Common Homeowners Endorsements To Broaden Your Coverage

Home insurance policies are typically quite broad to apply to as many customers as possible. So, it’s not uncommon for homeowners with unique needs for their home to require additional coverage. These additional policies are known as homeowners endorsements, and they can be valuable tools to ensure that you have the type of coverage you need.

There are many different types of homeowners endorsements to choose from, but some of the most common ones that you may want to consider for your home are listed below.

Home business endorsement: As people begin the transition to work out of their homes, it’s important to consider getting business insurance, as standard homeowners policies won’t cover business equipment or legal liability associated with the business and its respective assets.

Inflation guard endorsement: Inflation is an important financial reality you must consider when planning for coverage and future budgeting. Inflation guard endorsements automatically increase your insurance cost by a relevant percentage each year, keeping up with inflation trends.

Earthquake endorsement: Based on your location in the United States, individuals living in high-risk areas have the option to add on a homeowners insurance endorsement. In the event of an earthquake, this feature will cover the costs of repairing the home and other damaged structures.

Sewer backup endorsement: Having a sewer backup is not only discomforting, but it can be dangerous to a resident’s health and quite costly. Adding a homeowners endorsement to cover sewer backups and its associated water damage is a relatively inexpensive add-on.

Watercraft endorsement: Homeowners endorsements can even expand to cover property purchased resides at a household. For example, a watercraft endorsement will add coverage for a boat you own and also protect it against damages during boating and while docked, even if it’s docked at another location. These policies can include motorcycles and boats, so contacting your home insurance provider will highlight precisely what endorsements you can add.

These five homeowners insurance endorsements are just a sample of the many policies available with your homeowners insurance policy. If you’re interested in any of these specific endorsements, or if you want to explore additional endorsements, contact us today. Schechner Lifson is an independent insurance agency with experienced and caring agents who can make sure you get the right coverage at a price that may just be more affordable than you think.