Riders to Consider Adding to Your Home Insurance Plan

Sherri Ramos

A home insurance policy can protect you against losses to your home and belongings, but is a standard policy enough? For some people, it might be enough. For others, though, adding riders is necessary. A rider is an add-on you can include with your home insurance plan, and each rider you choose adds coverage for one specific thing. Here are some riders you might want to consider adding to your home insurance policy to have enough protection.

Personal Property Riders

Your home insurance plan will include personal property coverage, but it might not cover all your things. Most personal property insurance coverages only cover the basic things you own. It does not cover the valuable items that you have. For example, if you own a fur coat collection, your basic policy will not cover it. Your basic policy will not cover valuable jewelry, artwork, or anything else that you might own that is highly valuable. Therefore, you can add riders for each of these items. If you have only one type of expensive asset, you might need just one rider. If you have many valuable items, you will need a rider for each category of item.

Identity Theft

Did you know that you can also add a rider for identity theft to your home insurance policy? Many people do not know about this rider, yet it is available through many insurance companies. If your identity is compromised, it can lead to financial issues and other problems. If this happens, you could lose a lot of money, which is why you might want to add a rider for identity theft. If someone steals your identity and you suffer harm from it, you can file a compensation claim.

Inflation Guard

Some insurance companies sell riders for inflation. With an inflation guard rider, you pay a small premium each year to protect your home from inflation. Your policy coverage amount increases each year to protect you against inflation when you add this rider to your plan.

Sewer Coverage

One more rider that you might want to add is for sewer coverage. When the main sewer line in a home clogs or breaks, it can destroy a house. If you ever experience this issue, it can cost thousands of dollars to fix. With a sewer coverage rider, you can have the protection you need if something happens to your sewer line.

If you want to add riders to your plan or purchase a home insurance policy, contact an agent today.