Bolster your homeowners insurance with these policy endorsements.
While your homeowners insurance offers coverage to protect against most perils, this coverage does have its limits. So, what happens if you need to expand your coverage? One way to supplement your existing homeowners insurance is by securing policy endorsements. Here’s what adding homeowners endorsements to your personal insurance in Dallas, Texas, can do for you.
Understanding Your Insurance Exclusions
Before you consider your insurance endorsement options, you need to understand the limits of your coverage. Typically, homeowners insurance policies exclude coverage for the losses related to the following:
- Flood
- Business Equipment
- Earthquakes
- Valuable Personal Property
- Future Assets
- Damage from War
- Pollution
- Nuclear Accident
- Intentional Damage
- Normal Wear and Tear
- Construction Defects
What is a Policy Endorsement?
An insurance endorsement, also known as a rider, adds coverage for perils not automatically included in your policy. With an endorsement, you can extend your coverage to specific losses for an additional premium. Please note that certain perils cannot be covered by an endorsement. For instance, if you want to secure coverage for flood damages, you would need to secure a separate flood insurance policy.
Policy Endorsements to Consider
Here are some of the most popular types of home insurance endorsements that you should consider:
- Earthquake– Pays for repairs to your home and other structures on your property after an earthquake. This endorsement can also cover the cost of bringing your home up to code and other expenses such as debris removal.
- Sewer Backup– Pays for the repairs and remediation efforts your home needs if you suffer water damage due to a sewer backup.
- Scheduled Personal Property– Pays to repair or replace valuable items that exceed the coverage limits of your home policy. For instance, this endorsement can cover things like jewelry, electronics, fine art, etc.
- Home Business Endorsement– Covers your home business equipment, supplies, and legal liability.
This is what you need to know about adding endorsements to your homeowners insurance policy. Do you need further assistance with your personal insurance in Dallas, Texas? If so, then contact the experts at Champion Commercial Insurance. We are ready to get you the coverage that you need today.
