The insurer will assess the current market value of the equipment, taking into account the age, condition and usage of the machinery.
If you have a house, condo rental property, or mobile home, protecting your property with Dwelling Insurance is crucial. This type of insurance will cover your property’s structure against damage from fire, wind, or vandalism.
Dwelling Insurance is a particular kind of property insurance that protects the actual structure of a house or building. This insurance covers the house’s foundation, roof, walls, and any attached buildings, such as garages.
There are a number of different types of Dwelling Insurance, based on the kind of property you own. Each policy type offers specific protections designed to meet different property owners’ needs.
This is the most common form of Dwelling Insurance and is included in a standard homeowners insurance policy. It protects the structure of your home from damage caused by events like fire, hail, lightning, and wind.
Condo owners don’t need as much structural protection because the condo association’s master policy often covers the building’s exterior. Still, condo insurance dwelling coverage has an impact on protecting the unit’s interior, including walls, floors, and fixtures.
If you own properties, rental property insurance (also called landlord insurance) offers dwelling protection for the property’s structure. It guards against damage from tenants’ natural disasters or other covered risks.
Mobile homes need special home insurance because of their unique build and ability to move. Mobile home insurance protects against harm to the structure, making sure dangers like fires, storms, or vandalism cover your home.
Duty of care is fundamental to premises liability insurance. It dictates a property owner’s legal responsibility to maintain a safe environment for visitors. A certain level of care is required for invitees and licensees.
Dwelling Insurance typically covers damages to the structure of your home caused by the following perils:
Damage caused by a house fire or smoke.
Protection against wind or hail damage to the roof or walls.
If lightning strikes your home and causes damage.
If a tree or other heavy object falls on your home.
Coverage for damages caused by a nearby explosion.
The amount of coverage you need will depend on the scope of your project. Size of the property, extent of renovations, and duration of property vacancy will all impact the amount of coverage required.
Standard dwelling policies don’t cover floods.
Earthquakes, like floods, aren’t included unless you buy a separate earthquake insurance policy.
Standard policies don’t cover normal wear and tear or maintenance issues.
Dwelling Insurance doesn’t protect the personal items in your home.
Dwelling Insurance doesn’t cover injuries that happen on your property. You need a homeowners insurance policy with liability protection to cover such incidents.
Here are some general estimates to give you an idea of what you can expect to pay for Dwelling Insurance. If you want to get some exact quotes for dwelling insurance, feel free to get in touch with our insurance agents.
Cost
Monthly Costs
Between $100 to $200
$1,200 to $2,400
Homes in areas with high crime rates or frequent natural disasters will have higher insurance premiums.
Larger and more expensive homes require higher coverage, leading to higher premiums.
Choosing a higher coverage limit for dwelling protection raises the premium.
A higher deductible can lower monthly and yearly premiums but increase out of pocket costs when making a claim.
Our experienced agents are well versed in all types of properties. After understanding your insurance needs, our agents can usually reduce policy prices through additional discounts of 10% to 15% from the instant quotes you receive.
We provide the finest comprehensive plans for your business by providing:
"*" indicates required fields
Yes, many policies cover rented or leased equipment but make sure your policy specifically covers rentals.
Yes, most construction equipment insurance policies cover transit of equipment to or between sites.
Exclusions may include normal wear and tear, intentional damage, pre-existing damage or damage caused by using the equipment outside its intended use.
