What are the limits in the standard homeowners policy?
[Note: this answer is based on the Insurance Services Office’s HO-3 policy.]Coverage A and B cover your dwelling and other structures on the premises on an “all risks” basis up to the policy limits. You set the limit for Coverage A when you buy the policy. The Coverage B limit is usually equal to 10% of the policy limit on Coverage A. Coverage C covers losses to your personal property on a “named perils” basis, which means you’re covered for all the perils specifically named on your policy. The policy limit on Coverage C is equal to 50% of the policy limit on Coverage A. Coverage D covers extra expenses you may incur when the residence can’t be used because of an insured loss. The policy limit for Coverage D is equal to 20% of the policy limit on Coverage A. You choose the Coverage E – personal liability – limit when you buy the policy.
[Note: this answer is based on the Insurance Services Office’s HO-3 policy.] Coverage A and B cover your dwelling and other structures on the premises on an “all risks” basis up to the policy limits. You set the limit for Coverage A when you buy the policy. The Coverage B limit is usually equal to 10% of the policy limit on Coverage A. Coverage C covers losses to your personal property on a “named perils” basis, which means you’re covered for all the perils specifically named on your policy. The policy limit on Coverage C is equal to 50% of the policy limit on Coverage A. Coverage D covers extra expenses you may incur when the residence can’t be used because of an insured loss. The policy limit for Coverage D is equal to 20% of the policy limit on Coverage A. You choose the Coverage E – personal liability – limit when you buy the policy. The limit on Coverage F – medical payments to others – is usually set at $1000 per injured person.
[Note: this answer is based on the Insurance Services Office’s HO-3 policy.]Coverage A and B cover your dwelling and other structures on the premises on an “all risks” basis up to the policy limits. You set the limit for Coverage A when you buy the policy. The Coverage B limit is usually equal to 10% of the policy limit on Coverage A. Coverage C covers losses to your personal property on a “named perils” basis, which means you’re covered for all the perils specifically named on your policy. The policy limit on Coverage C is equal to 50% of the policy limit on Coverage A. Coverage D covers extra expenses you may incur when the residence can’t be used because of an insured loss. The policy limit for Coverage D is equal to 20% of the policy limit on Coverage A. You choose the Coverage E – personal liability – limit when you buy the policy. The limit on Coverage F – medical payments to others – is usually set at $1000 per injured person Where and when is my personal property covered? Cover
[Note: this answer is based on the typical Insurance Services Office’s HO-3 policy.] Coverage A and B cover your dwelling and other structures on the premises on an “all risks” basis up to the policy limits. You set the limit for Coverage A when you buy the policy. The Coverage B limit is usually equal to 10% of the policy limit on Coverage A. Coverage C covers losses to your personal property on a “named perils” basis, which means you’re covered for all the perils specifically named on your policy. The policy limit on Coverage C is equal to 50% of the policy limit on Coverage A. Coverage D covers extra expenses you may incur when the residence can’t be used because of an insured loss. The policy limit for Coverage D is equal to 20% of the policy limit on Coverage A. You choose the Coverage E – personal liability – limit when you buy the policy. The limit on Coverage F – medical payments to others – is usually set at $1000-$5000 per injured person. Where and when is my personal propert
