Can someone please ELI5 what Coverage A Plus actually means/covers for home owners insurance?
Farmers set a limit for dwelling.
According to my research, it would cost a lot more than what they set it to.
Every time I talk to them I get a difference answer. Some say that Coverage A Plus means they'll cover whatever it costs to rebuild, even if it's more than the limit. Some say it will only cover 125% of what the limit is.
Here are some example numbers to help explain what I see on my coverage:
- Blanket Property Limit: $1,000,000
- Dwelling: $400,000
- Private Structures: $300,000
- Personal Property: $200,000
I am worried I do not have enough coverage. But Farmers sets the limits themselves and I can't increase it.