There are several homeowners insurance policy types, but the one Grillo & Associates field the most questions about is Dwelling Insurance coverage. That is because many homeowners are unfamiliar with the term. Dwelling Coverage is a subset of a homeowners or condo insurance policy that protects the actual physical structure of a residence, as well as any permanent fixtures attached to it. Examples include the roof, its walls, windows, floors, foundation, countertops, flooring, built-ins such as furniture and/or appliances, and attached structures including porches and garages. Another benefit of Dwelling Insurance coverage is that this type of policy often covers repairs to electrical, plumbing, and HVAC systems as well. If you have questions about Nassau County Dwelling Insurance or Dwelling Insurance in Suffolk County, give Grillo & Associates a call. We’ll be glad to go over the finer points to make certain your home is well-protected.
Why should you consider Dwelling Insurance in Suffolk County (or Nassau County Dwelling Insurance for that matter)? Because, in case of an unforeseen disaster that destroys all or part of your residence, this coverage enables you to rebuild your home at the then-current prices. All too often, home and condo owners find out the proverbial ‘hard way’, that their property’s replacement value is far outdated, meaning if their Dwelling Insurance policy is old or not updated, they will have to find some other means of financing a complete renovation or rebuild of their home.
At this point, you may be wondering, “What is the difference between having homeowners and Dwelling Insurance? Isn’t the one policy sufficient for my needs?“ While it is true that most homeowners insurance policies offer replacement cost coverage for your home’s structure, the value of having Dwelling Insurance is that it typically helps pay for repairs and/or replacement using construction materials of a similar quality while at the same time, disregards factors such as home depreciation due to its age. If you own a legacy or historic home, for example, it is very important to preserve your residence’s structural integrity by renovating, repairing, or rebuilding using the same materials as in the original build.
Be aware, as with most policies, that there are limitations to a Dwelling Insurance policy. Water damage, including flooding, is not a covered peril under a dwelling policy. And while fire and lightning are covered perils on the basic form, damage, or losses caused by vandalism and/or malicious mischief are available for an additional premium. To be sufficiently covered, many homeowners with questions about Nassau County Dwelling Insurance and Dwelling Insurance in Suffolk County turn to the leading insurance team that serves thousands of households on Long Island – Grillo & Associates. Bring us your questions regarding your home and/or business coverages for a prompt, easy-to-understand response. For your complete peace of mind, contact our team today!
