Your Homeowners Insurance is important; it protects your greatest asset. The
following coverage definitions should help you understand your Homeowners
policy. Our homeowners insurance representatives are available to help
you determine the appropriate coverage amounts for your needs.
Dwelling Coverage - Coverage A: Covers your home and any structures
attached directly to it. Ideally, the amount of coverage you carry should equal
the cost of rebuilding your home after a total loss.
Other Structures - Coverage B: Covers other structures set apart from
the dwelling on the residence premises such as a detached garage. This coverage
applies up to the limits provided in your policy and can be increased if
necessary. Most policies automatically provide a limit equal to 10% of
your dwelling coverage amount.
Personal Property - Coverage C:This coverage protects your personal
belongings, such as furniture, clothing and appliances. Most
policies provide a limit of liability equal to 50% to 70% of the
Dwelling Coverage amount. Certain possessions may be excluded or have
only limited coverage. Your homeowners insurance representative can tell
you more about additional coverages you can purchase to provide enhanced
protection for valuable items and other special possessions.
Loss of Use - Coverage D: This coverage is available when you cannot
live in your home due to a covered loss. It pays reasonable and customary
living expenses up to the limit provided in your policy.
Liability - Coverage E: This coverage protects you in two ways.
First, it provides for your legal defense against a liability claim
(lawsuit). Second, it will pay any court judgments for covered losses
against you, up to the policy limit.
Medical Payments - Coverage F: This pays emergency medical bills for
anyone injured on your property or any injury caused by a member of your family
or a pet regardless of where it happens. All bills are paid, up to your policy
limit, whether or not you're legally responsible. Homeowners policies have many other optional features available to you
depending on your individual need. These include earthquake and scheduled
personal property coverage. Also offered are policies to insure your condominium, personal property (if
you rent a home or apartment), rental property and watercraft. These policies
have some of the same coverages as a homeowners policy with special coverages
provided to accommodate each unique situation. Consulting with an insurance
professional is your best option to be certain of proper coverage.
