Understanding Your Homeowner’s Insurance Policy & Its Complete Coverage

At Storm Claim, our public adjusters believe that the more you know about your homeowner’s insurance policy, including the sections entitled Coverage A – F, the more prepared you will be when filing a claim for damages from a hurricane, broken pipes, or a hail storm.

Here is what you need to know about your coverage.

What is Dwelling Coverage?

Dwelling coverage, also known as Coverage A, provides the financial recovery policyholders need to repair or rebuild their homes if they are damaged in a covered claim, subject to the coverage limits and less the deductible.

While not all damage will require a complete rebuild like areas where the water or fire damage is contained and does not affect the rest of the home it is important your homeowner’s insurance policy provides enough coverage to rebuild your home completely, just in case.

What “Other Structures” are Covered By Homeowner’s Insurance?

Coverage B provides protection for “Other Structures” that may include barns, sheds, workshops, and detached garages.

Coverage B is typically assigned a default value of 10% of Coverage A.

If your home is insured for $500,000, the default coverage for Other Structures would be $50,000, but may be customized by the policyholder based on their unique needs.

Personal Property Coverage is Estimated at Cash Value Unless Policyholders Amend It

Personal property coverage, or Coverage C, protects furniture, electronics, appliances, and décor for their actual cash value — which means that your belongings are covered for a depreciated value based on wear and tear due to age.

That means if you purchased a television for $2000 ten years ago, the insurance company is going to assess its value at the going rate, which could be considerably less.

Some policies allow the holder to change the coverage to full replacement cost, which pays for the full cost if you replace the items damaged in a covered claim.

Loss of Use Coverage is Important if Must Leave Your Home

If your home is severely damaged in a hurricane, fire, or another disaster, rendering it unsafe for occupancy, Coverage D or Loss of Use coverage includes funds for temporary lodging and meals, and is available at a coverage limit you choose.

Personal Liability Coverage in Case Someone Gets Hurt on Your Property

Coverage E, or personal liability coverage, protects homeowners from the cost of a lawsuit if someone is injured on their property. This could include dog bites, falls, or swimming pools accidents, or other covered occurrences that cause bodily harm or property damage.

Medical Payments Coverage May Help Avoid a Lawsuit

Coverage F, or medical payments coverage, can help pay for small injuries that happen to your guests while they are on your property, regardless of who is at fault.

Typically, Coverage F has low limits between $1,000 – $5,000, and is designed to resolve smaller claims and amend situations that call for immediate medical attention, so they do not escalate into lawsuits.

Still, Have Questions About Your Homeowner’s Insurance Policy? Contact Storm Claim Today

Storm Claim gives you peace of mind and gets your property back to its previous condition faster and safer — even if the damage was not caused during an actual storm.

Contact our skilled public adjusters today to schedule a free consultation and learn how we can produce solutions for your unique recovery needs by calling 844-967-8676, so you do not have to face the insurance company alone.