Homeowners Insurance Coverages Explained!

Reading a policy can be confusing, especially if you are not a licensed insurance agent! Let us break it down for you, it’s actually quite simple! Knowledge is power in making the right decisions.

Coverage A – The Dwelling	Covers damage to the home and attached structures such as a porch or deck. This is the reconstruction cost estimate to rebuild your home only (does not include land or other structures)
Coverage B – Other Structures	Covers stand alone structure on your property such as a fence or shed. Usually calculated by 10% of Coverage A amount.
Coverage C – Personal Property	Pays to repair or replace items that are damaged or stolen in a covered incident (peril). High valued items may need require additional insurance premiums for higher coverage amounts (jewelry, furs, fine dishware etc.)
Coverage D – Loss Of Use	Helps to pay short-term living expenses while your home is being repaired or not safe to live in.
Coverage E (liability) – Personal Liability	Helps to pay third party injuries, or property damage through accidental actions or neglect.
Coverage F – Medical Payments	Can help pay for small injuries that happen to your guests on your property, regardless of who is at fault. This portion of your policy is designed to resolve smaller claims, so they don’t escalate into lawsuits.

Monteleone Insurance Services – 490 Wheeler Road, Suite 185 – Hauppauge NY 11788 – 631.544.4000

www.MonteleoneInsurance.com – broeder@monteleoneassociates.com