What is the structural overview of the Homeowners Policies known as?

The structural overview of Homeowners Policies is commonly referred to as DICE. This acronym is used to help memorize the critical components of a standard homeowners insurance policy. DICE stands for:

• Dwelling Coverage: This part provides coverage for the physical structure of the home itself, including the walls, roof, and flooring.

• Income: This refers to loss of use coverage, which provides financial assistance when the insured home becomes uninhabitable due to a covered loss, helping to cover additional living expenses.

• Contents Coverage: This covers the personal belongings inside the home, such as furniture, clothing, and electronics, protecting them against various risks defined in the policy.

• Extras: This includes other coverages or options that may be included in a homeowners policy, such as liability protection, medical payments, and endorsements for specific perils.

Understanding the DICE acronym is crucial for homeowners as it encapsulates the main areas of coverage and helps policyholders assess their insurance needs effectively.