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.