Common Homeowners Insurance Coverages

Every home is unique and will require a carefully crafted policy. These are some common coverages you typically see on a policy:

Dwelling

This is the portion of your policy that covers the actual structure (main house). The cost to replace your home can fluctuate from time to time based on the cost of raw material and labor, and of course, supply and demand.

We’ll run a replacement cost analysis on your home to see how much it would actually cost if the worst happened and you had to rebuild.

Other Structures

This covers any structure on your property that is not permanently attached to your house, like fencing, driveways, sidewalks, and detached buildings like sheds and garages. Usually this coverage is 10% of whatever your Dwelling limit is, but can be increased if you need more coverage.

Personal Property

This covers all of your personal belongings like clothing, furniture, electronics, and appliances. Basically anything that would fall out of your house if you turned it upside down and shook out the contents.

Loss of Use

This covers your living expenses if you need to live somewhere else temporarily because your primary home is uninhabitable due to a loss.

Medical Expense

This covers medical expenses for guests if they are injured on your property, and in certain cases covers people who are injured off of your property. It does not cover health care costs for you or other members of your household.

Family/Personal Liability

Personal Liability Coverage applies if someone is injured or their property is damaged and you are to blame. The coverage generally applies anywhere in the world. When choosing your liability coverage limits, consider things like how much money you make and the assets you own. Your personal liability coverage should be high enough to protect your assets if you are sued. In some situations, an Umbrella policy may be necessary to provide extra coverage.

Scheduled Personal Property

There are some situations where you might want special coverage for valuables, or collectibles like jewelry, guns, collectibles, rugs, etc.