You’re someone who’s interested in homeownership off the grid, so you got yourself a yurt. That’s an exciting venture, but just because you’re not hooking up to electricity doesn’t mean your home is automatically risk free. Yurt owners face many of the same daily hazards as traditional homeowners like natural disasters, vandalism, fire damage, and more. Fortunately that’s where a type of home insurance known as yurt insurance comes to the rescue.
Yurt insurance helps off-grid homeowners enjoy peace of mind and a sense of security within their home, knowing that it’s protected. An independent insurance agent can help you get set up with the right yurt insurance for your specific needs. But first, here’s a closer look at this unique coverage.
What Is Yurt Insurance?
Regardless of where your particular home is located, yurt insurance is essentially an agreement between the yurt owner and an insurance company in which the insurer agrees to cover financial losses relating to damages and liabilities. Only the specific perils stated in the policy will be covered by the insurance company. Yurt insurance is designed to help protect owners from losing their home should disaster strike.
What Does Yurt Insurance Cover?
While yurts unquestionably have a unique construction, they’re still essentially just an alternate form of house. That’s why yurt insurance is set up pretty much the same way as traditional homeowners insurance with a couple of unique caveats tailored to your specific living style. Yurt insurance is designed to protect all elements of your home including not only the structure, but the contents and living family members inside.
Yurt insurance packages often include the following coverage:
- Dwelling coverage: This yurt insurance aspect covers your unit’s structural components including the lattice, felt or other fabric, windows, and the slab it all rests on.
- Personal property coverage: Covers your personal belongings like furniture, clothing, electronics, knickknacks, silverware, etc. that are stored within the yurt from perils such as fire or theft. Property stored off premises, such as in a storage unit, is often covered as well but comes with a lower limit.
- Liability coverage: Covers legal expenses such as attorney and court fees in the event you are sued for bodily injury or property damage to a third party. Settlements you’re ordered to pay if you lose the case are covered as well. Coverage extends to all members of the family living within the yurt, including pets.
These three components compose the core of yurt insurance packages. Working together with an independent insurance agent is a great way to get the right amount of coverage in each category for your unique home.
What Does Yurt Insurance Not Cover?
Just like any other kind of homeowners insurance, yurt insurance comes with a list of specified covered perils, as well as non-covered perils. Becoming familiar with what your yurt insurance policy doesn’t cover can save you the hassle of filing claims that are bound to get denied, and in the event of certain non-covered natural disasters, help you find the right kind of policy to protect your home.
Yurt insurance does not cover the following perils:
- Certain natural disasters (i.e., floods, earthquakes, and mudslides)
- Maintenance-related losses
- Wear and tear damage (i.e., failure of the homeowner to maintain upkeep)
- Insect damage or infestations
- Damage from war or nuclear fallout
- Business-related liability
If you run a business out of your home, yurt insurance won’t cover any liability-related mishaps. To protect your home against flood or earthquake damage, you’ll need a flood insurance or earth movement policy. Flood insurance policies are only available through the National Flood Insurance Program, which is a part of FEMA. Yurt owners located in areas prone to flooding may want to seriously consider getting a policy.
What Are the Benefits of Yurt Insurance?
You know that your home is more than just a physical structure to protect you from the elements, it’s also your happy place. If you’ve taken the time to build a yurt and move away from traditional living, you’ll want to protect your efforts and keep your home safe so you can reap the rewards of off-grid living. Having adequate insurance coverage can help prevent yurt owners from losing their home or being unable to replace their stuff following a disaster.
Yurt insurance typically provides coverage for the following perils:
- Fire and smoke
- Water damage
- Aircraft or vehicle damage
- Falling objects (and trees)
- Certain natural disasters (i.e., windstorms, hail, lightning, and blizzards)
Your independent insurance agent can help you review your yurt insurance policy to answer any remaining questions about your coverage. They’ll also be able to help you figure out whether you’ve got enough coverage, or if you should purchase more.
How Much Does Yurt Insurance Cost?
Many factors influence the cost of a yurt insurance policy, including the size and location of your home, the value of the structure and the contents inside, and any upgrades you’ve made. Owners of yurts located in areas prone to severe weather or other risks like crime will be required to pay more for their insurance policies than those who live in calmer, safer areas.
While it’s hard to offer an exact figure without knowing your unique living situation, your yurt insurance policy is likely to be much less expensive than traditional homeowners insurance because of the unique construction involved. An independent insurance agent can help find more exact quotes for you.
How Do I Get Yurt Insurance?
The real trick with yurt insurance policies is finding an insurance company who actually offers coverage for these nontraditional homes. Because writing yurt insurance is much less profitable for insurance companies than other forms of homeowners insurance, it may be a struggle to find a policy available in the admitted insurance market. You may have to look to the specialty market or surplus lines.
An independent insurance agent can help you find coverage by conducting the research on your behalf. They know the types of coverage you need, what to look for, and where to find it.
Benefits of an Independent Insurance Agent
Independent insurance agents have access to multiple insurance companies, ultimately finding you the best coverage, accessibility, and competitive pricing while working for you. Find an independent insurance agent in your community here.
TrustedChoice.com Article | Reviewed by Paul Martin
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