Dwelling insurance: A basic guide to financially protecting your home

by Jeannie VandeWeg 12/15/2024

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

Jeannie VandeWeg

“I was made for this job. It combines my three passions: people, homes, and Sonoma County!”

 Jeannie was born in Healdsburg, California and is one of the lucky ones who has always called Sonoma County "home." She's never taken this extraordinary place for granted and fully understands why it has such a pull on people from all over the country and world. She works as a full-time Realtor and loves guiding her clients prep their homes to sell and showing buyers around this beautiful county.