Dwelling Fire Insurance

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At BayCoast Insurance, many of our dedicated team members are longtime residents of the South Coast. With the area’s rich history, picturesque scenery, recreational opportunities, and family entertainment, it’s easy to understand why our region attracts not just full-time residents but seasonal visitors and real estate investors as well.

The South Coast has so much to offer, so it’s no surprise that owning property here can be a truly rewarding experience. If you’re thinking about purchasing a residential rental property, a vacation home, or a seasonal home that may often be rented out to others, you should know that these investments may not be eligible for standard homeowners insurance.

You may need to obtain a different type of policy known as dwelling fire insurance.

A dwelling fire policy is insurance coverage designed specifically for smaller rental properties with three or fewer units, as well as unoccupied structures, such as vacant homes. Home insurance companies typically will not insure these types of properties because the owner does not live there full time, making these types of properties a higher risk to insure, as compared to  a primary residence.

In addition, a property owner may need to look into a dwelling fire policy for their home if the building is too far from a fire department, fire hydrant, or water source. The home’s age, style, or condition may also be a factor.  

Dwelling fire insurance provides coverage like that of a standard home insurance policy. For example, basic dwelling fire insurance typically includes protection for your building and its detached structures, such as a garage, deck, porch, shed, or fence, against losses that may be due to the following:

• Fire
• Smoke
• Lightning Strike
• Wind or Hailstorm
• Internal and External Explosions
• Aircraft and Vehicles (if they crash into your house)
• Vandalism or Malicious Mischief (does not include vacant homes)
• Riot or Civil Commotion
• Volcanic Eruption

You may expand this basic coverage by adding protections against other potential threats specific to your property, its location, and frequency of use. For example, an enhanced dwelling fire policy might include coverage for damages caused by a break-in, fallen trees, frozen or burst pipes, and more.

Since dwelling fire insurance does not include personal property or liability coverage typically found in a standard homeowner’s insurance policy, you may want to consider the extra layer of protection that umbrella insurance offers.  You may also customize your dwelling fire insurance by opting into financial protection for the following situations:

• Damage to personal property you leave or store in the building.
• Loss of rental income if your tenants must temporarily relocate while your property is being repaired.
• Medical expenses and legal fees for accident-related injuries that occur at your rental property.
• Costs related to lawsuits for wrongful eviction, invasion of privacy, libel, slander, and defamation of character.

As you can see, there are many options to consider when choosing a dwelling fire insurance policy. At BayCoast Insurance, we are ready to help you! If you have questions about this type of coverage for your residential rental or vacation property, please do not hesitate to contact us.  Our knowledgeable experts are here to help guide you so you have the insurance protection you need at the most affordable price.

If you need assistance or have questions about any of the personal insurance services and products we offer, please reach out to us today!