I'm curious about the claims process. I've become more educated on my own homeowners insurance policies, understanding components like external buildings, personal property, and loss of use. Is there a standard percentage people choose for loss of use and personal property, like 30% of the dwelling? Do people usually opt for something lower because they don't expect anything to happen?

Typically, if you set the dwelling limit, about 70% might be for personal property. For example, with a $500,000 dwelling limit, $350,000 would be for personal property. Other structures might be 20%, around $100,000, and loss of use could range from 20% to 50%. This is the additional living expense component if someone can't live in their home. So, there is a set calculation for these additional limits beyond the dwelling.