Dwelling coverage is a part of a home insurance policy and sometimes it is also called Dwelling Insurance. This policy may help to rebuild and repair the building if the building may be damaged by covered hazards. Or we can say that this coverage protects the home where the person (Insured) lives with an attached structure like a garage or a porch with some added coverages.
Dwelling Insurance Coverage
There are certain hazards that are covered by most homeowner insurance policies. So coverage can vary from state to state and may also depend on geographical factors. Homeowner policy covers damage from listed events followed as:
|Lightning Strikes||Damage caused by the weight of snow sleet or ice.|
|Wind Storms||Falling object|
|Hail||Damage from an aircraft|
|Explosion||Damage from an aircraft|
|Vandalism||Damage from a motor vehicle|
Mostly Dwelling Insurance covers the damage to the home, including the foundation, the frame, wall, and the roof. It also covers cabinets, appliances like furnaces, and water heater or may also cover the other structure that may touch the house.
Detached garages, sheds, and other structures may also be considered as a part of the dwelling under a traditional homeowner policy. However, with renters policy and condominium policy, these structures may not be covered.
Exclusions under Dwelling Insurance
These are some exceptions that are not covered under the dwelling insurance policy or homeowner policy. A standard homeowner policy generally does not cover flood, earthquake, sewer backup, and damage that occur with lack of maintenance. Insured should have to take additional coverage to cover up these additional perils. For example, Water backup coverage covers the sewer backups and flood insurance coverage protects the home from flooding.
Factors that impact the replacement cost
The coverage amount should be sufficient to pay for rebuilding the house and it’s attached structure if the home is totally destroyed with covered perils. The replacement cost of the home will depend on a number of factors:
- Cost of construction and labor in the specific area.
- Home’s Square footage
- Any custom-built feature
- The style of house
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