Under the IBC Homeowners Forms, what is the 10% limit for Detached Private Structures considered?

The 10% limit for Detached Private Structures under the IBC Homeowners Forms is categorized as a separate coverage limit. This means that the coverage provided for detached structures, such as garages, sheds, or other buildings that are not attached to the main residence, is distinct from the main dwelling coverage.

In practical terms, if a homeowner has a dwelling insurance limit of $200,000, the limit for detached private structures would automatically allow for an additional $20,000 (which is 10% of the dwelling coverage) to cover damages or losses to those separate structures. The designation as a separate coverage limit helps ensure that there is adequate protection specific to these structures, which might not always be covered under the standard homeowners' policy provisions for the dwelling itself.

This clarification ensures that policyholders are aware of the distinct protections available for both the main home and any surrounding private structures, reinforcing the total insurance coverage approach that is common in homeowners' insurance policies.