Two Important Forms Of Coverage To Include In Your Home Insurance Policy

Posted on: 15 January 2016

When you're purchasing your home insurance plan, you may mistakenly believe that it provides blanket coverage for any damage that occurs to your house.  However, home insurance policies have relatively strict inclusions and exclusions, and it's important for you to add on the additional forms of coverage that can make your policy more comprehensive.  Use this information to learn more about two insurance riders that you should get with your homeowner's policy.

Be Sure To Obtain Flood Insurance

It would seem that floods would be considered an act of nature by insurance companies, and that any damages that occur because of a flood would be covered.  But this is not the case.  You're going to have to purchase a separate policy in order to get coverage for flood damages.

If the private insurer that you're purchasing your homeowner's policy from doesn't offer flood insurance, you can get it from The National Flood Insurance Program.  You'll have coverage for both the structure of your house, as well as your property.  

You may believe that you don't need this coverage if you live inland, or in a locale that doesn't receive much rain.  However, keep in mind that flooding can happen due to melting snow, or even if a creek swells up so much that it overflows.  Don't wait until one of these events happen before getting your policy, because there is usually a 30 day waiting period before the benefits take effect.

Include Coverage For Your Fine Jewelry

Another portion of your policy that you'll want to go over with a fine-toothed comb involves the personal property limits.  If you have fine jewelry or family heirlooms, you will most likely need to add a rider to your policy that lifts the limits so that they are high enough to cover the cost of your property.

For example, if you have a ring that is valued at $20,000 dollars, yet only have $10,000 dollars in personal property coverage, you won't be adequately compensated. In addition, you want to make sure that your valuables are accounted for in the rider so that there won't be any discrepancy if you happen to file a claim for theft.

Getting the right kinds of coverage in your home insurance policy helps to increase your peace of mind.  Get flood and fine jewelry protection so you can be covered when you need it most. For more information, talk to a professional like Acumen Insurance Group Inc insurance brokers.