Consider these home insurance riders to better protect your property.
Homeowners insurance is designed to protect your property and belongings. For the most part, it does. However, there are some cases in which your home insurance falls down and you’re left with a gap in coverage. To remedy that, there are home insurance endorsements, sometimes called riders. These are add-on coverages to your home policy that allow you to better protect your pocket. Take a look at just a few coverages you should consider.
- Replacement cost on personal property
Just bought a nice, new, flat screen tv? If anything happens to you, you will only be reimbursed for the depreciated value. With replacement cost coverage, you’ll be reimbursed for like-value items, which is a better safety net for your belongings.
- Scheduled personal property
Although your home insurance protects your belongings, it does have a limit to coverage. Some homeowners find that this is not enough coverage to safeguard their high-value items. If you have expensive pieces such as art, jewelry, collections, musical instruments, golfing equipment, or otherwise, consider securing this coverage.
- Water backup
Water backup is not included in standard home insurance policies, so any damage caused by a sump pump, sump, or any relevant equipment will not be covered. Such a disaster can cause ruin to your belongings and property. Without this endorsement, you’ll be responsible for the cost of cleanup and repair.
Home insurance endorsements add coverage not included in your standard policy. To acquire the protection you need, contact the team at Jack Stone Insurance Agency. We can help you find the right cover and endorsements to suit your property.