DWELLING (COVERAGE A): This covers the value of the dwelling itself up to the policy limit less the deductible you choose. Most companies have a minimum $1000 wind and hail deductible depending on your roofing material. This coverage can either be Actual Cash Value or Replacement Cost, depending of the policy you choose.
OTHER STRUCTURES (COVERAGE B): This covers other structures on the insured premise that are not used for business use. The amount for this coverage is usually 10% of Coverage A (the dwelling). Increased limits for other structures is available by endorsement on the policy.
PERSONAL PROPERTY (COVERAGE C): This covers your personal property (with limits for theft of particular classes of items, money, jewelry, etc.) The amount for this coverage is usually 70% of Coverage A (the dwelling). This amount can be endorsed to have replacement cost coverage.
LOSS OF USE (COVERAGE D): This covers expenses associated with additional living expenses away from home if you can not live there due to damage from fire, storm or other insured disaster, up to your policy limit. It covers hotel bills, restaurant meals, and other living expenses while your home is being rebuilt.
REPLACEMENT COST COVERAGE: This covers a piece of property for the amount it will cost to replace it, with a comparable one, without deducting anything for depreciation.
ACTUAL CASH VALUE COVERAGE: This covers a piece of property for its actual cash value, applying deductions for depreciation of the property by age and condition.
ENDORSEMENTS: Identity Fraud Expense, Sewer Backup Increased Limits, Sump Pump Overflow, Other Structures Increased Limits, Other Structures Rented to Others, Increased Limits on Jewelry, Watches, Furs, Guns and Collections, and many others. Please call us with any questions.
DISCOUNTS: Multi-Policy, New Home Credit, Alarm System Credit
PERSONAL LIABILITY: This covers damages which the insured is legally liable for up to the policy limit. Property liability covers you when someone is injured in an accident on your property, or when you are liable for damages at other locations. Your personal liability follows you.
MED PAY: The medical payment coverage works when someone is hurt on your property thru NO negligence of your own (ex. tripped and fell for no reason, fell down a step), med pay will pay for medical bills only, up to the limit on your policy. It will NOT cover the insured or any resident of the household.