does not mean it will be very expensive. If you want the policy to cover losses at a detached garage, you need to have it listed on your policy.

What Is In the Garage Matters
Some people transform their garage. It goes from storage to a rec room. What you put into this space matters. For example, if you store entertainment equipment here, you need to be sure you have enough contents coverage on your home insurance policy. This will help cover the value of these items if lost.

You also want to consider any high risks in the garage. Do you store paint or flammable liquids here? This can increase the risk at the home. Your agent needs to know this, too.

Before You Build
Before you build or change the garage to your home, call your home insurance agent. Discuss the options available to you.

Be sure your policy represents the type of structure you have. This way, you gain protection for it. You also get protection for the items within it. Protect it from fires, theft, vandalism, and other risks. A quality home insurance policy is one you can rely on to keep your entire home safe from loss. This should include your garage spaces.

Blog Post by: ITC