Home Insurance Riders Explained

Carrollton Home Insurance Riders

Many homeowners wrongly assume that they receive adequate protection under their standard homeowners’ insurance policy. Contrary to popular belief, your homeowners’ insurance policy will only provide you with limited protection. Many homeowners fail to take advantage of home insurance riders, which act as additional protection to your standard home insurance policy. Gathered is a list of common situations and conditions that would benefit from the protection a home insurance rider provides:

  • Many homeowners fail to realize that their personal property coverage is very limited. If you have any items of particular value or importance to you, you may benefit from getting a rider to your homeowners’ insurance policy, and scheduling your valuables. These items may include your firearms, jewelry, collectibles, antiques, fine art, etc.
  • If you have any electronic equipment that is of particular value, you would benefit from receiving additional protection under a rider to your homeowners’ insurance policy. A rider would enhance the coverage to all risk for accidental breakage and also eliminate the deductible usually charged for a homeowner claim.
  • Despite common belief, you cannot receive adequate protection for your home-based business through your standard homeowners’ insurance policy. You will receive a very limited amount of coverage without a rider to your homeowners’ insurance policy. If your home-based business involves clients visiting your home office, you must obtain a separate business insurance policy.
  • No insurance companies will provide you with coverage for your secondary residence or income property through a rider. You will need a separate policy for either of these property types.
  • Check to see if sewer and drain back-up coverage is excluded under your standard homeowners’ insurance policy. If it is, you would benefit from safeguarding your financial assets with an insurance rider.

Contact Mike Leonard Insurance Agency in Carrollton for all of your Texas homeowners’ insurance needs. Home insurance riders can be a confusing topic unless explained by an experienced professional. Allow us to clear up any misunderstandings and provide you with an affordable policy that maximizes coverage.