Unlike a homeowners policy, a dwelling policy lets the applicant:
Explanation
Dwelling coverages are written separately, so an owner living elsewhere can buy dwelling coverage alone while a tenant buys personal property coverage alone; a homeowners policy packages the coverages and requires an amount on the dwelling. Contents are settled at actual cash value, not resale market value, and theft comes only by endorsement. Deductibles apply under either policy.
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Related questions on this topic
- A rented dwelling is unlivable for three months after a covered fire. The rent was $1,800 a month, and $200 a month of expenses stop while it is empty. Fair rental value pays:
- A family normally spends $2,400 a month on housing and food. Living elsewhere after a covered fire, they spend $3,900 a month. Additional living expense pays them:
- Fire damages a dwelling insured on a basic form. Rebuilding the damaged portion costs $60,000, depreciation on it is $18,000, and the deductible is $1,000. The insurer pays:
- A dwelling costing $250,000 to replace is insured on a broad form for $150,000, under a loss settlement condition asking for 80%. A $40,000 building loss is settled at:
- A dwelling policy owner wants protection against a claim brought by a visitor injured on her steps. She obtains it by:
- A fire in a rented house destroys the tenant's furniture. The landlord's dwelling policy pays:
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