Coverage That Fits Your NeedsDwelling Fire Insurance Coverage
You purchase insurance for peace of mind, but there are times when comprehensive coverage is more than you need. That is why American Modern Insurance Group offers dwelling fire insurance coverage.
We are licensed in all fifty (50) states and specialize in writing insurance unlike our competitors. Rather than focusing our
coverage on items which do not fit your needs, we have developed basic coverage for catastrophic events. You will only pay for what you need -- coverage at a reasonable price.
With American Modern's dwelling fire policy, you will not only purchase quality, you will purchase efficiency. Our claims staff takes great pride in settling claims as quickly as possible. In fact, 87% of our claims were settled in less than thirty (30) days during severe weather-related events in 1998.
- How is a Dwelling Fire policy different than a Homeowners HO-3 policy?
- What Dwelling Fire (DP-1) Policies Provide
- Handy Options, Benefits and Extras
- Read Your Policy Carefully
- How to Obtain an American Modern Policy
How is a Dwelling Fire policy different than a Homeowners HO-3 policy?
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Dwelling Fire DP-1 Policies:
A Dwelling Fire (DP-1) policy protects a home against the perils specifically named in the policy. Many common causes of damage, such as fire, hail and lightning, are usually listed as a covered named peril in a Dwelling Fire policy. If something other than a named peril causes damage to the home, the policy does not cover the loss.
- Dwelling Fire policies typically settle claims at actual cash value or repair cost. If the homeowner desires protection for the contents of the home, this coverage is optional and needs to be added to the policy. A Dwelling Fire policy may also offer optional liability protection.
In general, a Homeowners HO-3 policy protects a home against most anything that can cause damage or loss to the home and its contents, unless a peril is specifically excluded from the policy protection. For example, if earthquakes are excluded, the policy will not cover losses caused by this peril.
- Covered losses to the home and contents may be settled on a replacement cost or actual cash value basis, depending on the coverage provided. Liability coverage is usually included in the policy.
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What Dwelling Fire (DP-1) Policies Provide
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Dwelling Fire (DP-1) is a Named Peril insurance policy, which means the policy only covers losses to covered property that result from a peril listed in the policy. If damage is caused by an event that is not listed in the policy, the policy does not cover repair or replacement.
A Dwelling Fire (DP-1) policy covers the home and other structures (detached garages and sheds, for example), for all of the following named peril events:
- Fire or lightning
- Explosion
- Windstorm or hail
- Riot or civil commotion
- Aircraft
- Vehicles owned by others
- Smoke
- Volcanic eruption
- Actual Cash Value Coverage for Total Losses. If the home or other structures are ever destroyed or damaged due to a covered loss, we will pay the Actual Cash Value for the loss.
- Repair Cost Coverage for Partial Losses. Most losses are partial - which means, the home has sustained some damage due to a covered loss, and needs repair. We'll pay the cost to repair the damage, unless that cost exceeds the actual cash value of the property. In those rare cases, we will pay the actual cash value for the loss.
- Coverage for Other Structures. The policy protects detached garages and sheds on your property against loss, too - at 10% of the overall dwelling coverage limit.
- Just like with the home, the loss that caused damage to the other structure must be one of the perils listed on the policy.
- Personal Property Coverage. This optional coverage helps protect the homeowner's personal property against damage caused by named perils.
- Fire Department Service Charge Coverage. If the fire department needs to come to the home, the homeowner may be billed for the trip they make. Our policy pays for the charge, up to $500.
- Reasonable Repair Coverage. Sometimes, homeowners need to make immediate repairs to the home to guard against additional damage. For instance, you may need to cover your roof if a windstorm blows part of it away. Our policy reimburses policyholders for reasonable repair expenses incurred to protect your home against further damage.
- Vandalism and Malicious Mischief. Optional coverage that protects against this type of damage.
- Personal Liability Coverage. An optional coverage that protects our customers should they be held liable for accidents:
- that happen to other people while they are on the insured property.
- that are caused by the customer's own negligence when away from the insured property.
- Premises Liability for Rental Homes. This optional coverage is important for our customers who rent out their homes to others. It protects the customer if they are held liable for accidents that happen to other people while they are on the insured property.
- Burglary coverage. Optional coverage that protects the home and personal belongings for their actual cash value, if someone forces entry into the home. This coverage is not available in all states, ask your agent for details.
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Handy Options, Benefits and Extras
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- Many Deductible Options. Our customers can select a $250, $500 or $1,000 deductible, which applies when the home suffers a covered loss. Other select coverages may have different deductibles than the one that covers the home structure; ask your agent for details.
- Convenient Payment Options. We offer our customers many flexible ways to pay the premium on their policies. They can pay it all at once, or in convenient installments. They can take advantage of EZPay™, a once-a-month electronic funds transfer that pays the premium due - and the customer even picks the day of the month the transfer occurs. We also take debit cards, Discover®, MasterCard®, Visa® and American Express®.
- Fast and Reliable Claims Service. Our customers can report a claim online or over the phone, any time day or night. Customer service representatives take claims in person from 8 a.m. to 7 p.m. Eastern Time, Monday through Friday. We also have after-hours and weekend service for emergencies!
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Read Your Policy Carefully
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Our site contains general descriptions of the policies and coverages we provide. While you may use our site to help you understand the different types of coverage available, remember that this site does not describe all of the terms, conditions, limitations or exclusions in your policy, nor does it modify or change any definitions expressly stated in any contracts of insurance. Our policy and coverage offerings also vary from state to state. We encourage you to speak to your insurance agent and to read your policy contract to fully understand your coverage.
How to Obtain an American Modern Policy
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We have Agents located throughout the country. To find one in your area, please Customer Care or call them at 1-800-543-2644 Monday through Friday, 8 a.m. to 7 p.m. Eastern Standard Time.
