How to Add Riders to Your Home Policy

Here at Peter Laczko Insurance Inc. in Woodstock, GA, we’re first to admit that homeowners’ insurance isn’t a simple matter. We want it to be though. We’re here to answer your questions. One question we hear often is “why would I need a rider to my policy and what exactly is a rider?”

The term rider refers to an addition to a policy that adds a higher level of coverage for one item or category of item. An endorsement and rider refer to the same thing. You can add it to a condo, home, mobile home or renter’s insurance.

One common limitation or exclusion – jewelry – probably tops the list of popular riders. Most home insurance caps your jewelry losses around $2,000 or 10 percent of the policy value. That may not even cover your wedding band set, so you’d add a jewelry rider to cover the rest.

Policies cover an average household. That’s how it got the name standard policy. You customize it for your needs by adding riders.

Besides jewelry, households also commonly choose to add riders for hobby items, antiques, Oriental rugs, stereo, and high-end TV equipment, fine art, and home office equipment.

If your standard policy as written covers everything you need, no problem. You need to do nothing, but sit back and enjoy the safety it provides. If you have other items to protect, add one or more riders.

That’s right. You can add more than one, so you can protect all of your personal property. You can add them for nearly any item that the standard policy excludes or that has low limits.

Let’s go over your policy together to determine what items might require riders in your home. Contact Peter Laczko Insurance Inc serving Woodstock, GA today.

Does Commercial Insurance Cover Damage Caused by Natural Disasters?

You work hard every day to manage your business and keep it afloat. You protect it to the best of your ability believing that you have your bases covered. Then, nature strikes and you are devastated to find that you were wrong. Too late you discover that you do not have the necessary coverage for natural disasters, and you are stuck wondering what to do now.

Unfortunately, about half of small businesses hit with a natural disaster do not bounce back, leaving a dream to go down the drain. Here at Peter Laczko Insurance Inc., we do not want to see our friends in Woodstock, GA fail, so we want to help you understand commercial insurance and what you can expect it to cover. All businesses are different to some degree: they have different products, services, equipment, property, and more.

Commercial policies are as unique as the businesses they cover. There is really no one-size-fits-all answer, so we will start with some general information. A typical commercial policy covers the owners and employees. It also covers the property from damage due to crime, falling objects, lightning, wind, some storm activity, and fire.

Most basic policies do not cover acts of nature, though a wildfire will likely be covered. Damage caused by floods, earthquakes, hurricanes, and tornados are usually only covered if additional coverage is added to the original policy. 

If you currently have commercial insurance, take a look at your policy to know your exact coverage. For those in the Woodstock, GA area, Peter Laczko Insurance Inc. will be happy to help you understand the current policy coverage you have. If there are any gaps that need to be filled, we will be happy to find the additional coverage you need. Give us a call or stop by our office for your no-obligation quote.