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Dwelling Fire Insurance protects home against the perils specifically named in the policy. Many common causes of damage, such as fire, hail, and lightning, are usually listed as covered “named peril” in a Dwelling Fire Policy. If something other than the named peril causes damage to the home, the policy does not cover the loss. It is important to know that Dwelling Fire Insurance is not broad form coverage, as a HO3 Homeowner Policy. The HO3 is all risk coverage unless specific exclusions are listed.

 Dwelling Fire Policy Forms Two and Three provide coverage on a replacement cost basis in the event of a loss. The DWG – 1 is on an actual cash value basis in the event of a loss. This means that you will be paid for the actual cash value of your home and other structures that are destroyed or damaged due to a covered loss. 


 We will assist you in determining your replacement coverage , which may be quite different from the price you paid for the home. We will use some of the following information to determine the amount of coverage you need for dwelling coverage:

  • Replacement costs estimators supplied by carrier we are quoting
  • Current or most recent appraisal
  • Your square footage vs. purchase price vs. mortgage lender’s requirement figure is used to help formulate coverage required.
  • Whether currently insured limits on existing policy can be reviewed
  • If this is a house, our agents will assist you in contacting your lender regarding insurance requirements for both building and flood.   


 Named Perils : Burglary, Vandalism, Fire, Windstorms, Lightning, Falling Objects, Collision with Vehicles or Aircraft, Hold-Ups, Electrical Malfunction, Broken/Freezing Pipes, Injuries to others on and off property, Damage to other’s property, Gas Leak Explosions, Civil Commotions and Riots




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Gold River Insurance Brokerage is a full-service independent brokerage in Brooklyn, NY.