A standard home policy sets limits for the payout of certain items. Thus, if you have too many jewelry at home, getting Scheduled Personal Property is a good idea. Doing so will allow you to have coverage for each item, rather than relying on your standard home policy.
Alternative Home Living Arrangements
When it comes to home insurance, most people would think coverage for their actual home. But how about when your home is deemed inhabitable during re-construction? Well, most policies would cover the expenses of staying in an alternative home while you’re actual home is being rebuilt due to a covered event.
The “Loss of Use” coverage compensates for the additional living expenses. It may also cover food and lodging.
Identity theft happens anytime to anyone. Some insurers offer Identity Recovery coverage with most home policies. It provides the necessary tools that will help you gain back your stolen identity. Although you should still maintain personal firewalls and anti-virus software, this coverage can give you a peace of mind in case these measures fail.
You wouldn’t want to see your house burned due to faulty electrical wiring, right? Also, if you’re planning to rebuild it, the city government may require you to install a new electrical system as building codes change throughout the years.
Your insurer may offer a separate coverage for Ordinance or Law coverage that helps with the expenses in upgrading your home’s electrical system. Why is this coverage necessary, you might ask? Bear in mind that your standard home policy covers only the repair or replacement costs, and not the upgrades.
Insurers may offer optional Equipment Breakdown coverage in addition to your standard home policy. This coverage kicks in when a home appliance, like the refrigerator, experiences breakdown – covering its repair and replacement costs. Aside from that, you may also get coverage for energy efficiency upgrades and spoiled food. This additional coverage is a good alternative to extended warranties on certain appliances.
Your homeowners insurance policy can provide coverage for a lot of things if you know what policies to add. Make sure you’re fully protected, read and understand your policy.
Here at We Insure, we will help protect your largest investment through proper home insurance coverage. Our agents will help walk you through your policy and are willing to give you professional advice about the coverage you may need. Call us at (954) 431-9423 or visit us today. Get quoted for free by clicking here.