Allstate - Learn about home insurance online and browse coverage options

Actual Cash Value - In many states, this means that in the event of a covered loss, you'll be paid the current replacement cost of whatever you lost, minus depreciation. (This generally includes the estimated wear and tear on the item damaged or the loss in value of that item because of aging and use). The total amount you'd be paid would be subject to the terms of your particular policy, including applicable deductible and coverage limits.

Assessment -A charge, tax or fine against all individual condo owners by the association.

Association - The management body of the condominium owners collectively.

Deductible - The portion of a covered loss that you agree to pay before the insurance company becomes responsible for payment under the policy. A larger deductible usually means a lower premium. For example, if the covered claim is $1,000 and your deductible is $250, you pay $250 and your insurance company will pay $750.

Liability Protection - This typically provides coverage if you, as an insured person, are legally obligated to pay damages due to bodily injury of others or for damage to their property arising out of a covered loss. For example, you're playing catch with your friends, you throw the ball and it inadvertently crashes through your neighbors' window and breaks something. The property damage you accidentally caused may be covered here.

Coverages*

Additional Living Expenses Coverage - We'll pay the reasonable increase in living expenses necessary to maintain your normal standard of living when a direct physical loss we cover makes your residence premises uninhabitable for up to the amount of time specified in the policy. This may include payments for the additional costs of a place to stay, food and other increased living expenses.

Dwelling Protection - The building structure defined on your Policy Declarations, where the named insured resides and is principally used as your private residence. Protection for your home from many perils (Exceptions: Renters and Condominium Policy)

Family Liability Protection - Provides protection for insured persons who become legally obligated to pay for covered accidental bodily injury or property damage to others. This protection does not cover auto liability claims.

Guest Medical Coverage - Provides protection for your guests, who are accidentally injured on your property as a result of a covered loss. This protection pays for the reasonable and necessary medical expenses they incur, regardless of who was at fault.

Loss Assessment Coverage - Pays for your share of expenses for a covered loss, up to your policy limits, when your association requires an assessment on all unit owners for certain covered losses.

Personal Property Protection - Provides protection against covered loss to movable property like a stereo, bicycle, furniture or clothing. Most Homeowners, Condominium, Mobile home or Renters Insurance Policies set aside special coverage limits for movable personal property, or categories of personal property, like jewelry, money and securities. You can increase the coverage limits for these and other possessions by selecting an Optional Coverage Endorsement to your Homeowners, Condominium, Mobile home or Renters Insurance Policy.

Protection for Other Structures - Protects an insured's structures which are separated from the dwelling by a clear space. Protects structures like a detached garage, storage unit, fence, gazebo…(Exceptions: Renters and Condominium Policy)

Replacement Cost Coverage - In the event of a covered loss, you may be reimbursed for the cost you incur to replace many of your damaged contents with similar property, brand new. The total amount you'd be reimbursed is subject to the terms and conditions of your particular policy, including applicable deductible and coverage limits.

* Please see the disclaimers below.

All coverages are subject to availability and qualifications. Other terms, conditions, and exclusions may apply. This is a brief description of coverages; this is not a contract. Please read an Allstate policy for full coverage details.

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