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Homeowners Insurance Coverages

Description of Coverages

The homeowners policy is comprised of four property limits and two liability limits. The property limits are all a percentage of the dwelling limit. The standard coverage limits are listed. Increased limits may be available depending on your specific program.

Disclaimer - Coverage descriptions have been abbreviated for your convenience. Please refer to the Massachusetts Homeowners Insurance policy for a more detailed description of coverages.

Dwelling Your home is covered for direct physical loss resulting from fire, lightning, wind, hail, smoke, vandalism, explosion and many other perils. The dwelling limit is based on the replacement value of the home. Many homes are underinsured or overinusred and the homeowners don’t realize it until the have a claim.
Other Structures Coverage for structures on your property, such as a shed, detached garage or fence is included in the Other Structures limit. The standard policy offers 10% of your dwelling limit for other structures.
Personal Property Coverage for your furniture, clothing, appliances, and other personal belongings is included in the Personal Property limit. The standard policy offers 50% of the Dwelling Coverage for your personal items. Some classes of property such as jewelry, furs, fine arts, and computers have interior limits in the policy. Additional coverage is available for these types of items on the scheduled personal property endorsement.
Loss of Use If you have a covered loss and cannot live in your home, the policy will cover necessary additional living expenses you incur in order to maintain the standard of living to which you are accustomed. The standard policy offers 20% of your dwelling coverage for Loss of Use.
Personal Liability You and your family are covered for bodily injury and property damage claims. The most common example is a slip and fall on your property. We recommend a limit of $500,000. The Personal Umbrella Policy offers additional liability coverage over your home, auto and other policies. Limits of 1 Million to 5 Million are available.
Medical Payments Medical Payments covers the necessary medical expenses resulting from accidental injury to others on your property, or by you or a family member. The standard policy offers $1,000 of coverage.
Personal Property Replacement Cost With this coverage your personal property is covered for its full replacement value with no deductions for depreciation.
Replacement Cost Protection The coverage provides for the full replacement value of your home in the event the current replacement value exceeds your policy limit. The coverage is limited to a certain percentage of your Dwelling coverage. In order to be eligible for the coverage you must be insured to 100% of the replacement value of the home. Most banks and mortgage companies require this coverage.
Scheduled Personal Property The homeowners policy contains certain interior limits for valuable items such as jewelry, furs, fine arts, and computers. These items can be scheduled on your policy for their appraised value. Additional coverage is provided for mysterious disappearance and breakage. These two coverage are not included under the standard homeowners form.
Condominium Policies Condominium policies include all the property and liability coverages listed above with exception of the Other Structures limit. You choose the Personal Property limit that will cover your personal items. Limits are subject to a minimum limit of $20,000.
Tenants Insurance Tenants Insurance, also known as renters insurance, includes all the property coverages listed above with exception of the Dwelling and Other Structures coverage. You choose the Personal Property limit that will cover your personal items. Limits are subject to a minimum limit of $20,000.