Homeowners Cheat Sheet

1. Dwelling Protection - This covers the structure of the home, it may also cover attached structures like a garage or a deck. Ideally your limit should be just higher than what it would cost to rebuild the home in today’s dollars.

2. Other Structures - Detached garage, outbuildings and shed would be protected under the other structures policy limits.

3. Personal Property - Coverage for personal belongings you keep within the home. Replacement cost is recommended on personal property otherwise you’ll only receive Actual Cash Value (ACV). An easy way to remember the difference: ACV = Replacement Cost - Depreciation. Replacement cost is the “best” coverage.

4. Liability Protection - Coverage for a visitor that is on your property and gets injured, a typical limit is 300K. You may increase your liability coverage here with an Umbrella Policy.

5. Medical Payments - Typical limits for Medical payments are 5K. It’s money that the carrier sets aside to pay for an injury in order to stay out of your major liability limits. Its meant to quickly help cover medical bills if someone is injured on your property.