Why should you purchase a dwelling policy instead of homeowners policy?

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Written by Jeffrey Johnson
Insurance Lawyer Jeffrey Johnson

UPDATED: Sep 29, 2011

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Insurance Question from Macon, GA

Asked on 09/29/2011

Why should you purchase a dwelling policy instead of homeowners policy? NULL

Answer given on October 01, 2011

The terminology of dwelling versus homeowner insurance can be techincal or something else. They both cover a home.A homeowner insurance policy covers people who own a home and live in it. It covers the home, other structures (if any) personal property and loss of use. The personal property is usually a percentage of the home 50-75% of the home. Loss of use can be a dollar amount, percentage of the home amount or an unlimited dollar amount for a certain period of time.A dwelling policy, generally known as a rental dwelling policy has the dwelling amount, a specific amount of personal property and loss of use is more limited. The personal property is also usually limited to an actual cash value for a dwelling policy while a homeowner policy is on a replacement cost basis. You should talk to your insurance agent to fully understand the differance betweeen the policies and what is best for your situation.

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