Dwelling Coverage
What is dwelling coverage?
What is dwelling coverage?
Dwelling coverage, also known as coverage A or residence coverage is the portion of your homeowners insurance policy that protects the physical structure of your home from covered hazards like burning to the ground, getting destroyed by a hurricane, or being crushed by a fallen tree. It helps pay to rebuild your home, making it one of the most important parts of your policy.
What parts of my home are protected by dwelling coverage?
Dwelling coverage protects things like:
Foundation
Frame, walls, flooring and windows
Roof
Fireplace and chimney
Plumbing, electrical, and HVAC systems
Built-in fixtures like sinks, tubs, showers and cabinets
Built-in appliances like your furnace and possibly water heater
Attached garage
Porch and deck
How much dwelling coverage do I need?
How much dwelling coverage you need depends on how much it would cost to rebuild your home at today's construction and labor prices. It is not based on your home's market value, which is how much buyers are willing to pay for it on the real estate market. Some factors that may affect the estimated cost to rebuild are:
Cost of construction and labor in your area
Your home's square footage
Age of your home
Number of rooms
Architectural style
Number of stories
Recent renovations
Special features in your home
What is typically covered by dwelling insurance?
According to the Insurance Information Institute, there are certain hazards, or perils, that are covered by most standard homeowners insurance policies. While coverage can vary from state to state or from one geographical region to another, homeowners policies typically help cover damage from the following events:
Fire/smoke
Lightning strikes
Windstorms
Hail
Explosion
Vandalism
Theft
Damage caused by the weight of snow, sleet or ice
Falling objects
Damage from an aircraft
Damage from a motor vehicle
While these hazards are typically covered by dwelling insurance, you should always check your own home insurance policy to be sure of what it covers