We offer a wide variety of coverages for owners of one- to four-family dwellings.
Dwelling Coverage: We provide coverage for rental properties using three common forms. If the basic form (DP-1) is attached to your policy, coverage is granted for named perils and loss settlement is made on an actual cash value basis. Under the broad form (DP-2) or special form (DP-3) your rental dwelling is covered for most causes of direct physical loss without deduction for depreciation as long as the damaged property is repaired or replaced.
Other Structures: You may use up to 10 percent of the amount of coverage on your rental dwelling to cover structures on the premises that are set apart from the dwelling, such as a detached garage or shed. These structures are covered for most causes of direct physical loss. The coverage amount does not reduce your dwelling coverage limit and is included at no additional charge. A higher coverage limit may also be purchased.
Fair Rental Value and Additional Living Expenses: In the event your rental property becomes uninhabitable as the result of a covered loss, you will be compensated up to 10 percent of the dwelling coverage limit for lost rental income while the insured dwelling is being repaired. If you occupy the dwelling, 10 percent of the dwelling coverage limit may be used for any increased expenses you incur in order to maintain your normal standard of living while the dwelling is being repaired. These amounts do not reduce your dwelling coverage limit and are included at no additional charge. Higher coverage limits may be purchased.