Dwelling Coverage, Coverage A, under the homeowners policy protects your "Castle" from various perils. This coverage applies only to the building itself and not to personal property in and around the building. Those items are covered under the Unscheduled Personal Property or Contents Coverage and the Scheduled Personal Property Coverages.
There are several types of homeowners policies available, although the HO-3 is the most common policy in use today. If your coverage is not an HO-3, check with your agent. You will be surprised at how little it costs to upgrade your policy to the HO-3.
The HO-1 and HO-2 policies are called "Named Peril Policies". What this means is that the policy contains a list of the type of losses covered. If what happened to your dwelling is not on the list, it is not covered. The HO-2 has a longer list of items covered than the HO-1. Many companies today do not even offer the HO-1 or HO-2 policy because they feel most people want the broader protection of the HO-3 policy and that is the only policy they will offer.
The HO-3 policy is referred to as a "Special Form" and basically works in reverse of the HO-1 and HO-2. What this means is that all types of physical loss to the dwelling are covered under the policy except for those items listed as specifically excluded. The policy contains a list of those items excluded (or not covered) and a list of items that may have limitations.
If what has happened to your dwelling is not on the listed of exclusions, the loss is covered under your HO-3 policy. If the loss is not excluded, but has limitations, the loss is covered but only for the limit stated in your policy.
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