My homeowner’s policy is confusing, what are the most important parts I should know about it?
- Posted by Lapointe Insurance
- On July 11, 2022
Here are the most important parts:
- Dwelling coverage: pays for your actual house, also known as the amount we pay to help you fix or rebuild your home if the damage is covered.
- Other Structures: The “other” structures of your home, like your shed or deck! This coverage is usually 10% of your dwelling coverage.
- Personal Property: Your personal property includes all your stuff and is usually between 50%-70% of your dwelling coverage.
- Loss of Use: Covers the costs of your accommodations somewhere else if your house needs to be worked on.
- Liability and Medical Payments: Covers you in instances where someone gets hurt on your property or you accidentally hurt someone outside of your property.
We hope this clears up some questions! Please also feel free to refer to this informational video for clarification!