Best Add-Ons For Home Insurance To Fully Protect Your Home

27 April 2022 by Elijah Steward

Your home belongs to you. It is the place where you go to relax and unwind. It is your personal oasis, which is why you are going to want to ensure that your homeowner's insurance policy is as robust as possible to ensure you have the protection you need. 

Having a basic homeowner's insurance policy isn't enough though; you need to purchase a comprehensive policy that will provide you with all the protection that you need. That can be achieved through purchasing add-ons, which expand upon your basic coverage, and ensure that you are really protected against the unexpected when it comes to your home. 

Inflation Guard

As recent times have shown, you can't predict when inflation will occur or how rapidly it will rise. When you reviewed your homeowner's policy, your coverage limits may have been more than enough to allow you to rebuild your home should disaster strike. However, over the course of the year that the policy is in effect, inflation could change that. Due to inflation, you could end up underinsured should something happen to your home.

By adding an inflation guard to your policy, you are protected against rising inflation. Your coverage will increase in correlation with the rise in inflation. That way, if you experience what is known as a complete loss of property, you will not be out there dry, wondering what happened and what you should do. Your policy will take inflation into account, ensuring you always have the coverage you need.

Home-Based Business

So many people are working from home these days. Perhaps you work from home full-time, running your own business. Or maybe you are running a side hustle out of your home that you want to turn into your full-time gig at some point. Either way, you are running a small business out of your home. 

When your home is the base of your small business, you don't need a commercial insurance policy. Instead, you need to add a home-based business endorsement onto your homeowner's insurance policy. That way, if your home office or inventory for side hustle are destroyed by a covered peril, replacing them will be covered. With a home-based business rider, medical bills that could occur should someone ever visit you for business purposes and get hurt in an accident will also be covered. 

Scheduled Personal Property

Some things that you own are worth more than others. Although your personal property is covered with a basic homeowner's insurance policy, there are individual limits in place on how much your policy will pay for a single item. That is why you are going to want to add a scheduled personal property add-on for all of your personal belongings that carry a value that exceeds your basic personal property individual item limits. You can get a scheduled personal property add-on for individual items, or group items together in a collection. A big advantage of a scheduled personal property rider is that the items covered under it will have either no deductible or a very small one should a covered item be damaged.

If you want to fully protect your home with homeowner's insurance, you need to understand how add-ons work and what you need to get the protection you desire. 

For more information about home insurance services, contact a local insurance agent.

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