News & Updates
Insurance policies can be difficult to understand. Let us walk you through the 6 basic coverages on a standard home policy.
Coverage A: Dwelling
The dwelling is simply the structure at the address listed on the dec page for a home or condo policy. This also includes attachments to the structure, such as an attached garage.
Coverage B: Other Structures
Other structures means any other structures located on the premises that are separate from the main dwelling. Some examples include detached garages, sheds, pole barns, etc. This also includes structures that are only attached to the home via a fence or utility line.
Coverage C: Personal Property
Personal Property covers your contents within the dwelling. If you were to lift your home and shake it out, anything that falls out could be considered personal property. Coverage C will be on any home policy, whether it be a home, condo or renter’s policy.
Coverage D: Loss of Use
Loss of use covers additional living expenses should you need to reside elsewhere while repairs/rebuilding is occurring in the event of a covered loss. This can include the cost to stay at another location, increased costs due to having to eat out or do coin-operated laundry, or other expenses incurred because of the loss.
Coverage E: Personal Liability
Personal liability are costs which you become legally obligated to pay because of bodily injury to another person, or property damage to another person’s property. Bodily injury can include things such as excess medical payments, lost wages for the other person and pain and suffering.
Coverage F: Medical Payments
Medical Payments to others can help to pay expenses related to an injury that occurs on your property regardless of fault. It usually works by reimbursing you for expenses you paid out for less costly expenses, such as an ambulance ride or the injured party, x-rays or stiches. This coverage is usually enacted to prevent smaller injuries from becoming major issues that could turn into a lawsuit or liability claim.
These coverages and their limits will be listed on your policy declarations page, along with any additional optional coverages. Call us today to review your coverage limits.
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