Keller Williams Space Coast

Secure your space with dwelling insurance

by Anne & Jay Humphreys 09/18/2022

house with text over top

Your home provides a safe space to live. What happens in the case of an emergency that compromises your home? Financially protecting your home can safeguard your space if perils arise. 

Dwelling insurance is the part of your homeowners insurance policy offering protection for the structure of the home. This article provides a basic guide to understanding dwelling coverage, policy scope and requirements. 

What is dwelling coverage?

If your home structure is damaged, dwelling coverage provides financial compensation. Your insurance policy would offer an estimate of the damages and provide funding for the cost of repairs. 

Your home structure includes walls, flooring, roof, foundation and windows. Sometimes dwelling insurance also covers attachments to the home, like a porch, garage, or deck.

How much dwelling coverage do you need if you own a rental property?

Rental property owners need a specific type of dwelling insurance for landlords. These policies generally include:

  • Liability coverage if the tenant is injured on the premises. 
  • Financial compensation for standard damages to property structure. 
  • Coverage for personal items being used by the tenant. 

Tenants should have renter’s insurance as well, as landlord's dwelling insurance won’t cover their personal items.

Is dwelling coverage required?

Dwelling coverage isn’t a requirement. However, most mortgage lenders do require dwelling insurance if you’re financing your home through them. Not only does it protect homeowners, it protects the lender’s investment.

About the Author
Author

Anne & Jay Humphreys

I have grown up living in Brevard County and absolutely love our area! Because I have lived here since the age of 6, I have had an opportunity to live in various locations throughout the county, growing up in Indian Harbour Beach. After purchasing a home and investment properties, I decided to pursue a real estate career and became licensed in 2005. Throughout my career I have worked not only in a good market but toughed it out in the downfall of the market as well. in addition to working traditional sales, successfully negotiated short sales with both sellers and buyers, as well as working many transactions with bank owned/REO properties. It is so wonderful to be back in a healthy market! My customers are invaluable to me and receive my utmost attention, priority, and respect. 

My husband, Jay Humphreys, acquired his Real Estate license in 2014 and has joined me in providing service to our clients. We enjoy the team aspect of Real Estate as Jay has been a licensed Insurance adjuster since 1997 and has a wealth of knowledge dealing with all aspects of insuring properties. He also has many years of construction experience and together we have purchased and remodeled 4 homes here in central Merritt Island.