Whether you plan to purchase a sprawling mansion or a quaint cottage in the countryside, there is no doubt about it: A house is a major investment. If you've always rented the places where you lived you may not realize some of the benefits that you have been missing out on. You are now able to paint the walls to your heart's content and do any number of renovations to make the property come alive. However, along with the privileges, there are now some extra responsibilities on your plate as well. One of the best ways to protect yourself and add a little buffer against some of the costs that may come up is to get a homeowner's insurance policy. Listed below are a few key points that you might want to consider when you are choosing your plan.
Endorsements May Be Necessary
Homeowner's policies generally fall into a couple of categories. You can go with the standardized policy that covers stated items across the board. Or, you might choose a customizable policy that has more allowances. If you own a lot of big-ticket items or have some standout features on the property that you want to protect, it might be better for you to go with the latter option.
You can turn a standard policy into a customized version by adding endorsements. Endorsements, also known as riders, are basically changes that you make to the insurance plan so that more coverages are allowed. There are a number of riders that you can get, including the following:
- A Jewelry Rider: Your policy will likely already have a stated limit for any jewelry that is lost, stolen, or damaged. If you own heirloom pieces or want to protect sacred jewelry, such as wedding rings or pendants, you might want to increase the coverage amount with a rider.
- An Antique Furniture Rider: If you own costly Oriental rugs, stately sofas, dining room tables, or headboards, adding an antique furniture rider can come in handy in case there is a fire or some other disaster that causes monetary damages which fall outside of your budget.
Loss-Of-Use Coverage Is Very Valuable
If a covered event happens and you aren't able to stay at your house for an extended period of time, you'll be glad that you opted for loss-of-use coverage. You can use the funds to pay for alternate living quarters while you have the damages taken care of.
Homeowner's insurance lets you protect yourself and your beloved house. Add all of the right components for comprehensive coverage that gets the job done. For more information about home insurance, reach out to a local insurance company like Oliveira Insurance Agency.