Dwelling Fire Insurance Policy
While a standard homeowners or commercial property insurance policy can offer coverage for your home or business against various hazards, a dwelling fire policy is a more specific insurance policy for your home or business structures that offers narrower coverage for the building, generally at a lower cost.
What Dwelling Fire Insurance Covers
Although it is called dwelling fire insurance, the policy does cover more than just fire and smoke damage. Your policy can be tailored to fit your needs, and to include disasters like explosions, vandalism, wind damage, hail, lightning, or collapse.
Dwelling fire insurance is a named-peril policy, which means that it only covers those perils that are listed in your policy. It is important to work with an insurance broker who can make sure that all necessary hazards are included in your coverage.
Your policy can fully cover structures including your house, garage, shed, guest house, or other structures, from the perils listed in your policy, up to the policy limit. It can also fully cover rented properties, which means that if your rented property is damaged and no longer able to be rented, your dwelling fire insurance policy can cover the cost of repairs, up to the policy limit, so your property can be rented again.
A dwelling fire policy can also be extended to cover your personal property, or the contents of your dwelling, or the cost of hotel stays and meals in the case that your home is no longer liveable.
Considerations for Dwelling Fire Insurance Coverage
Dwelling fire insurance can benefit homeowners, renters, and business owners. If you’re wondering if it’s right for you, consider the following.
- Do you rent property to tenants? Is your rental property a major source of income for you?
- Do you own a seasonal or vacation home?
- Do you own a historic building, an old home, a mobile home, or an inexpensive home?
- Do you need to insure the structure of a building, but not the possessions of others that may be inside it?
- Do you own more than one tenant occupied structure? Our insurance professionals can find you the best group rate for multiple properties.
How to Get Started
If you have questions about a dwelling fire policy an insurance professional at Fusco & Orsini can help you find information and policies that fit your needs and your budget. Request a free quote.