Dwelling Policy in Insurance

The part of a homeowner's policy that may help repair or rebuild your home's physical structure, condo, or place of residence if damaged by a covered peril.

The part of a homeowner's policy that may help repair or rebuild your home's physical structure, flat, or place of residence if damaged by a covered peril such as lightning strikes or fires; some versions can cover additional living expenses.

There are different coverages in the tier of policy that you choose. Note: DP stands for "dwelling policy".

- DP-1: for very limited coverage
- DP-2: for moderate coverage
- DP-3: for comprehensive coverage.

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Related Glossary

Guarantor

A guarantor is someone who agrees to pay the rent and any other associated costs if the tenant is unable to do so.

Annual Return

Annual return measures how much money, or profit, is made on a property as a percentage of the cost of that investment.

Landlord Insurance Glossary Index

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