3 Coverages To Add To Your Home Insurance To Fully Protect Yourself
Did you know that every homeowner's insurance policy is unique and different from all others? This occurs because every homeowner has different needs with insurance and every house is different. When you are purchasing homeowner's insurance, you should make sure you know what your policy will cover and what it will not cover, and then you should make sure you add the right coverages to it to fully protect yourself. As you do this, you may want to consider adding the following three types of insurance coverage to your home insurance policy.
If you are not sure if you have additional living expense (ALE) coverage or not, ask your agent, as this is a form of coverage you should not go without it. Some standard home insurance policies automatically include this form of coverage, but others do not. If you do not have it, you can typically add it to your policy for extra coverage. ALE compensates you for extra costs you would incur if you were forced to evacuate your home for a temporary period of time due to a fire or other type of damage to your house.
Secondly, you should talk to your agent about sewer backup coverage. This too might be a coverage that comes with your policy, but it generally is not a standard form of coverage with most home insurance policies. If you do not have this coverage, you should ask how much it would be to add it. The good news is that it probably would not cost a lot to add this coverage, but the coverage would be very important to have if you ever went through a sewer backup at your house.
Endorsements for extra things
The other extra you should discuss with your agent is adding endorsements for personal possessions that are not fully covered with your regular policy. For example, if you own a diamond ring that is worth $10,000, your basic policy would not compensate you for the full $10,000 if the ring was stolen or damaged. Instead, you might only receive a few hundred dollars for it, but you can add an endorsement to the policy to make sure you get the full value if anything happens to this ring.
You do not have to add extra coverages like these types to your policy, but it is often a good idea to add them. To learn more about any of these forms of coverage or other types, talk to a homeowner's insurance agent.