Coverage Offered
Dwelling
DWELLING POLICY for 1 - 4 family unit dwellings that are either owner or tenant-occupied structures.
Perils covered are Fire or Lightning and Internal Explosion. Unless endorsed with the DP 400 Replacement Cost Endorsement, the policy is an Actual Cash Value policy. Dwelling Policy
For an additional premium, Extended Coverage (windstorm, hail, explosion, riot or civil commotion, aircraft, vehicles, smoke, and volcanic eruption) and Vandalism or Malicious Mischief may be added to the policy.
THE DESCRIPTION OF COVERAGES BELOW ARE INTENDED AS AN OVERVIEW OF AVAILABLE COVERAGE. PLEASE READ THE APPLICABLE FORMS AND ENDORSEMENTS FOR COMPLETE TERMS, INCLUDING DEFINITIONS, CONDITIONS AND EXCLUSIONS.
Coverages Available
Coverage A - Dwelling – Covers damage to the Dwelling caused by covered perils. Up to 10% of the limit of liability may be used to cover loss to Other Structures caused by covered perils, and up to 10% of the limit of liability may be used for loss of Fair Rental Value. In addition, the policy covers Debris Removal. Payments made for Other Structures, Fair Rental Value or Debris Removal reduces the amount of monies available to repair/replace the damaged Dwelling.
Coverage B - Other Structures – Additional coverage may be purchased to cover structures set apart from the dwelling. This endorsement supplements the 10% sub-limit afforded under Coverage A - Dwelling and will not reduce the amount available under the Coverage A limit of liability.
Coverage C - Personal Property – Covers contents usual to the occupancy of the insured dwelling. Up to 10% of the limit of liability for this coverage may be used for covered loss to your personal property while anywhere in the world. For renters and condominium unit owners, up to 10% of the limit of liability may be applied to covered loss to additions, improvements, and alterations. Payments made for worldwide coverage or additions, improvements, and alterations reduces the amount of monies available to repair/replace the damaged property. No replacement cost coverage is available for contents.
Coverage D - Fair Rental Value – May be purchased in any amount up to 20% of the Coverage A - Dwelling limit of liability and will compensate you for the fair rental value of your dwelling while it is not fit to live in due to a covered loss, whether you live there or rent it to others. This coverage supplements the 10% sub-limit afforded under Coverage A – Dwelling and will not reduce the amount available under the Coverage A – Dwelling limit of liability. DP 700
Replacement Cost – Pays to repair or replace the damaged or destroyed building with like or equivalent construction up to the policy’s Coverage A – Dwelling limit of liability . Not all dwellings will qualify for this coverage. Refer to Replacement Cost addendum form (CFP-RCA-2) to determine if property meets underwriting guidelines. Replacement cost coverage is not available for contents.
Ordinance or Law - May be purchased in any amount up to 10% of the Coverage A – Dwelling limit of liability. Provides coverage for additional reconstruction costs after a covered loss to bring the dwelling up to required residential building code standards in effect at the time of loss or rebuilding. DP 500
Inflation Guard – Increases the Limits of Liability for Coverage A - Dwelling and, if present, Ordinance or Law Coverage, by a percentage annually determined by the FAIR Plan to reflect inflationary changes in the cost of construction. There is no cost for this endorsement, but any increase in the amount of the Coverage A- Dwelling limit of liability will result in an increased premium. If the FAIR Plan determines construction costs have not increased, there will be no increase in the policy limits. The FAIR Plan does not guarantee the sufficiency or accuracy of any percentage increase it may apply, or of coverage generally. DP 600
Plants, Shrubs and Trees - Coverage is provided for up to $250 for any one tree, plant or shrub including landscaping and debris removal expense. DP 00 17
Radio & TV Antennas, Awnings, Canopies & Signs - Coverage for these items is provided under the Coverage A – Dwelling or Coverage B – Other Structures limit of liability as applicable, excluding the peril of Windstorm or Hail. Coverage for Windstorm or Hail can be provided in any amount desired by endorsement. DP 00 19
Improvements, Alterations & Additions – Tenants or Condominium unit owners may purchase this coverage in any amount to cover improvements, alterations and additions made to the described location. This endorsement supplements the 10% sub-limit afforded under Coverage C – Contents and will not reduce the amount available under the Coverage C limit of liability Tenants or condominium unit owners may apply up to 10% of the Coverage C limit for improvements, alterations and additions made to the described location. DP 00 31
Earthquake Coverage - Available through the California Earthquake Authority (CEA) and written in conjunction with our residential policy. Building coverage applies to main dwelling only, and limits must match the FAIR Plan building limit. Optional coverage limits are available for personal property and loss of use. Go to the CEA website at www.earthquakeauthority.com to obtain a premium estimate.