Does Your Home Insurance Policy Provide Dwelling Coverage?

We don’t expect our homes to come to harm, but we forget that accidents take no appointments. If you end up facing damage to your property, you want to be as secure as possible.

Purchasing a Homeowner’s Insurance Policy—particularly dwelling coverage—may help you do just that by paying for repairs and rebuilding.

How Do We Define ‘Dwelling’?

Before we discuss dwelling coverage, you should have a clear idea about what exactly constitutes as a dwelling.

Though some people assume that their dwelling only includes the physical structure they reside in, dwelling coverage is not just limited to that. In addition to the home you live in, any attached structures such as a garage, a deck, a porch etc. are also protected by your dwelling coverage policy.

What Is Dwelling Coverage?

Dwelling coverage is part of the Homeowner’s Insurance Policy. This policy typically covers four kinds of protection—dwelling coverage, personal property coverage, liability coverage and other structures coverage among others.

In case the dwelling and/or attached structures face damage, dwelling coverage insures against the repair and rebuilding costs.

Should You Purchase It?

There is no seeing what the future holds. To protect your property and savings, purchasing Homeowner’s Insurance Policy is a must. Take a look at all that your dwelling coverage insures against.

What Does Dwelling Insurance Coverage Include?

According to the California Department of Insurance, standard Homeowner’s Insurance policies cover damage caused by the following perils:

  • Fire
  • Lightening
  • Windstorm
  • Aircraft collisions
  • Vehicular collision
  • Volcanic eruptions
  • Theft
  • Vandalism
  • Ice or snow
  • Accidental water damage
  • Glass breakage

Though your property is generally protected against the above mentioned damage, it’s best to check your policy to be absolutely sure.


What Does Dwelling Insurance Coverage NOT Include?

Although the Homeowner’s Policy protects against a broad range of harm, there are some sources of damage that are not insured such as:

  • Wear and tear
  • Maintenance damage
  • Sewer backup
  • Neglect
  • Harm caused to a house that’s been vacant for 60+ days
  • Flood
  • Tidal wave
  • Earthquake
  • Infestation of insects, rats, termites
  • Mold
  • Nuclear hazard

In California, it is a legal obligation for your insurer to offer you earthquake coverage (for a premium) when writing your homeowner’s coverage.

Homeowners and renters can purchase a separate flood insurance policy from their private insurance companies or from the National Flood Insurance Program (NFIP).


What About Structures Not Covered By Dwelling Insurance?

Detached structures on your property such as fences or sheds do not generally qualify for dwelling coverage. Not to worry, though. There’s a separate type of Homeowner’s Insurance called Other Structures coverage that protects these components.

Is Your Dwelling Coverage Subject To Limits And Deductibles?

Yes, limits and deductibles usually apply to dwelling insurance. The limit to your dwelling coverage is equal to the maximum amount that your Homeowner’s Policy pays to cover a loss.

The deductible is the amount you will pay for before the insurance policy kicks in. Consult with your insurance agent to understand or adjust your policy’s limits and deductable amounts.

One Place Financial has a team of expert insurance brokers who would love to help you learn more about Homeowner’s insurance as well as Renter’s insurance.

If you run a California-based business, our experienced consultants will assist you in purchasing the right commercial business insurance policy.

If you’re in or around Bellflower, CA, get in touch with us today!

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