Dwelling coverage is exactly what it sounds like, coverage for your dwelling aka home and the things that are permanently attached to it and its grounds. Your dwelling value is NOT the amount that you paid for your home, but instead the calculated amount it would cost to REPLACE your home.

You will likely see outbuilding coverage on your policy, even if you do not have a shed or garage. This coverage is for other structures on your property such as sheds, garages, pools, and even docks or boat lifts.

We all underestimate the value of all the stuff that we own until it needs to be replaced. Belongings coverage is calculated based on a percentage of your dwelling value and is meant to cover the stuff you own, at your house, away from the premises temporarily and in proper storage. If you have SPECIAL high value items like jewellery, art, or furs -- you may need to get additional coverage.

Additional living expense coverage is a coverage you may have without even realizing, and definitely a coverage you want. If you have to leave your home due to an insured reason, and need a place to stay because it is unsafe to stay at home, this covers the increase in the associated costs of living elsewhere.

Louder for those in the back -- IF you ever have a liability claim - it will likely be the HIGHEST COST CLAIM in your life. This is why liability should always be the highest amount of coverage on your policy. Personal Liability coverage is financial protection for bodily injury and/or property damage claims caused by you or someone covered in your household.

As the internet continues to grow, so do the number of cases of Identity Theft. Identity Theft coverage covers the costs associated with getting your identity back to being just YOURS.

Your Home Insurance Policy has a certain amount of coverage built into it for things such as jewelry, fine art, furs and computers. But if you have a huge rock, or the Mona Lisa hanging in your living room, you should make sure to have additional coverage for your specialty items.