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Homeowners Insurance :: Six Riders You Should Consider

When it comes to homeowners insurance, most people establish a policy when they first purchase a home and then hardly, if ever, revisit it to make sure they’re adequately covered. They may think it’s fine to opt for the bare minimum, but they could be leaving themselves at risk. Here are six riders to consider adding onto your homeowners insurance policy.

1. ID Fraud

Did you know you can help protect your identity under homeowners insurance? Most carriers will add this coverage to your policy for as little as $25.00. This coverage will help pay the fees associated with recovering your identity if it is ever stolen. Learn more about identity fraud reimbursement.

2. Water Backup

Does your current policy cover you if your sump pump fails and you have water in your basement? What if the sewer backs up into your house?  If you did not ask for Water Backup coverage on your homeowner’s policy, then the answer may be no. The cost of this coverage is generally inexpensive and can save you a lot of time and headaches should you ever need to use it.

3. Home Sharing

You decide to rent your house out for a few weeks over the summer and someone gets hurt while renting the property. They are looking to collect under your homeowners insurance, but are you covered?  In some instances, the answer may be no. Before you decide to rent out your home, make sure you’re covered  - some carriers require the additional coverage, even if you only are renting your home out occasionally.

4. Valuable Item Coverage

Your insurance should help you protect what matters most – your family, home, business, vehicle and valuable possessions. Added Valuable Item Coverage can help cover claims for personal items like jewelry, antiques, collectibles, art or even high-end accessories, to name a few. Click here to read more about protecting your valuable possessions. 

5. Equipment Breakdown

Homeowners depend on the comfort, convenience, and security their home systems and equipment provide. Unfortunately, most are surprised to learn things like the heating, air conditioning, hot water, or electrical systems are usually not covered by insurance policies, warranties, or service contracts. A sudden mechanical breakdown could potentially cost thousands of dollars, but adding Equipment and Appliance Breakdown Coverage to your homeowner policy helps you have the coverage you need when the unexpected happens. Find out more.

6. Underground Utility Coverage

Most homeowners don’t realize they are responsible for repairing or replacing damaged underground exterior piping and wiring located on their property. This is an expensive process and is not covered by most homeowner insurance policies. Utility Line Expense Coverage not only pays for your repairs, but also for any damage to outdoor property as a result of those repairs (driveways, walkways, lawns, shrubbery, and plants). If your home becomes uninhabitable due to the damage, coverage for your hotel and other expenses is included as well.


SIS Insurance is here to help.

Whether you have a question about your coverage or need a new policy, we’re here to help! SIS Insurance takes the time to provide professional, expert advice on the coverage and products best fit for your needs. Contact us today!