HP Package PROPERTY

Property: Coverage A

Dwelling

Property: Coverage B

Other Structures

Property: Coverage C

Personal Property

Property: Coverage D

Loss of Use

Coverage A: Dwelling

Covers the dwelling and structures attached to it

• Land NOT included
• At least 90% of the actual value of the dwelling

• Must be owner occupied
• If > 30 years old, must be in excellent condition

Minimum of $40,000 in coverage

Coverage B: Other Structures

Covers structures other than the dwelling on the residence premises

• Coverage amount is 10% of Coverage A
• Structure can NOT be for farming or business use
• Example:

Coverage C: Personal Property

Covers the contents of the dwelling

• Coverage amount is 50% of Coverage A
• Does NOT cover motor vehicles
• Usually an ACV coverage, can be endorsed to RCV
• Example:

Coverage D: Loss of Use

Covers expenses associated with living elsewhere

• Coverage amount is 20% of Coverage A
• Allows insured to maintain “normal” standard of living
• Example: