Dwelling Fire Insurance

Dwelling fire insurance covers far more than just fires – but it's not intended for every homeowner. If you’re wondering whether or not dwelling fire insurance is right for you, WSMT Insurance is here to help. Here’s what you need to know.

Dwelling fire insurance is a specialized policy intended for properties that aren't the owner's primary residence. This could include any of the following:

• Rental Properties
• Vacation Homes
• Seasonal or Secondary Homes
• Some Older Homes

Dwelling fire insurance is purchased by the homeowner, not the tenant. Therefore, if you're renting a property, you'll want to look into a renters insurance policy instead.

A dwelling fire insurance policy covers many of the same risks as a standard homeowners insurance policy. As with standard home insurance policies, dwelling fire coverage is available at widely varying levels of protection, including:

• DP-1: Basic Form Dwelling Fire Insurance – Covers damage caused by lightning, fires, and internal explosions.
• DP-2: Broad Form Dwelling Fire Insurance – Covers damage caused by vandals, burglars, ice, snow, fallen trees, frozen pipes, and water or steam leaks. It also covers electrical damage, broken glass, and collapse.
• DP-3: Special Form Dwelling Fire Insurance – Also known as an open-perils policy, this comprehensive insurance policy covers all risks except several named exclusions like war, neglect, and earthquakes.

Dwelling fire insurance policies are specifically written to cover homes that you don't live in permanently. Unlike home or condo insurance, this type of policy is often used for Maryland rental properties, summer homes, and vacation properties. This policy is extremely beneficial if you do not visit your secondary property often, live far away, or allow others to use it regularly.

Not sure whether a dwelling fire insurance policy is right for you? WSMT can talk to you about your situation and help determine the best policy for your budget and specific risks. Contact us today to get started!