THURSDAY, DECEMBER 1, 2022
Standard homeowners insurance coverage can provide a broad range of coverage, including property damage repairs and replacements and personal liability coverage. But it won’t cover you from every possible risk. That’s where add-ons, also known as endorsements or riders, come in. Add-ons allow you to make changes or additions to your homeowners insurance policy to ensure sufficient protection for your needs.
We’re here to help. Contact RCS Insurance in Reno, Nevada, to learn how our homeowners insurance add-ons can protect your home.
What Are Homeowners Insurance Add-Ons?
Home insurance add-ons can provide additional coverage for risks not covered in your standard homeowners insurance policy. They can provide you with a means to fill in the coverage gaps left by your existing policies. Add-ons can also increase the coverage limits for existing items, such as expensive jewelry and fine arts, for which a standard home insurance policy will provide limited coverage.
What Can Homeowners Insurance Add-Ons Cover?
The add-ons that are available to you will vary with your insurance company. Here are some common add-ons which you may be able to purchase:
- Swimming pool coverage can protect you from medical expenses related to bodily injuries that arise from your swimming pool or pool accessories (e.g., water slide, pool floaties).
- Buried utility coverage may protect you from damage to underground utility lines (e.g., sewage, water, gas), causing it to leak, break or tear from a covered peril.
- Water backup coverage can pay for repairs or replacements to your property or personal possessions if water from backed-up drains, sump pumps or sewage systems results in their damage or destruction.
- Equipment breakdown coverage may pay to replace or repair home appliances (e.g., boiler, washer and dryer, refrigerator) if they break due to a mechanical or electrical failure.
- Extended replacement value cost can increase the amount your insurance company will pay to repair or replace your home if a covered peril damages it.
- Scheduled personal property coverage can extend the coverage on certain types of personal property (e.g., electronics, jewelry) to increase your payout limits.
- Home business coverage can increase your business property coverage and extend your coverage limits to protect work-related devices from damage or theft.
In some states, add-ons will be automatically added to your homeowners insurance policy to provide additional coverage. The following are examples of automatic add-ons and the states they apply to as of Nov. 28, 2022:
- Oil tank coverage (MA)
- Liquid Fuel Oil & Lead Liability (CT, NJ, MA, RI)
- Mine Subsidence (IL, IN, OH)
- Sinkhole (TN)
Contact RCS Insurance today for more information on the add-on coverages available to you.
Finding the Right Coverage
At RCS Insurance we understand the importance of finding the right coverage for your home. Contact us today to learn more about our home insurance options and the add-ons we offer.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.
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