The dwelling value in a homeowner's policy is the amount of coverage for the structure of your home itself. This includes the walls, roof, floors, and any attached structures like a garage or deck. It is the amount your insurance company will pay to repair or rebuild your home if it is damaged or destroyed by a covered peril, such as fire, windstorm, or hail.

The dwelling value should be based on the cost to rebuild your home, not its market value or the amount you paid for it. This ensures that you have enough coverage to fully restore your home to its pre-loss condition.

Personal property coverage in a homeowner's policy pays to repair or replace your belongings if they are damaged, destroyed, or stolen. This includes items like furniture, clothing, electronics, and appliances.

Key points:

Coverage Amount: Usually 50-70% of your dwelling coverage. For a $200,000 home, this means $100,000 to $140,000.

Covered Perils: Events like fire, theft, vandalism, and certain water damage.

Replacement Cost vs. Actual Cash Value: Reimbursement can be based on either the cost to replace the item or its depreciated value.

Limits on High-Value Items: Items like jewelry and artwork may have limited coverage unless you buy additional endorsements.

Off-Premises Coverage: Covers personal property even when it's outside your home, such as in your car or when traveling.

Roof settlement in a homeowner's policy refers to how the insurance company determines the amount it will pay for roof damage claims. There are typically two methods:

1. Actual Cash Value (ACV): This method pays the cost to repair or replace the roof, minus depreciation for age and wear and tear. If your roof is 10 years old, the payout will reflect its current value, not the cost of a new roof.

2. Replacement Cost Value (RCV): This method pays the full cost to repair or replace the roof without deducting for depreciation. You receive enough to replace the roof with a new one of similar kind and quality.

Your policy will specify which method is used for roof settlement.