Dormody Agency Address dormody insurance agency logo
  Help us find the best Homeowners Insurance quote for you!

 Policy Types: 
Differerent structures require different types of policies. Your sturcture could require a Fire and EC, Dwelling Owner, HO-1, HO-2, HO-3, or HO-5 policy.The type of policy is determined by the occupancy, age, and condition of the structure. We will work with you to determine the correct policy to protect your structure. The cost of the policy is normally determined by policy type and the amount of coverage that is needed.

         If you rent or own a townhouse or condo, you will need a HO-4 or HO-6 policy to protect your personal property. HO-6 policies provide extra coverages for the condo and townhouse owner. One of the main factors that determines the cost of this type of policy is the amount of personal property that is covered.


 [The coverages mentioned here can be found on the declaration page(s) of your current policy. Please note: These descriptions are meant as a broad overview. They do not represent the exact language that may be found in your policy and they should not be used to determine whether or not a specific occurrence will be covered. The policy language for your specific structure and the determination that is made by the insuring company in the event of a claim is always the controlling factor.] However, it is our experience that insurance companies will work with an owner to achieve a fair and just settlement in the event of a loss.

  Coverage A — Dwelling: 
Coverage A is the maximum amount of coverage in thousands of dollars that the insurance company will pay in the event that the structure is totally destroyed by a covered peril. A few insurance companies offer replacement cost coverages for newer structures if the house is originally insured for its full replacement cost.        

    Coverage B — Other Structures: 
Coverage B is the amount of coverage that will cover appurtenant structures (structures that are detached from the main structure). This coverage is normally a percentage of the dwelling amount, is automatically included in the policy, and does not add to the cost of the policy. However, this coverage can be increased (for an additional premium) if an increased limit of coverage is needed.

  Coverage C — Personal Property: 
Coverage C is the maximum amount of coverage in thousands of dollars that the insurance company will pay for your personal propery if it is destroyed by a covered peril. Replacement cost coverage is often available for personal property should be strongly considered. 

    Coverage D — Loss of Use: 
Coverage D covers the total loss of use limits that the insurance company will pay so that an insured can continue to live in approximately the same type of living circumstances while an insured structure that is damaged or destroyed is repaired or rebuilt.
    Coverage E  — Liability: 
Coverage E covers the liability of a homeowner if a person is injured on the insureds property. In order for this coverage to come into effect, it must be determined that the homeowner was actually liable for the injury of someone that was on the property. For example: A homeowner may be liable if his property has an attractive nuisance such as an unfenced swimming pool or other existing unsafe condition of which he or she is aware. Homeowners have different levels of responsibility depending on the status of an individual (not in the insureds family) who comes onto the property. In other words, the homeowner is more responsible to an invited guest than to a trespasser on the property.
    Coverage F  — Medical Payments per person: 
Coverage F pays for immediate and necessary medical payments for a person (not in the insureds family) who is injured on the insureds property. This coverage exists for the benefit of the injured party and makes it possible for the injured party to recover medical expenses without becoming involved in a lawsuit against the property owner. The insurance company may pay medical payments to an injured party whether or not the property owner was actually liable.
    Policy deductible: 
The policy deductible is the amount that the property owner must pay in the event of a covered Homeowner insurance loss. Policy deductibles do not apply in the event of a liability or medical payment claim.
©; Minnesota Insurance Service Agency, Inc. — MISA  All Rights Reserved
Site Design and Webmaster: Inslink, Inc™
Additional InsLink Value Links   A reference site for webmasters