Have you insured the valuables in your garden and garage?

Have you insured the valuables in your garden and garage?

Have you ever taken time to think about the value of the items you keep in your garden, shed, or garage itself? Garden ornaments, bikes, top-of-the-range BBQ, power tools, a stash of booze, perhaps?

Many people are stashing thousands of dollars of costly items in gardens, garages, and sheds – but have never contemplated having them insured just in case an accident such as fire or theft takes place.

Garage and garden

The average shed or garage houses more than $1500 of stuff on average. Items stored in garages include DIY kits, family heirlooms, as well as immense liters of alcohol. Gardens, meanwhile, contain valuable accessories including ornaments, heaters, and hammocks, equivalent to $2000 on average per household.

Summer cover

Gardens and garages are usually a target for burglars especially in summer, as they look out for pricey tools, tandems, and other equipment. Therefore, it is good to confirm with your insurance to see if these equipment are covered, and for how much.

In some instances, the cover limits, offered by your contents policy is not sufficient, so you have to talk with your insurance to increase the cover. This is particularly the case if you use your shed or another outbuilding as a gym, home office or just as living space.

Policy details

If you got very pricey stuff in your gardens, ensure you check what the insurance companies refer to as “single item policy”.  Most companies require anything valued above a certain amount of money (let’s say $2000) to be listed separately.

You should also be aware of what you policy states about liability cover. If for instance, you had a bonfire and inadvertently a spark destroyed your neighbor’s fence, you might be sued. This kind of damage can only be compensated if you already have a liability cover in place.

Protect yourself

Do not make your shed or garden tempting to burglars by leaving lots of stuff on show. Also, ensure any outbuildings are appropriately locked so that you are not an easy target. Install strong locks on home, lock gates, mend broken fences and even plant thorny bushes around the perimeter to make it complicated for burglars to break in.