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"Defining" Moments with Sherry: Components of Your Homeowners Policy

Homeowners insurance document in front of model house

Each policy you have contains certain components. Your car insurance has liability, collision, uninsured motorist, medical payments, and personal injury. Your homeowner’s policy has similar components, but they are related to your home. The most important components of your homeowner’s insurance policy are:

  1. Residence or Coverage A-which pays for repairs or rebuilding of the home if it is damaged or destroyed by a named peril on the policy. This covers the house, any attached structures, permanent fixtures in the home, and anything that makes the home complete such as plumbing and electrical.
  2. Related Private Structures or Coverage B- will pay for repairs or rebuilding of a related private structure on the property, if it was damaged or destroyed by a named peril. These structures are in no way attached to the home but are on the property, such as a garage or a shed.
  3. Personal Property or Coverage C- will pay for damage or loss of personal belongings (this does not include appliances that are permanently installed in the home) as long as the loss or damage was caused from a named peril.
  4. Additional Living Expenses & Loss of Rent or Coverage D- pays for increased costs to live away from the home while repairs or rebuilding is done. This may include hotel bills and meals. For example, if part of an insured’s home has fire damage which caused the rest of the home to suffer smoke damage and the home is not livable until the smoke damage is cleaned from the home, a hotel stay may be necessary.
  5. Personal Liability per Occurrence or Coverage L- covers the homeowner if they are liable for an injury of another person or damage to some else’s personal property. If someone were to slip and fall on their property, for example, there may be coverage under Coverage L.
  6. Medical Payments per Person or Coverage M- is coverage for the medical bills of someone who is not an insured and is injured on the property.

Remember that each policy is different and may contain only some of the above coverages. The limits will also be different on each policy. Whether there is coverage for a loss is always dependent on the cause of the loss. Your local agent is always a great resource if you are unsure of your coverage or have questions!

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