A. Dwelling Coverage

• What It Covers: Dwelling insurance protects the physical structure of your property. This includes the dwelling itself (such as the house or apartment) and other structures on the premises (e.g., garages, sheds).
• Why It Matters: As a homeowner, you’ve invested in your property. Dwelling coverage helps shield that investment from damage caused by covered perils like fire, windstorms, or vandalism¹.

b. Coverage for Rented Apartments

• Landlord Insurance: If you own an apartment or condo that you rent out to tenants, consider landlord insurance. It’s specifically designed for rental properties.
• What It Includes:
  • Property Damage: Covers damage to the building, appliances, and furnishings.
  • Liability Protection: Guards against claims arising from injuries on your property.
  • Loss of Rental Income: If your property becomes uninhabitable due to a covered event, this coverage compensates you for lost rental income.
  • Vandalism Coverage (sometimes included): Protects against intentional damage by tenants or outsiders.

c. Coverage for Owned Properties

• Homeowners Insurance: If you live in the property yourself, homeowners insurance provides similar coverage to landlord insurance but with some differences.
• Key Features:
  • Personal Property: Unlike landlord insurance, homeowners insurance covers your personal belongings within the property.
  • Liability Coverage: Protects you if someone gets injured on your property.
  • Loss of Use: If your home becomes uninhabitable, this coverage helps with temporary living expenses.
  • Additional Structures: Covers detached structures (like a garage or gazebo).