Your home provides a safe space to live. What happens in the case of an emergency that compromises your home? Financially protecting your home can safeguard your space if perils arise.
Dwelling insurance is the part of your homeowners insurance policy offering protection for the structure of the home. This article provides a basic guide to understanding dwelling coverage, policy scope and requirements.
If your home structure is damaged, dwelling coverage provides financial compensation. Your insurance policy would offer an estimate of the damages and provide funding for the cost of repairs.
Your home structure includes walls, flooring, roof, foundation and windows. Sometimes dwelling insurance also covers attachments to the home, like a porch, garage, or deck.
Rental property owners need a specific type of dwelling insurance for landlords. These policies generally include:
Tenants should have renter’s insurance as well, as landlord's dwelling insurance won’t cover their personal items.
Dwelling coverage isn’t a requirement. However, most mortgage lenders do require dwelling insurance if you’re financing your home through them. Not only does it protect homeowners, it protects the lender’s investment.
The top agent in Framingham for over three decades, Kathy Foran demonstrates her passion and enthusiasm for real estate at every opportunity. As a real estate professional with Realty Executives Boston West, Kathy serves all of Boston’s MetroWest residential market, assisting Sellers and Buyers. “I work tirelessly for all my clients seven days a week and I am always available” she says, adding that she prides herself on her accessibility and attentiveness.
