It is very likely that your home is your largest personal investment and, as such, it should have comprehensive insurance coverage. It’s only common sense. But what about the valuables in your home, are they completely covered?
Most policies provide a certain amount of coverage on the belongings in a home, but only up to a certain point. Let’s say your policy offers $50,000 coverage for personal property, but you are lucky enough to have amassed some very precious items that far exceed that figure. What do you do?
The solution is a rider on your homeowners insurance in Glendale, AZ. This is a way to provide extra coverage for property that is worth more than the limits expressed in your policy. Riders, also known as endorsements or floaters, usually provide coverage up to the appraised value of the item once you provide the insurance company with an appraisal by a qualified professional or receipt.
So, the answer to the question of “Do I need a home insurance rider?” is yes, if you have items you wish to insure with additional coverage due to their value. A rider is ideal when you have property such as artwork, jewelry, collectibles, musical instruments, or antiques, for example.
If you have further questions, the team at Henderson Anderson Insurance is happy to answer them for you.