Did you know that a typical home insurance policy does not cover everything you own or every peril that might destroy your property? Most homeowner's insurance policies cover the big things you own and the common perils you might encounter, but they do not cover everything. You can always add coverage to your plan, though, to have coverage for all types of perils and for everything you own. Here are some tips to help you achieve this goal when buying home insurance.
Ask What the Policy Includes
The first thing you may want to do is to ask the insurance agent what the policy includes. In other words, what does it cover? A typical policy provides coverage for the home's structure and most of its contents. It may cover naturally occurring problems such as fire, wind, or storm damage, but it might not cover other perils. When you ask what issues it covers, you can learn more about the risks you have if you purchase this policy without adding any additional coverage.
Add Coverage for Other Perils
Once you learn more about what your policy covers, you can decide what other types of coverage to add. For example, most home insurance policies exclude coverage for flood damage. If this is the case with your policy, you can purchase a flood insurance policy from an insurance agency. The company you purchase your home insurance from might not offer it, but other companies will. If you want coverage for earthquakes, you can also buy a plan that offers this protection.
Add Riders for Things It Does Not Cover
The final thing you can do is to add riders for things your policy does not cover. For example, suppose you have a jewelry collection that is worth $100,000. Your home insurance policy might offer some coverage for it, but it will not cover all of it. If you want to cover all of it, you can purchase a rider with your plan that covers every aspect of it. You must pay extra for this rider, but it will cover the entire $100,000 jewelry collection. You can add individual riders to protect any other assets you might own that your regular policy excludes.
When you add the right coverage types to your plan, you can have all the protection you need. If you have questions about home insurance and what it covers, talk to a homeowner's insurance agent today.