Home Owners Coverages

Confused as to what your home owner coverages mean?

Dwelling Coverage-

     Covers the value of the dwelling itself (not including the land).

Other Structures Coverage-

     Covers other structure around the property which are not used for business, except as a private garage. Personal Property Coverage-

    Covers personal property, with limits for the theft and loss of particular classes of items

Loss of Use/Additional Living Expenses Coverage-

     Covers expenses associated with additional living expenses (i.e. rental expenses) and fair rental value, if    

     part of the residence was rented, however only the rental income for the actual rent of the space not

     services provided such as utilities.

Additional Coverages-

Covers a variety of expenses such as debris removal, reasonable repairs, damage to trees and shrubs for certain named perils (excluding the most common causes of damage, wind and ice), fire department changes, removal of property, credit card / identity theft charges, loss assessment, collapse, landlord's furnishing, and some building additions. These vary depending upon the form.

Exclusions-

In an open perils policy, specific exclusions will be stated in this section. These generally include earth movement, water damage, power failure, neglect, war, nuclear hazard, intentional loss, and concurrent causation (for HO-3).