What Is My Neighbor Paying for Their Homeowners Insurance – Dwelling Policy?
|44, Female, Married, Golden, Colorado)|
|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|
|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