HOMEOWNERS INSURANCE TERMS
DWELLING COVERAGE Dwelling coverage provides coverage to repair or rebuild your home
in the event of a fire, wind, hail, lightning, vandalism, accidental water damage, falling objects (tree limbs), smoke, explosion, or accidental water damage. Should you have a covered loss, the Dwelling coverage pays to repair or rebuild your home up to the policy limits. Also included in the dwelling are an attached garage, attached deck, or porch.
REPLACEMENT COST ESTIMATOR A replacement cost estimator is a tool insurance agents use to determine the cost of rebuilding your home in the event of a total loss. Various factors are used to determine the construction cost – square footage, type of home (2-story, ranch, with or without a basement), how many bathrooms, and what kind of materials are used for the flooring, countertops, siding, and roof. There are many different replacement cost calculators used, and each insurance company may vary slightly.
OTHER STRUCTURES COVERAGE
Other structures coverage are things that are not physically connected to the dwelling: detached garage, fence, shed, gazebo, guest house, and barn. Often, this is a percentage (10%) of the dwelling coverage. More coverage can be purchased if needed.
Made with FlippingBook - Share PDF online