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The Dwelling Fire Policy
The
Dwelling Property Basic
Form provides named perils
protection for the one- to
four-family residence described
in the policy Declarations,
private structures in connection
with it, unscheduled personal
property (on and away from the
premises) and fair rental value
protection. A Broad and
Special coverage form is
available that expands covered
perils.
The Form has
four coverage sections: Coverage
A -
Dwelling, Coverage B -
Other Structures, Coverage C -
Personal Property and Coverage D
- Fair Rental Value.
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COVERAGE SECTIONS
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Coverage A Dwelling - - The first section of this policy
explains that "dwelling"
refers to the structure that is used
mainly as a
dwelling and which is described
on the Declarations and any structures
which are attached to the
dwelling.
Protection under Coverage A extends to
materials and supplies which are located
on or next to the
dwelling
which are being used to construct, alter
or repair the
dwelling or other structures on
the described location.
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COVERAGE B-OTHER STRUCTURES—Other structures on the insured premises are
protected under this coverage part if they are separated from the dwelling by a
clear space. On some policy forms provide some of coverage A to be used
for this purpose but not to exceed 10%.
Additional amount of coverage can be purchased
as an endorsement to the policy. Sheds are an
example of a building that would be covered by this part of the homeowners
policy. Other types of other structures that would be covered by this section
are gazebos, picnic shelters, swimming pools and guest houses. |
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COVERAGE C-PERSONAL
PROPERTY—Personal
property owned by or used by an "insured" is
covered as long as the property is at the
described location. The insured can cover
contents such as appliances and furnishings with
this section of the policy. |
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COVERAGE D-Fair Rental
Value - If a covered loss makes that part of the residence premises unfit for
living, the policy can provide for reimbursement of rent lost during the period
of time that the property in uninhabited.
Some policy forms provide that a portion of
Coverage A can be used for this purpose.
The insured can purchase an additional amount of
coverage by endorsement to the policy. |
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LANDLORD LIABILITY
COVERAGE— Some
Dwelling Policies provide for Landlord Liability
for a premium. This coverage along with
premise Medical Payments coverage are important
protection that every landlord should carry.
If the policy does not offer these important
coverages they can usually be purchased as a
stand alone General Liability policy. Some
homeowners policies allow for the extension of
liability to a rental dwelling. |
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Guild & Landis, Inc.© 2007
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