Your home insurance does a lot of cool things. It protects you from different losses, and it serves as a financial safety net. While there are a lot of great things that home insurance does, there are some coverages that you may want to add to your policy as endorsements. (Don’t worry – we’ll explain what an endorsement is in a second.) But what are these home insurance endorsements that you should know about so you can consider whether you should add them to your policy? We’ll go over four.
What is an endorsement?
Okay, but what exactly are home insurance endorsements?
An endorsement is essentially an extra addition to your home insurance policy that alters or adjusts the policy’s coverage, terms, or conditions in some way. That’s all it is – nothing scary! It’s just a way that you can add certain coverages to your policy if you need to.
4 home insurance endorsements you should know about.
There are a few home insurance endorsements that you should know about. You might want to consider adding these coverages to your policy.
1. Scheduled personal property.
Adding a scheduled personal property endorsement to your policy means that you’re listing specific items that you want more protection for. For example, you might want to have more protection for jewelry or other valuables. Home insurance often only offers limited protection for valuables, so you might want to use an endorsement to add coverage. A scheduled personal property endorsement can help provide extra coverage, but it could also protect your valuables from more risks.
It’s really important to make sure that you have the coverage you need for all of your treasures, like your jewelry and other valuables. (And it’s important to read all the details of your coverage so you know what losses are and aren’t covered and how much coverage you have.)
Pro tip: Read your home insurance policy carefully to see what coverage it offers for valuables. You may need to add coverage.
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2. Sewer backup.
Sewer backup is often excluded from home insurance policies. It’s just one of those things that’s usually not covered – unless you add a sewer backup endorsement to your policy.
This endorsement can help you if you have water or waterborne materials back up through a sewer or drain. It can also help cover water or waterborne material that backs up through a sump, even if the backup was caused by mechanical failure of the sump. (It can cover personal property that was damaged, but it won’t cover the sump pump itself.)
Anyways, this home insurance endorsement can help you out if you ever experience the unpleasantness of a sewer backup issue. It’s worth considering adding it to your policy.
3. Earthquake coverage.
Earthquakes can be extremely destructive. If your house is rocked by a quake, it could sustain some real damage.
The thing is that earthquakes and earth movement are often excluded from home insurance policies. However, you may be able to add coverage for earthquakes through a home insurance endorsement. Adding an earthquake endorsement can help you protect your home if the earth starts shaking. It can help cover your “other structures” too, and it can even help you cover your personal belongings if there’s an earthquake. Make sure you read the endorsement carefully and understand the deductible that would apply if there was ever an earthquake and you had to file a claim. And don’t be afraid to ask questions about the coverage if you have any – questions are great!
Once again, it’s important to make sure you have the coverage you need for your home. Don’t forget to think about earthquakes when you consider what coverage you want for your home.
4. Identity theft.
Identity theft is a terrifying possibility. It’s a threat that doesn’t quite seem visible or tangible, but it can happen. However, you may be able to get a home insurance endorsement to help cover a situation in which someone steals sensitive personal information to pretend to be you. The identity theft endorsement can help you cover expenses that arise because someone has stolen your identity. If identity theft is something you’re concerned about, it’s not a bad idea to consider this endorsement. You could be very much caught off guard if someone steals your identity, but at least with this coverage, you wouldn’t be on your own to deal with the financial fallout.
Those are four home insurance endorsements that you can consider adding to your home insurance policy. While home insurance protects you from a lot, there are some places where you may need to add coverage. And if you’re looking for home insurance, you can get started with your home insurance quotes by filling out our online form, messaging us on LiveChat, or giving us a call.