Texas renters and property owners especially those in Austin may not qualify for the standard homeowner coverage. Maybe you do not need a comprehensive home policy for your property. Southwest Insurance Center suggests that you get extra coverage. There are different types of coverage under homeowner coverage, and dwelling fire insurance policy is one of them.
This policy is specially designed for residential property that belongs to you, but you do not live in it. It protects both the physical structure and the surrounding structures or the detached structures such as the garage, repair workshop, storage room, and fence. However, it does not offer protection against theft and liability.
There are various requirements when getting a dwelling fire insurance policy which includes;
- The property should have a maximum of four apartments, or it should be designed to hold at most four families.
- If a single family occupies the home, the family should not exceed five members
- In case of a mobile home, it has to be lying on a permanent foundation for it to qualify for dwelling fire insurance policy
Texas dwelling policy comes in different types which include;
Dwelling policy form 1
This coverage offers protection against lightning, explosions, smoke damage or any damages caused by the heating system. These may consist of perils due to stove or water heater. There are two options under form 1 which are vandalism and mischief, and the extended coverage. The extended coverage caters for damages as a result of smoke, volcanic explosions, windstorm, hail and other explosions.
Dwelling policy form 2
This coverage protects your property against the same damages as the dwelling form 1 but with some additions. These are burglary damages, electrical damage, freezing of pipes, water overflow or steam and falling objects among others.
Dwelling policy form 3
This policy is the most comprehensive form of dwelling fire coverage. It is also referred to as open perils or all risks coverage. Other than the damages catered for under the other two policies, it also protects your property against war, neglect, law and ordinances, mold, rot rust, intentional loss and earthquake.
If you wish to learn more and purchase a dwelling fire insurance policy in Austin, TX, do not hesitate to reach Southwest Insurance Center and we will be ready to help.