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Coverage Provided by Your Homeowners Insurance Policy

Understanding your homeowners insurance policy coverage may be challenging. There are lots of terms to learn, as well as the contracts are usually tedious to read. However, not clearly knowing your coverage can leave you with coverage that is insufficient. True Coverage

The thing you don’t want is for your home to fall victim to some disaster, only to discover that your insurance won’t pay money for the damages.

What does Dwelling Coverage refer to?

When you see the term “dwelling” on your insurance coverage, this is dealing with the structure you are living in. It could be a colonial house, mansion, ranch, modular home or perhaps a trailer home. In essence that if you’re sleeping as well as bathing in it then it is your dwelling. The dwelling coverage is the amount of money your insurance carrier is willing to pay to rebuild or repair your dwelling. This insurance will simply protect the dwelling; it won’t insure anything else on the property for example fences or detached garages. It also does not pay you to purchase a brand new home, instead it pays for the current house to be reconstructed or repaired.

It is common for people to make upgrades to their home. Anything that raises the value of your home needs to be reported to your insurance company. These adjustments can impact the cost of reconstructing your house and, therefore, you want your dwelling coverage modified accordingly. Examples of this consist of replacing standard windows with bay windows, upgrading carpet to hardwood flooring, installing a Jacuzzi tub where a regular one was or replacing linoleum with ceramic tile.

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