Coverage A – Dwelling  Covers the value of the dwelling itself (not including the land). HO-4 (renter’s insurance) typically has no Coverage A (dwelling coverage), although it has additional coverages for improvements.

Coverage B – Other Structures Covers other structures around the property that are not used for business, except as a private garage, typically limited at 10% to 20% of the Coverage A, with additional amounts available by endorsement.

Coverage C – Personal Property Covers your personal property. It reimburses you if your personal belongings are burglarized or damaged by a covered peril. That means everything from clothes to electronics to portable appliances are insured against covered damages or theft.

Coverage D – Loss of Use/Additional Living Expenses Loss of use coverage covers any additional living expenses, meaning any necessary cost that exceeds what you usually spend. For example, you usually spend $300 per month on groceries. However, while your home is being repaired, you spend $400 a month since you have to dine out instead of cook at home. Your policy will cover the $100 difference. Examples of additional living expenses may include but are not limited to; hotel or rental home charges, food and utility costs, and extra car mileage.

Additional Coverages Covers a variety of expenses such as debris removal, reasonable repairs, damage to trees and shrubs for specifically named perils (excluding the most common causes of damage, wind, and ice), fire department changes, removal of property, credit card/identity theft charges, collapse, landlord’s furnishing, and some building additions. These vary depending upon the form.

Exclusions In an open perils policy, specific exclusions will be stated in this section. These generally include earth movement, water damage from a flood, power failure, neglect, war, nuclear hazard, septic tank backup expenses, and intentional loss. For example, a 2013 survey of Americans found that 41% believed mold was covered. However, it is typically not covered if the water damage occurs over a while, such as through a leaky pipe.

Floods Flood damage is excluded under standard homeowners’ and renters’ insurance policies. Flood coverage, however, is available in the form of a separate policy both from the National Flood Insurance Program (NFIP) and from a few private insurers.