What Is Dwelling Insurance?
When shopping around for homeowners insurance, you may have come across terms like “dwelling insurance” or “dwelling coverage.” Insurers define a dwelling as the home you and your family actually live in. Anything attached to your house — e.g., garage, deck, porch, etc. — is part of your dwelling. This also includes built-in fixtures such as refrigerators and ovens.
Keep reading to learn more about dwelling insurance, what it does and doesn’t cover, and its limits and deductibles.
What is Dwelling Insurance?
Think of your homeowners insurance policy as an umbrella with multiple coverage options underneath it. Dwelling insurance — or dwelling coverage — is one part of that group under your homeowners insurance umbrella. It helps cover the physical structure of your home — i.e., the foundation, walls, roof, etc. — as well as anything attached to or permanently installed in your house, such as garages, cabinets, and HVAC systems. If any of these things get damaged due to a covered loss, dwelling insurance may help pay for the replacement, repair, or rebuilding costs.
What’s Covered by Dwelling Insurance?
Most standard homeowners insurance policies help protect your dwelling from the following perils:
Fire
Lightning
Smoke
Explosions
Hail
Vandalism
Theft
Falling objects
Windstorms
Damage caused by the weight of snow, ice, or sleet
Damage caused by aircrafts
Damage caused by vehicles
Dwelling coverage can vary from state to state and region to region, so be sure to talk with your Zeiler Insurance agent to see what perils your homeowners insurance policy covers.
What’s Not Covered by Dwelling Insurance?
While dwelling insurance covers a wide range of perils, it doesn’t protect your home from every incident. Here are some of the situations dwelling insurance doesn’t cover:
Floods — Thankfully, you can purchase a separate insurance policy if you live in an area prone to flooding.
Earthquakes — Just like with floods, you need to get a separate policy to protect your dwelling from earthquake damage. If you’re a California homeowner, we highly recommend purchasing earthquake insurance.
Damage Due to a Lack of Maintenance — Dwelling insurance won’t cover damage that proper home maintenance could have prevented.
Sewer Backups
Damage Caused to Detached Structures on Your Property — Dwelling insurance doesn’t cover damage caused to structures separate from your house, such as sheds, fences, barns, and carports. However, the other structures coverage on your homeowners insurance policy may help cover these specific structures.
Dwelling Coverage Limits and Deductibles
Dwelling coverage is typically subject to limits and deductibles. Here’s a quick review of what each term means:
Limit — The maximum amount your insurer will pay toward a covered loss.
Deductible — The amount you agree to pay out-of-pocket for damages before your insurer begins to pay.
You may be asking yourself: How much dwelling coverage do I need? The dwelling coverage limit should be based on the estimated cost of rebuilding your home. You can calculate this estimate by multiplying the square footage of your home by the local rebuild cost per square foot. If you’re looking for a more accurate assessment, give us a call . We can help adjust your limit and deductible to fit your needs.
The unexpected can happen at any time. You need reliable protection to ensure your property is covered when unforeseen events occur. Contact us for more information about dwelling coverage and how to get quality protection at an affordable price.
Dan Zeiler
dan@zeiler.com
877-597-5900 x134