Basic homeowner’s policies offer coverage for a multitude of losses. However, they don’t cover everything, and in some cases, you might need more. If you require coverage for certain losses that are not covered in your basic policy, you may need to purchase what is called a “rider,” also known as a “floater” or an “endorsement.” The rider will cover you for losses that are not included in your basic policy.

Circumstances in Which You Need a Rider

Insuring the Contents of Your Home: You’re Personal Property

Every basic policy offers some coverage for your personal property, but there are limits that must be taken into consideration. Some of your property may be listed as covered, but in reality, the coverage only extends to a portion of the true value of the items. Some of these items include fine jewelry, antiques, fine artwork, and collectibles. In order to cover the full value of these types of items, a rider might be required.

Your Electronics: Know what is covered and what is not

Again, most basic homeowner’s policies will cover you for electronic equipment, but the coverage is limited and will probably not meet the cash value of the items. If you own a great deal of electronics (home entertainment systems, multiple computers) you will probably need to consider additional coverage in the form of a rider.

Do You Own a Home Business? You Are Not as Protected As You May Think

Many homeowners use their home as a place of business. They may think that their homeowner’s policy covers their business property and offers them liability protection, but in reality, coverage under home insurance policies for the operation of a business on the premises is very limited. In addition to your homeowners policy, you will need a home-business rider to cover your business equipment and to protect yourself from liability should a customer become injured while in your home.

Income-generating Property and Second Residences: Do I Need Separate Policies?

If you own a second home that is used to provide income through rental or is used by you and your family as a second residence, you may be able to avoid buying a separate home insurance policy for that property through the addition of a rider. This could go a long way towards saving you money, since a rider is less expensive than a separate policy.

Damage from Sewage and Blocked Drains: Do I Need a Rider?

You’ll need to find out how much is covered in terms of loss should your home incur damage from sewage or backed-up drains. Your policy may not cover this type of damage at all, in which case you will definitely need to purchase a rider to protect yourself in the event of this type of loss.

Burglary

Be sure to inform yourself as to what exactly is covered under your homeowner’s policy in terms of theft. Most basic policies will cover your personal property to some extent, but the coverage may be limited and may exclude certain types of items. Find out if you require a rider to provide the coverage you need for the contents of your home.

Let ColumbiaHomeInsuranceQuotes.org put you on the road to finding out what types of riders you might need by providing you with no-cost Columbia home insurance quotes.