What Is Dwelling Coverage?

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What Is Dwelling Coverage?

<lingo>Dwelling coverage refers to the protection of the main structure on your property, and is usually a part of a standard home insurance policy. The main structure includes the full unit of the home, as well as any attached features (e.g. sun-room, deck, porch, garage, etc.). 
With dwelling coverage, you'll receive compensation in the case of any damage caused by a covered event. This will not only help you replace the parts of the home that were damaged but also rebuild full sections of the home if the damage was severe enough.</lingo>

Dwelling Coverage Explained

Dwelling coverage is typically used as a supplement to a standard policy, but it doesn't give homeowners additional protection beyond the usual named perils. Events like theft, fire, and windstorms are covered just as they would be under a standard policy. However, floods and earthquakes are typically not included under dwelling coverage, unless specifically stated in an addendum to the policy. Dwelling coverage also doesn't cover anything beyond the main unit. If you have a detached garage, tool shed, or guest house that you would like to cover, you may need to purchase additional insurance for this. Check the terms of your standard policy though before you opt into any additional coverage.

 

<twitter>Dwelling coverage refers to the protection of the main structure on your property, and is usually a part of a standard home insurance policy. The main structure includes the full unit of the home, as well as any attached features (e.g. sun-room, deck, porch, garage, etc.) </twitter>

 

 

It only takes one bad hail storm to damage your roof or dent the siding. Dwelling coverage is designed to make your home as safe as possible, giving you the financial means to take care of problems immediately rather than waiting until you scrape together the funds for repair. Dwelling coverage is still subject to your deductible and limits, so it's important to understand what those values are. For example, if a hurricane damaged two of your upstairs windows and you have a $10,000 deductible, you may not receive any financial compensation at all. If the entire home needs rebuilding and the bare minimum of coverage, you may easily hit the upper limit of dwelling coverage, depending on how your policy is structured. 

 

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