Sherzer Insurance Blog
A rider, also referred to as endorsement, enables you to add coverage to your standard homeowner’s insurance plan. A rider is essential as each insurance policy comes with its own exclusions or limitation. So, if you have items in your household that are limited or not included on your policy, for example, an artwork, then adding a rider is the ideal option.
How Do You Know If You Need To Add A Rider?
Read and understand your homeowner’s insurance plan and find out what is covered and what is not. This is important when you need to file a claim. Consider adding a rider to your policy if you own fine arts, antiques, jewelry, oriental rugs, and other expensive items.
A rider is also viewed as a mini insurance policy that you add to your existing homeowner’s policy. It provides additional protection to your valuables, particularly if they have low limits or excluded on your insurance policy.
Common Riders or Endorsements
There are various types of riders that you can add to your homeowner’s insurance plan. Some of the most common riders are:
Oriental Rugs. The coverage for your oriental rugs may be limited, depending on your insurance carrier. You should buy a rider for your expensive rugs if you think you may be reimbursed properly in case they get damaged.
Artwork and antiques rider. This type of endorsement is quite affordable. Over time, antiques and artworks tend to be more appreciated. When you own a lot of antiques or fine arts, the wording on your policy becomes crucial.
Jewelry rider. This is an affordable insurance rider, which can protect each piece of jewelry you own. It would be beneficial for you in case your jewelry gets damaged or stolen.
Silverware and furs. Your homeowner’s policy may have special limitations to your silverware and furs. In the event that you need to make a claim, the settlement you receive may not reach the full value of your valuables. Make sure you have them on an insurance rider.
If you lots of expensive belongings in your home and would like to protect them properly, then purchase a rider for them. Ask your homeowner’s insurance agent about your coverage and the limits.
At Sherzer Insurance Agency, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (239) 673-9301 or Click Here to request a free quote.