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.
Sergio Evora is a Broker Associate at BrokerNation Real Estate and has been acknowledged as the #1#1 Top Producer for his Company. Sergio was recognized # 1 Real Estate Agent for Total Sales Volume and Total Closed Transactions for 2020, 2021 and just recently in 2022.
With over 28 years of Residential Real Estate experience, Sergio has built a reputation for achieving superior results for his clients. He assists buyers & sellers by utilizing his extensive knowledge of Miami’s investment opportunities, market knowledge, digital advertising, marketing expertise, keen negotiating skills and wide-ranging connections. Sergio’s extraordinary principles and ability to generate successful transactions is leading his clientele to consistently look to him for high-quality service. He is a Member of The Institute for Luxury Home Marketing with access to an extensive referral network.
Sergio’s passion is his family, volunteering, travel and his business.
