Did you know that you can customize your homeowner's insurance plan to fit your needs, desires, and goals? Your plan's primary coverage is protection of your home's structure, but this coverage has limits. If you want more coverage and security, you can include add-ons to your policy. Add-ons increase the costs of insurance, but they also provide more protection. Here are several add-ons you might want to include on your homeowner's insurance policy.
Riders for Personal Property
When you buy homeowner's insurance, the agent will ask you about the value of your home and the contents you own. When you purchase home insurance, you receive protection for your personal property, but it will not cover all your things. Most personal property coverage excludes things of high value. For example, if you have a musical instrument collection, your policy might provide $1,000 of coverage for these items. If they are worth $10,000, you will need to add a rider to your policy to protect these items for their actual values. You can add riders for any items you own that exceed the normal coverage limits.
Most homes have underground utility lines in the yards. If you start working in your yard and hit a line, you might be responsible for paying the repair costs. If you do not want to take on this responsibility, you can add coverage for underground lines. Underground line coverage is an add-on that offers benefits and security. If anything happens to these lines, you can file a compensation claim.
Another vital coverage to add is sewer line problems. Every home has a main sewer line, which runs to a city sewer system or septic tank. In either case, your home can experience major damages if this pipe develops a clog or hole. The costs of repairing sewer lines are expensive. If you want to avoid hefty sewer line bills, add sewer line coverage to your policy.
One additional add-on to consider including is inflation guard. Inflation guard protects you against the natural increases in your home's value due to inflation. Each year, your policy increases the structural protection your policy offers, protecting you from inflation.
If you have questions about add-ons with home insurance, talk to an insurance agent today. A local home insurance agent can help you choose the right coverage types and associated amounts for your own insurance policy.