A Dwelling/Fire Insurance policy is coverage that protects the owner of a property or dwelling that is occupied by others. These coverages include:
Dwelling – this coverage applies to the residence structure, including structures attached to the dwelling, materials and supplies for use in the construction or repair of the dwelling.
Other Structures – structures on the described location that are separated from the dwelling by a clear space, or connected only by a fence, utility line, or similar connection.
Personal Property – personal property located in/on the described location, which is usual to dwelling occupancy, and is owned or used by the insured or member of the insured’s family. The Home Owners Insurance Policy is made up of several basic coverages including:
Fair Rental Value – When a direct loss due to a covered peril leaves a rental dwelling uninhabitable, the insured can no longer receive the rent they would have been able to collect had the loss not occurred. Additional Living Expense – this coverage will pay additional living expenses incurred by the insured while the property is unfit for use. This coverage means any necessary increase in living expenses incurred so that the household can maintain its normal standard of living such as reasonable motel, dining, laundry, and transportation expenses.