4 Types of Homeowners Coverage to Protect Your Home

Which homeowners coverage is right for you?

In part-one of this post for homeowners policy guide for first-time buyers, we looked at the 6 types of property coverage that one can include or exclude of named perils in customizing their policy. In this post, I highlighted the four types of property coverage that one should discuss with their local insurance about when underwriting a detailed coverage.

The Massachusetts Department of Insurance writes that underwriting guidelines of homeowners insurance differs from company to company or check out the insurance carriers such as Allianz, Allstate, Liberty Mutual, Munich RE, State Farm to learn more information about the different homeowners’ guidelines.

BRZ Insurance goal is to help our customers find the best policy coverage that matches your needs. Choosing the homeowners is easy with help from a BRZ agent.

Examining the 4 Main homeowners coverage

The following property coverage from A-D covers against sudden and accidental physical losses that are tailored one’s policy. Understanding the kind of coverage that best suits your needs can help save money in the long run. So when people are shopping for homeowners insurance, their choices for homeowners policy will ultimately determine the premium of their coverage and what their coverage includes or excludes.

Listed below are the four types of property coverage for homes:

A. Dwellers Coverage

The Dwellers Policy covers the insured from damages done to the surrounding property. Coverage is provided for both the insured’s property and their belongings.
B. Appurtenant Structures Coverage
Also known as “other properties,” this policy provides a range of coverage for damages the occurs to neighboring residents who are separated by a clear space, however, business and rented property without tenants are excluded from this particular coverage.
C. The Personal Property
This policy protects the personal property of the insured, and also when their personal property is being used by their guests or residents and the coverage can also extend to neighbors affected which provides a $1000 limit.
D. Loss of Use Coverage
This policy provides three types of coverage for different scenarios or conditions that displace those who are insured. The first type, the Loss of Use policy is designed to cover the insured if their property is deemed uninhabitable. The policy protects the insured by providing them money for additional living expenses to maintain a normal standard of living. The second option for this policy covers not only the damage to the insured’s property, but also damages to the residence’s property if it’s deemed uninhabitable, and it also covers the cost for the replacement value of their home or apartment and lastly, the third option covers the insured from direct damages and the neighboring property if it’s deemed uninhabitable by any civil authority, and it also covers others that are affected with coverage for living expenses for up to two weeks.

As mentioned above, the 4 main comprehensive property coverages varies depending on one’s need for coverage or exclusion.

For one-on-one consultation about which homeowners policy best fit your needs, submit a free homeowners quote with BRZ Insurance and we will work to create a customized coverage plan with a budget that works best for you.

Visit BRZ Insurance today at our two locations, in Framingham or Malden, MA. The BRZ Insurance Framingham location is accessible by the MBTA on Zone 5 Commuter Rail.

Our in Malden location is also accessible by the MBTA from Malden Station or take either the 106, 108 and 408 bus line.

Contact a BRZ agent now to learn more about homeowners insurance or how your coverage compares to see how much you can save on your insurance policy.

BRZ Insurance is changing the way people shop for auto, homeowners, renters, and umbrella insurance. By combining proprietary technology with unbiased advice, BRZ makes it easy for customers to compare and buy insurance from more than a dozen top nation-wide carriers all in one place. At BRZ Insurance agency, we are committed to delivering high-quality results, and we offer a diverse range of services including Home, Renters Workers' Compensation, Personal Auto, Commercial Auto, and General Liability among others. BRZ agents prioritizes customer satisfaction, and we firmly believe that your insurance policy should be one that fits your life, not vice versa.

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