Weichert Realtors - Welcome Agency
Weichert Realtors - Welcome Agency
Robert Greenaway, Weichert Realtors - Welcome AgencyPhone: (234) 855-3659
Email: [email protected]

Why you need dwelling coverage

by Robert Greenaway 05/11/2022

Dwelling coverage is a crucial part of every standard homeowners insurance policy. Dwelling coverage can help you in the event the physical structure of your home incurs serious damage. However, it’s important to understand what types of damage are covered.

Here is a basic guide to the types of damage covered by your dwelling insurance:

Why you need dwelling coverage

You can use dwelling coverage to pay for damage sustained from natural hazards, also called perils. You may be eligible for financial compensation if the main structure of your home is damaged by any of the following:

  • Fire/smoke
  • Windstorms
  • Lightning strikes
  • Hail
  • Snow, sleet or ice

Other than natural or weather related hazards, there are more types of damage covered under dwelling insurance. These hazards include:

  • Vandalism
  • Theft
  • Falling objects
  • Damage from motor vehicles
  • Damage from aircraft

If any of these perils cause damage to the structure of your home, your dwelling coverage is there to help you.

Important exceptions

Not all natural hazards are covered by dwelling insurance. For example, windstorms do not include tornadoes. If you live in a region prone to tornadoes, you will need to purchase a tornado-specific insurance policy.

Other major natural perils like earthquakes, mudslides and floods typically require their own specific policy. Other non-natural hazards might be covered by auto insurance or personal liability insurance.

Hopefully, you’ll never need to make a claim to your homeowners insurance for one of these issues. However, the more you know about what hazards are included in your dwelling coverage can give you greater peace of mind as a homeowner.

About the Author
Author

Robert Greenaway

Hi, I'm Robert Greenaway and I'd love to assist you. Whether you're in the research phase at the beginning of your real estate search or you know exactly what you're looking for, you'll benefit from having a real estate professional by your side. I'd be honored to put my real estate experience to work for you.