Damages
A sum of money that a party is legally obligated to pay to another as compensation for injury.
Declarations
The part of the policy that provides detailed information about the insured, the insurer and the coverages (commonly referred to as Policy Declarations).
Deductible
The amount of a claim that the policyholder has agreed to pay. This amount must be satisfied before a claims payment is made. Common homeowner's insurance deductibles are $500 and $1,000. Generally, the higher the deductible, the lower the premium.
Depreciation
A decrease in the value of any type of tangible property over time.
Dwelling Coverage
The most obvious coverage is protection against damage to or destruction of your residential structure, your dwelling. If your home is destroyed by fire, lightening or whatever other perils your policy covers, the insurance company will cover the cost to rebuild or repair your home.
Dwelling Insurance
Dwelling insurance provides minimal coverage at a much lower price than traditional homeowners insurance. Many homeowners use dwelling coverage to protect their rental properties or vacation homes.
