Although dwelling coverage is not difficult to comprehend, understanding how it functions can ensure adequate protection.
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A quick look at how home insurance works is provided here. You can use your home insurance to pay for the costs of rebuilding your home if it is destroyed by a tornado.
Except for your deductible, the coverage will cover replacement costs up to the limit.
You can also file claims against your policy’s personal property coverage to pay for things like clothing and furniture replacement, and against the loss of use coverage to pay for things like hotel and restaurant bills while you’re away from home.
The most prevalent type of homeowners insurance policy is the HO-3 policy, also known as the Special Form. With the exception of those specifically excluded, it covers all risks.
Damages to your home caused by earthquakes or floods are not covered by the majority of standard home insurance policies, including HO-3s.
