When
shopping for a home insurance policy, it is important that you choose the coverage
that best fits your lifestyle. Homeowners insurance is designed to protect you
from things like disasters, damages, liabilities, and stolen items. As you
start searching for the right homeowners insurance policy for your needs, you
may also want to consider common insurance add-ons that can keep your home
secure and provide more complete coverage than your standard insurance.
Below are 5 home insurance add-ons to consider:
Sewer and Drain Backup
Sewer
and drain backup
are not covered in most standard homeowners insurance policies. Certain
problems that may occur are:
- Clogging in your main sewer line
- Breaking or collapsing lines due to age and decay
- Blockages and holes forming in sewer pipelines due to tree root growth
Sewer
and drain backups may not happen quite often, but when they do, having service line coverage will save you
from a lot of work. Speak with your insurance agent about sewer and drain
backup to determine if this add-on is necessary for your home.
Guaranteed Replacement Cost
Guaranteed
replacement cost is a home insurance add-on that ensures your policy will cover
the entire cost of replacing your home, even if the cost exceeds the policy
limit.
For example: if your house gets damaged or destroyed, the insurer will
spend however much it takes to replace your home. There are no depreciated
costs, and this investment will fully replace your home, even if the policy
limit is exceeded.
Flood Insurance Coverage
In
most cases, a homeowners insurance policy will not include flood
insurance coverage.
You
don't necessarily need to live in a flood-prone environment to purchase this
add-on. Floods can happen unexpectedly from unpredicted events such as heavy rainstorms.
Work with your insurance agent
to decide if flood
insurance is a necessary add-on for your home insurance policy.
Valued Possession Coverage
Another
common homeowners insurance add-on is valued possession coverage. This extra
protection will save you from stress if your valued items are damaged,
destroyed, or stolen.
Items that are often insured by valued
possession coverage include:
- Jewelry, especially wedding rings
- Electronic devices such as smartphones, computers and cameras
- Tools and equipment
- Musical instruments
- Recreational items
If you believe this home insurance add-on may be right for you,
take inventory
of your valued possessions and discuss next steps with your insurance agent.
Umbrella Coverage
Umbrella insurance is a liability insurance add-on that protects you from major claims and lawsuits, as well as providing underlying coverage. Umbrella coverage may also extend your coverage to other vehicles and properties.The
protection provided by umbrella coverage includes:
- Up to $1,000,000 additional coverage beyond personal liability insurance that you ordinarily carry
- Protection for you and your family by making payments of judgment against you resulting from personal activities
- Coverage for your automobile and watercrafts worldwide
- Coverage of legal defense costs, in addition to indemnity, in many areas where there is no underlying coverage
Having
umbrella
insurance will expand your coverage and will give you added peace of mind
everywhere you go, even outside of your home.
These five popular add-ons will help to keep yourself, your home and personal
items secure. When choosing your homeowners insurance coverage and add-ons,
remember to consult your insurance agent to make sure you have the appropriate
coverage for your home, belongings and lifestyle.
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