Below is a brief explanation of the four types of coverage typically found in a standard Homeowners Insurance policy.
- Dwelling Coverage: This portion of the policy addresses coverage of your home’s structure and will most likely be referred to as Coverage A — Dwelling Coverage. This typically covers the dwelling and attached structures and does not apply to land, including land on which the dwelling is located.
- Personal Property Coverage: This section outlines coverage of the contents of your home and your personal belongings. This will most likely be referred to as Coverage C — Personal Property Coverage. Unless otherwise specified, personal property coverage is for the actual cash value at the time of loss, which is the original cost of the item, minus depreciation. The coverage amount can be increased through an endorsement called Personal Property Replacement Cost. If you would like to learn more about this, give us a call at 1-888-878-8875 where our licensed Insurance Specialists are ready to answer all of your questions.
- Coverage for Temporary Living Expenses: Where would you live while your damaged home is getting repaired or rebuilt? The third type of coverage found in a Homeowners insurance policy, Loss of Use Coverage, insures you over and above your usual living expenses for temporary housing expenses, restaurant meals, and even things such as car and boat storage and pet kennel expenses, for a set period of time. This section is usually referred to as Coverage D — Loss of Use Coverage.
- Personal Liability Coverage: The fourth coverage generally found in a standard Homeowners insurance policy, typically referred to as Coverage E – Personal Liability Coverage covers damages for bodily injury or property damages to others. It may also provide a defense for covered claims.
Standard Homeowners policies do not typically cover damage from earthquakes and floods. To find out more about coverages for these types of events, or if you have any questions about your policy and want to look into adding or changing your coverages, please contact us at 1-888-878-8875.
