Dwelling Insurance
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Dwelling Insurance
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.
What Is Dwelling Insurance?
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.
Types of Dwelling Insurance
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.
Homeowners Insurance Dwelling Coverage
- 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 Insurance Coverage
- 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.
Rental Property Insurance Coverage
- 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 Home Insurance Dwelling Coverage
- 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.
Dwelling Coverage Vs. Homeowners Insurance
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.
Homeowners Insurance
- Homeowner insurance has an impact on more than just your house's structure. It also protects your personal property, offers liability protection, and covers additional living expenses if you need to move out because of a covered event.
Dwelling Coverage
- In contrast, Dwelling Insurance aims to cover only the physical structure of your home, such as the roof, walls, and foundation. Let's say a tree crashes into your house during a storm. In this case, Dwelling Insurance will cover the cost to fix the building itself. On top of that, your homeowners' insurance might pay for any personal stuff that got damaged inside.
What Does Dwelling Insurance Cover?
Dwelling Insurance typically covers damages to the structure of your home caused by the following perils:
Fire and Smoke: Damage caused by a house fire or smoke.
Windstorms: Protection against wind or hail damage to the roof or walls.
Lightning: If lightning strikes your home and causes damage.
Falling Objects: If a tree or other heavy object falls on your home.
Explosions: Coverage for damages caused by a nearby explosion.
What Is Not Covered?
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.
Flood Damage: Standard dwelling policies don't cover floods.
Earthquakes: Earthquakes, like floods, aren't included unless you buy a separate earthquake insurance policy.
Wear and Tear: Standard policies don't cover normal wear and tear or maintenance issues
Personal Belongings: Dwelling Insurance doesn't protect the personal items in your home.
Liability: Dwelling Insurance doesn't cover injuries that happen on your property. You need a homeowners insurance policy with liability protection to cover such incidents.
Dwelling Insurance Costs
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.
Average Dwelling Insurance Costs
- Monthly Costs: You can expect to pay between $100 to $200 per month for dwelling insurance.
- Annual Costs: This works out to be around $1,200 to $2,400 per year.
Factors Influencing Dwelling Insurance Costs
Get Dwelling Insurance Quotes
If you want to get an exact cost for Dwelling Insurance, we encourage you to get quotes now from our experienced agents.
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:
- Knowledgeable, licensed insurance agents
- Same-day coverage in most instances
- Coverage from A-rated insurance companies
- Ability to offer policies nationwide
- The lowest price for the best Insurance coverage in the industry
