Bump up your homeowners insurance coverage with the right policy endorsements.
While you might not want to think about it, your homeowners insurance is subject to certain coverage limits and exclusions. This means that you are exposed to various risks. Fortunately, you can address the gaps in your home insurance coverage with the right policy endorsements. Here’s what you need to know about this form of supplemental coverage.
Understanding Your Insurance Exclusions
Before you consider your insurance endorsement options, you need to understand the limits of your coverage. Typically, homeowners insurance policies exclude coverage for the losses related to the following:
- Business Equipment
- Valuable Personal Property
- Future Assets
- Damage from War
- Nuclear Accident
- Intentional Damage
- Normal Wear and Tear
- Construction Defects
What is a Policy Endorsement?
An insurance endorsement, also known as a rider, adds coverage for perils not automatically included in your policy. With an endorsement, you can extend your coverage to specific losses for an additional premium. Please note that certain perils cannot be covered by an endorsement. For instance, if you want to secure coverage for flood damages, you would need to secure a separate flood insurance policy.
Policy Endorsements to Consider
Here are some of the most popular types of insurance endorsements that you should consider getting.
- Sewer Backup– Pays for the repairs and remediation efforts your home needs if you suffer water damage due to a sewer backup.
- Scheduled Personal Property– Pays to repair or replace valuable items that exceed the coverage limits of your home policy. For instance, this endorsement can cover things like jewelry, electronics, fine art, etc.
- Home Business Endorsement– Covers your home business equipment, supplies, and legal liability.
- Secondary Residence Premises– Adds coverage for your vacation home or another secondary residence.
- Personal Injury Endorsement– Increases your home insurance coverage to cover things like false arrest, wrongful eviction, slander, defamation, and advertising liability.
This is what you need to know about home insurance endorsements. Are you looking for assistance with your homeowners insurance coverage? If so, then contact the experts at East End Insurance Agency. Our dedicated team is eager to assist you with all your coverage needs today.