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5 November, 2019 0
red home cutout resting on stacks of coins, insurance endorsements

Why You Need to Secure Home Insurance Endorsements

What are homeowners insurance endorsements?

While you have the right homeowners insurance in Los Angeles, California, your policy does have its limits.  Fortunately, there are things that you can do to extend your coverage.  While you have the option to secure completely separate insurance policies, you can also add specific coverages to your existing home insurance through endorsements.  Here’s what you need to know about homeowners insurance endorsements.

What Does Your Home Insurance Not Cover?

Before you consider your insurance endorsement options, you need to understand the limits of your coverage.  Typically, homeowners insurance policies exclude coverage for the losses related to the following:

  • Flood
  • Business Equipment
  • Earthquakes
  • Valuable Personal Property
  • Future Assets
  • Damage from War
  • Pollution
  • Nuclear Accident
  • Intentional Damage
  • Normal Wear and Tear
  • Construction Defects

How Do Home Endorsements Work?

An insurance endorsement, also known as a rider, adds coverage for perils not automatically included in your policy.  With an endorsement, you can extend your coverage to specific losses for an additional premium.  Please note that certain perils cannot be covered by an endorsement.  For instance, if you want to secure coverage for flood damages, you would need to secure a separate flood insurance policy.

Which Policy Endorsements Should You Consider?

Here are some of the most popular types of insurance endorsements that you should consider getting.

  • Earthquake– Pays for repairs to your home and other structures on your property after an earthquake. This endorsement can also cover the cost of bringing your home up to code and other expenses such as debris removal.
  • Sewer Backup– Pays for the repairs and remediation efforts your home needs if you suffer water damage due to a sewer backup.
  • Scheduled Personal Property– Pays to repair or replace valuable items that exceed the coverage limits of your home policy. For instance, this endorsement can cover things like jewelry, electronics, fine art, etc.
  • Home Business Endorsement– Covers your home business equipment, supplies, and legal liability.
  • Secondary Residence Premises– Adds coverage for your vacation home or another secondary residence.

This is what you need to know about home insurance endorsements.  Do you have further questions about your homeowners insurance in Los Angeles, California?  If so, then contact the experts at Fuller Insurance Agency in Southern California.  We are ready to assist you with all your personal coverage needs today.

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