Home Insurance Riders: 3 Things to Know

Did you know that every home insurance policy is different? Every homeowner can customize their plans to suit their unique needs, and many people add riders to accomplish this goal. If you are unsure about what a rider is, continue reading to learn more.

1. What Is a Rider?

When you purchase a homeowner's insurance policy, it typically provides coverage for three main things: your home, belongings, and liability protection. While these three things cover most losses you might experience, they do not cover everything. To have coverage for everything, you can add riders. Riders provide additional coverage for things that your basic policy excludes. You can add one rider to your policy or many, and you can ask an insurance agent what types you should add.

2. Do You Need Them?

If you are not sure if you need riders, talk to your agent. Your agent can ask you some questions to determine your needs. You only need riders if you want coverage for things that your policy excludes. When you add a rider, you will pay a little extra for it. Most riders do not add a lot of costs to a policy, but the costs can add up.

3. What Are Some Examples of Riders You Can Add?

The first place to start when determining if you need riders is with your personal things. If you own things that are costly to replace, you probably need riders. For example, do you have a collection of any kind? If you do, your basic policy might only provide a small amount of coverage for the collection. If you want to protect the collection's entire value, you will need a rider.

People also add sewer line riders to have protection against problems that arise with their sewer systems. If your sewer line gets a clog in it and causes sewage to spread into your home, your policy would cover the costs if you had a sewer line rider.

You can also add a rider to protect a home business you operate. If you operate a business out of your home, you might need this extra coverage.

Adding riders is common practice with homeowner's insurance. If you have questions about riders or choosing which ones to add to your home insurance policy, contact a home insurance agent today. Remember to consider your budget when choosing riders as well as your location and the types of issues you are likely to experience. 

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