The tri-state area of New Jersey is home to many tree service companies. Because renting commercial space is not always necessary, many business owners store large and expensive equipment in a home garage or behind a privacy fence in their yard. While homeowners’ insurance may help cover some losses, whether your equipment is protected depends on several important factors.
Understanding Additional Property Coverage
It is important to confirm whether your homeowners’ insurance policy includes coverage for personal property stored in your yard. Standard dwelling coverage is designed to protect the home itself and attached structures, such as garages. Coverage for items stored outdoors, including equipment, varies by policy. An agent at Rock Insurance Services can review your policy and explain what is and is not covered.
Coverage Limits Matter
Tree service equipment in Medford, NJ can be costly to replace. Unfortunately, most homeowners’ insurance policies place relatively low limits on personal property coverage. These limits are generally intended for household items like patio furniture, swing sets, or stolen electronics, not high-value commercial-grade equipment. As a result, relying solely on homeowners’ insurance may leave you significantly underinsured.
The Need for Commercial Insurance
For business owners, the best protection often comes from carrying both homeowners insurance and commercial insurance. A commercial policy can provide coverage specifically designed to replace business equipment, while homeowners’ insurance can continue to protect the dwelling and personal property, such as a fence or garage structure.
Working with Rock Insurance Services can help you secure the right combination of coverage to protect your tree service equipment and your home. Contact us today to discuss your options. We proudly serve clients in Medford, NJ, and throughout the surrounding tri-state area.