Dwelling Fire Insurance

Overview

Dwelling Fire policies can be used for homes that you own and rent out to others, owner-occupied residences, and vacant homes. These policies offer different coverage options, ranging from basic coverages to more comprehensive policies that include additional perils similar to those found in a homeowners product. With this customized product and its various levels of coverage and deductible options, you can tailor your policy based on your needs.

Coverage Options

Your insurance agent can help you determine the amount of coverage and options applicable to your individual situation. For instance, you may have the option to add liability or loss of use/loss of rent coverages to your dwelling fire policy.

Review Your Policy

We recommend reviewing your policy coverages on an annual basis with your agent. If during the year you plan to make renovations to the rental property, such as a kitchen remodel or a new roof, be sure to contact your agent so that your policy can be updated. Major repairs and enhancements to the home may qualify for a premium credit.

Keep in mind that that the Dwelling coverage (Coverage A on your policy) needs to be sufficient to cover debris removal, the cost to rebuild your home, and expenses to meet current building code. This is not the real estate or tax appraised value of the home. Your Tower Hill agent has access to software that can help determine the correct Coverage A taking into consideration the current building construction materials and labor costs in your area.