Garage Contents Insurance
Are You Fully Covered?

Do you even need garage contents insurance? I'll try to cover some of the variables in this article and perhaps you will then have an idea of what you are looking for when you read your building and contents policy.

Many people underestimate the value of the contents of their homes. Studies indicate that the average family owns personal property worth thousands of dollars without even knowing it. The reason behind this fact, is that most items within the home are acquired over a long period and are not disposed of.

Destructive Tornado

One may therefore overlook the cost of their electrical appliances, mobile phones, paintings, jewelry and so forth until when faced with the prospect of buying them all at once.


Such an eventuality may occur in the form of disasters such as floods or fire or even theft. During such times, insurance policies that cover property and buildings come in handy.

Insurance companies have different types of insurance policies to cover the home. Some companies include contents of the building in the building insurance policy, while others only regard the building literally as the shell of the house. The roof, the windows, the doors and any other immovable parts of the house are included in such a policy.

The risk of insuring your home with such a policy is quite high. You will not receive any compensation for any contents in the building for this is regarded as being ‘movable’. The garage and shed are also included among the buildings of the home as they are immovable yet outbuildings may not be automatically included in the coverage unless specifically listed in the policy.

A policy that covers buildings without contents puts all your property at risk including vehicles, motorcycles, bicycles, gardening tools and lawn mowers and other valuables. Don't forget the liability coverage.

Can Garage Contents Insurance Provide the Coverage You Need?

Taking a homeowners insurance policy that includes the building as well as its contents is the best solution. It will definitely cost more. You must make an inventory of all items in your home. The only exception to this list is high value items such as expensive jewelry and paintings. Such items need an additional policy rider.

Taking building and contents insurance may be sufficient for most people. However, those with high value items in their garages are better off taking up a garage contents insurance policy. This policy will cover many items such as cars, motorcycles, bikes and any other expensive item in the garage such as tools and equipment.

You need to install an elaborate security system before taking up this policy. The garage should be fitted with surveillance cameras, security lights and alarm systems. This is important because the insurance company will factor these safeguards when computing your premiums.

The presence of such gadgets implies lower risk thus leading to lower premiums. However, in the absence of such safeguards, insurance companies regard the property as a high-risk investment and therefore charge high premiums to cover potential risk.

Before purchasing the coverage, be sure to go through the entire garage with a paper and pen and write down the contents thereof. Go round again and ensure you have all the items on your list. It is a good idea to take photos or video as well. Record all model and serial numbers on everything in your garage and keep a copy off-site.

Prior to penning your signature on the dotted line, ensure that you understand all the provisions of the policy and agree with them. If you are satisfied, commit yourself as garage contents insurance will provide peace of mind and secure your assets against loss through fire, floods or theft.

Garage Liability Insurance is usually for people who own some kind of repair shop or business garage. It can cover the operations of the garage and the surrounding premises, all products, and completed work.

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