What Is My Neighbor Paying for Their Homeowners Insurance – Dwelling Policy?
Policy Type: DP3 – Dwelling Fire Policy |
Type of Home: Traditional Site Built Single Family Home |
Discounts: Increased wind/hail deductible, lowered other structure coverage, removed additional living expense coverage |
Selected Coverages With Progressive/ASI |
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Dwelling Coverage: $300,000 Other Structures: $6,000 Additional Living Expense: No Coverage Personal Property: No Coverage Personal Liability: $100,000 Medical Payments to Others: $1,000 per Person |
All Perils Deductible: $500 Wind/Hail Deductible: 5% of Dwelling Coverage $15,000 |
A customer who already has auto insurance through requested a quote for a secondary home. Since it is not their primary residence a Dwelling Policy was the correct type of policy. These policies are also ideal for though who own rental properties. The customer did elect for a higher wind/hail deductible to help lower the cost of the policy. This means she would be facing a much higher out of pocket expense if she needed to file a claim for hail damage to her roof.
Please note that this is only meant as an example and prices may vary depending on several factors.
Total 12 Month Premium: $151.19
Monthly Installments: $12.59