3 Endorsements To Add To Your Home Insurance Policy
Posted on: 13 January 2020
Your homeowners insurance policy is something that protects you against perils that could damage your home, but if you do not have the right endorsements on your policy, there might be areas that are not covered. Adding endorsements is a way to add the right protections you need, and here are three that you might want to have with your homeowner's insurance policy.
Sewer line coverage
Have you ever experienced a problem with your home's main sewer line? If not, you probably do not understand the full impact of what this type of problem can look like and be like. A sewer line issue can leave your house stinky and contaminated, and the costs to fix a repair like this can be extremely high. If you have sewer line coverage, you would at least have a way to receive compensation for the expenses you would have to pay for if you had a sewer line problem. A traditional home policy does not generally include coverage for this, though, but you can get coverage by adding an endorsement for sewer line coverage.
Personal property coverage
Secondly, you might want to add personal property coverage to your policy, and this does not mean just the standard coverage. It means adding endorsements for things you own that would not be fully covered with your insurance policy. An example of this is an expensive collector guitar your grandfather gave you. If this instrument is worth $5,000, you would need an endorsement on your policy to cover it for this value. Without an endorsement, your insurance company might only cover it for $100. You should add a separate endorsement for each item you own that is valuable.
Inflation guard
The other type of endorsement you might want to research is called inflation guard, and this is available through many different insurance companies. Inflation guard simply increases the coverage you have each year to keep up with inflation. If you ever experienced a total loss with your home, you would want to have this coverage. With it, you would have enough coverage to replace the home, because the policy would automatically increase in coverage amount each year as needed.
Endorsements provide coverage in areas that your normal policy does not give you coverage, and there are a lot of different types you can choose from. Talk to a homeowner's insurance agent to learn more about these types or others.
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