Homeowners insurance is designed to protect your home and personal belongings from damage and theft due to natural disasters, fire, and a variety of other unforeseen circumstances that may arise. Although home insurance is indeed beneficial, the majority of policies will limit coverage. The good news is that there are insurance riders that can offer Monroe, CT residents supplemental protection for when their standard home insurance policy won’t cover a situation. Contact us at Fida Insurance Group to add any of the below riders to your home insurance policy.
Personal Property Rider
Although you can be reimbursed by your insurance company when your personal property is damaged or stolen, there are exceptions to the rule. For instance, you are likely only to receive reimbursement up to a certain amount for firearms, jewelry, collectibles, and other valuables. Depending on the value of your personal belongings, the amount you receive could be considerably less than the true actual value of these items. With a personal property rider, you will have additional coverage, allowing you to be compensated for their full value.
Home Business Rider
It is not uncommon for people to run a business out of their home. This is extremely convenient, but it can also create a number of complications for your home insurance. More than likely, your insurance will not cover any equipment or inventory that is damaged or lost if your home is broken into. The same is true if a customer suffers an injury on your property. To ensure you are fully protected, a home business rider is a wise investment.
Water Damage Rider
Your home insurance will cover certain types of water damage, such as overflowing appliances and burst plumbing pipes. However, if there is water damage that occurs inside of your home from an outside source, such as a sewer backup or flooding, it is unlikely that your homeowners insurance will cover the damage—and these costs can be exorbitant. Therefore, with a water damage or flooding rider, you can ensure that you have the proper coverage in the event of external water damage.
If you aren’t sure what riders you need for your Monroe, CT home, connect with us at Fida Insurance Group and we will help determine the best coverage for your home and situation.