This Part provides rapid reimbursement for minor injuries, such as a guest who trips and falls while visiting your home. The injuries from this incident are not accidental and would not be covered. Example: Joe is sued by a guy he injured after tackling and repeatedly punching him during a pickup basketball game. Naturally the coverage would not apply for excluded situations, such as intentional injuries. Protection includes paying for your defense costs and any financial judgment for covered incidents. This Coverage Part responds if you are legally responsible for causing property damage or physical injury.
However, the expenses must exceed what your family normally incurs.Ĭoverage Parts E and F address coverage for injuries to persons or damage to property that belongs to others. Additional expenses normally include food, housing, and transportation. For instance, if your home was damaged during a war and you had to abandon it, Coverage D would not be available because war is excluded. However, the loss or loss of access has to be the result of an event that is covered by the policy. The coverage also applies if the home is unusable. This coverage handles the cost of additional living expenses while your home is being repaired. However, your agent may be able to add replacement cost to your possessions just like that found in Coverage A. Coverage under section C is usually provided on an actual cash basis. Check your policy to see which type of coverage you have. Replacement cost is the actual cost to replace the structure, regardless of depreciation.
Actual cash value is defined as replacement cost minus depreciation. Talk to your agent about scheduling (adding) coverage on a floater which broadens and extends coverage for high-valued possessions.Ĭommonly, protection under sections A and B is provided on either an actual cash value or a replacement cost basis. Types of property having significant value, such as jewelry, fine arts, collectibles, etc., may require special protection. The coverage is also subject to limitations and exclusions. This means that only the causes of loss listed in the policy section are covered. Personal property is often covered on a named peril basis. This covers your possessions, whether they are at your home or away with you on vacation. This coverage section protects structures that are not attached to the home, such as a detached (separate) garage, storage or utility shed playground equipment and swimming pools. Wear and tear, gradual damage or deterioration.However, the following causes of loss are usually excluded from coverage under the homeowners policy: The typical policy covers your home when it is damaged by many perils (also known as causes of loss) including fires or storms. The homeowner policy's first coverage section protects your house and any attached structures, such as garages, decks or fences. They are usually presented as policy sections and are often labeled Coverages A through F.Ĭoverage Parts A, B, and C protect property. The names of the parts may vary by insurance company, but they typically are referred to as Dwelling, Other Structures, Personal Property, Loss of Use, Personal Liability and Medical Payments coverages. Generally, a homeowners insurance policy includes at least six different coverage parts.