If you have homeowners insurance, then you may assume that your policy has you covered for everything that comes your way. Unfortunately, all standard home insurance policies are subject to certain limits and coverage exclusions. However, home insurance providers offer their clients the ability to increase their coverage by tacking insurance endorsements onto their home policy. Here are some of the endorsements that you should consider adding.
A sewer backup can cause considerable water damage to your home and can also pose a major health risk to your loved ones. Unfortunately, standard home insurance will not cover the cost of dealing with sewer backup damage. However, by securing a sewer backup policy rider, you can secure coverage for water damage and remediation efforts.
Home Business Endorsement
If you are running a business out of your home, then your insurance will not cover anything related to your business. Rather than securing a totally separate business insurance policy, many home insurers offer the chance to secure a home-based business insurance endorsement to cover your business equipment, supplies, and legal liability.
Scheduled Personal Property
If you have high-value items that cannot be covered by your standard personal property coverage, then you can secure additional coverage by scheduling these specific items on your home policy. This will ensure that high-value items such as jewelry, electronics, fine art, and so on are covered for their full value.
If you insure your home based on your original purchase price, then inflation might make this coverage insufficient in the event of a total loss claim. When you secure an inflation guard endorsement, your coverage increases every year to keep up with inflation, to ensure that your home is adequately protected.
These are some of the homeowners insurance policy endorsements that you should consider securing. Do you have more questions about your home coverage? If so, then contact the experts at Phocus Insurance in Phoenix, Arizona. We are ready to assist you with all your coverage needs today.
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