What do all of those numbers mean?

When you’re looking at your home insurance declaration page, there are a lot of numbers by a lot of unfamiliar words. Here are some of the most common types of coverages you’ll find in a personal homeowners policy:

Coverage A- Dwelling– Pays for damage to the insured residence premise caused by a covered peril. Most policies do not pay for damage caused by flood or earthquake without endorsement or another policy. Click here to learn more about flood insurance and earthquake insurance.

Coverage B- Other Structures– Pays for damage to the insured other structures on the residence premise, separated from the dwelling by clear space, caused by a covered peril. Examples include fences, driveways, retaining walls, storage sheds, and swimming pools.

Coverage C- Personal Property– Pays for damage to the personal property owned or used by an insured caused by a covered peril. Most policies contain sub-limits or exclusions for certain categories, like business personal property, jewelry, collectible coins, and firearms. Personal property coverage may contain limitations on contents off-premises.

Coverage D- Additional Living Expense– Pays for the necessary increase in living expenses incurred as a result of the residence premises becoming uninhabitable due to a covered loss. For example, if a family could not stay in their home due to a fire, this coverage would pay for the hotel room while the house is getting fixed.

Coverage E- Personal Liability– Pays for bodily injury or property damage caused by a covered occurrence.

Coverage F- Medical Payments to Others– Pays for necessary medical expenses incurred by someone outside the household who incurred bodily injury at the premises. This coverage usually applies regardless of negligence.

Obviously, there might be different coverages needed for each person’s home. Home insurance is unique to each individual person. However, Kraft Insurance Services can get you an individualized quote on home insurance today.