It’s that time of year again when Oklahomans need to be weather aware. We have been saddened by how many of our customers have told us that they had lost their homes and ponds due to tornadoes. Luckily some of our customer’s ponds were covered by their homeowners insurance policy. Sadly, some customers had no coverage at all and didn’t know this until it was too late. This prompted me to do some research as to whether my own pond at my house was covered. Here is what I learned.
Most policies will cover things, such as ponds, up to a certain percentage of the value of your home. This is generally found under your “other structures” portion of your policy. Make sure you have enough coverage for any “other structures” that you may have such as a building or barn, plus your pond. I discovered that I needed to increase my “other structures” limit so that my pond would be adequately covered. The best advice I have for you is to check with your insurance agent before the storm. Being proactive might save you a lot of headache later on. Especially if your policy does not include any coverage for your pond.