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Wondering if your shed or garage, and the things you keep in it, can be covered by insurance? We outline how it works and things to keep in mind.
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To some, a shed or garage is just a storage space; a home for bikes, tools and other recreational items, like camping gear and beach accessories. To others, they’re a creative oasis, a place where hobbyists hone their skills working with ceramics, wood, or restorations. Then, there’s the fitness crowd, who use their shed or garage as a space to build strength and endurance. Whatever your shed or garage is to you, it’s understandable you want to protect it. Here, we outline how home insurance could help, and some things to be aware of.
While it might not be a policy exclusively for sheds, it’s possible to cover your shed (or garage) alongside your home, and the things you keep inside of it with home insurance.
Remember, policies and inclusions can differ between insurers. Check with your insurer and the Product Disclosure Statement (PDS) for the specific terms, coverage and conditions that may apply.
Based on the name alone, you might think that building insurance only covers the structure of the home you live in. Well, we’ve got good news. Alongside your home, some building insurance policies also include cover for other permanent fixtures on your property, like garages and — you guessed it — sheds.
This means the structure of a permanent shed or garage on your property could be covered for the same insured events your house is covered for, such as:
Keep in mind, NRMA Insurance doesn’t provide standalone cover for a shed or garage.
If you’re looking to insure the belongings you keep inside your shed or garage, then you might like to consider contents insurance (or a combined home building and contents policy).
Contents insurance helps cover items in your home in the event they’re damaged or destroyed by a policy-listed event, such the ones listed earlier. It can also cover some of the things you keep in your garage or shed. Be sure to check the Product Disclosure Statement (PDS) for items that may not be covered, such as some watercrafts and certain types of sporting equipment (like ones that require registration).
To help make sure your shed or garage is covered along with your home:
If you use your shed or garage for business purposes, a home insurance policy may not be appropriate or adequate. For information on key considerations for people running a business from home, take a look at our article on home insurance vs business insurance.
Information is current as at the date of publication and may be subject to change. All content on the NRMA Insurance Blog is intended to be general in nature and does not constitute and is not intended to be professional advice. It does not take into account your individual objectives, financial situation or needs. References to third-party organisations, products, services or brands on the NRMA Insurance Blog are for informational purposes only and do not imply any affiliation with or endorsement by NRMA Insurance, unless expressly stated otherwise.
