Do You Need Endorsements in Your Home Insurance?

Does your home need additional protection?

When disaster strikes your home, insurance is supposed to be there to help you pick the pieces. Most of the time, it does, although, every coverage has its limits. When it comes to property coverage, an endorsement is an amendment to your homeowners insurance, safeguarding your personal belongings and finances.

What is an insurance endorsement? Endorsements, sometimes called riders, allow you to raise the overall limit for certain categories of items. In short, you buy additional coverage and protection, and your insurer will reimburse you up to those raised limits.

Flood coverage: The most important exclusion in most homeowners insurance policies is flood coverage, as many people have learned to their great misfortune. If you live in a flood-prone area, don’t risk going without flood insurance.

Earthquake insurance: Many standard policies do not cover the catastrophic damage that can be caused by an earthquake. Coverage for such events must be added on to your policy so that you have reliable coverage to protect you in case your home suffers from earthquake damage. Whether you live near a fault line or not, this is reliable, inexpensive insurance worth having.

Business activities: Typically, home insurance covers only minor losses such as damage or theft of home office equipment. Purchasing separate business insurance is the best way to guarantee proper coverage. Many standard policies only offer $2,500 for business property damage in your home. With a home business endorsement, you can receive up to $70,000 worth of coverage for your business property. Additionally, there is higher liability coverage in case a client is injured in your home.

Jewelry, furs, and high-valuables: Your standard homeowners insurance policy may not offer enough coverage to protect your high-valuable belongings from loss, due to loss ceilings on specific items such as Jewelry, Firearms, Furs, Artwork, Musical Instruments, and Collectables . These items require a separate rider or policy to guarantee full replacement cost. A personal articles floater extends the amount of coverage for your items, such as furs, fine art, and jewelry. It also covers loss resulting from perils not included in your homeowners policy, such as accidental loss.

Does your homeowners insurance need endorsements to cover your belongings and property? Talk to the professionals to understand your policy and find out where it may be lacking. Visit Lou Aggetta Insurance Services to get started today.