Dwelling insurance is a policy that most homeowners have. One can even argue that it is an essential part of the plan, as it helps in paying for the repairs at home. When shopping around for dwelling insurance, there are a few things you must consider. This is to make sure that you are getting the best one appropriate for your home.
Term Definition of “Dwelling”
Before getting a dwelling insurance policy, make sure that your home can be classified as “dwelling.” If you are in an apartment or condo, then this is not a policy for you. Many plans are tailor-fit for these kinds of homes. If you own a condo unit, you can have an HO-6 plan specific for your liabilities and property.
For apartment owners, you can check out renters’ insurance that can cover your personal property. As for the building, most landlords have a separate policy for it. Although it is essential, you should still look at how “dwelling” is defined in your plan to avoid conflicts in case of claims.
Aside from the usual home coverage like the roof, walls, frame, and foundation, dwelling insurance also cover appliances and cabinets. It includes attached structures to your houses like porch, deck, and garage. However, unattached structures to your home are not included in the coverage. These may pertain to an in-ground swimming pool, gazebo, garden shed, fencing, driveway, and detached garage.
Instead, these properties are covered by the other structure coverage. This specific coverage refers to 10% of your total dwelling coverage. If you want to make sure that these are covered, you can talk to an insurance company to amend your policy. However, this may require a higher premium.
The first thing you must check in dwelling insurance is the “Coverage A” or the perils included in their policy. This means that the insurance policy will approve your claim as long as the damage is caused by any of the following: frozen plumbing and heat ducts, water damage by appliance, volcanic eruption, loss from auto or aircraft, falling objects, damage caused by sleet or snow, theft, vandalism, explosions, hail, wind damage, lightning strikes, smoke, and fire.
Some of the exclusions in the policy are perils like flooding, earthquakes, sewer issues, and maintenance damage. This is because there are separate policies that are made, especially for these issues.
Protect your home from different disasters by having a homeowners insurance policy. In shopping around for one, make sure that you are getting the right one for your home by checking these tips.
At Mauser & Tobin Co., Inc, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (516) 747-0171 or Click Here to request a free quote.