Do You Need Homeowners Insurance Endorsements?

Homeowners Insurance EndorsementsYour homeowners insurance may need additional coverage. 

When disaster strikes your home, your home insurance is supposed to be there to help you pick the pieces! Most of the time, it does. However, every coverage has its limits. Within your property insurance coverage, an endorsement is an amendment to your homeowners insurance, safeguarding your personal belongings and finances. As a proud homeowner, it’s important to take care of all kinds of situations.

Check out the common homeowners insurance endorsements, and what you may need to add to your policy.

Business activities: Generally, home insurance covers only minor losses such as damage or theft of home office equipment. Purchasing separate business insurance is the best way to guarantee proper coverage. Many standard policies only cover $2,500 for business property damage in your home. With a home business endorsement, you can gain more coverage for your business property. Additionally, the liability coverage is higher in case of a client getting injured in your home.

Costly valuables: Your run-of-the-mill homeowners insurance policy may not offer enough coverage to protect your high-valuable belongings from damage or loss. Such items require a separate rider or policy to guarantee full replacement cost. A personal articles floater extends the amount of coverage for your articles, such as furs, fine art, and jewelry. It also covers loss resulting from perils not included in your homeowners policy, such as accidental loss.

Sinkhole coverage: This endorsement covers direct physical loss or damage to the insured property caused by “sudden settlement” or a sinkhole. Many homeowners are surprised to learn that earthquake insurance does not provide such coverage from sinkholes or any damage to land, including large cracks or holes that appear on your property.

Could your homeowners insurance be lacking coverage? For the homeowners insurance policy that you need and deserve, contact the professionals at Kurt Rolf Insurance Agency, serving MN, WI, FL, SD and AZ.