One of the most important parts of a homeowners insurance policy is the protection it provides for personal property. In the event your belongings are damaged or stolen, your coverage will help replace them. However, standard policies only offer reimbursement up to a certain limit. Thus, if you own higher-valued items, you’ll have trouble recouping your losses. Fortunately, riders are available as an add-on option to help you secure better coverage. Below is an overview of how these work.

What Is a Rider? 

A rider, also referred to as an endorsement or floater, is additional coverage you can purchase for specific possessions that are worth more than the limits your standard homeowners insurance policy allows. They are designed to provide more customized protection according to your unique needs. Riders aren’t standalone policies and can only be purchased as a provision to your regular insurance.

Why Are They Necessary? 

If you have expensive items, a rider is the only way to make sure you’ll receive their full appraised value should you need to file a claim. Otherwise, you may end up experiencing significant financial loss if you’re only paid out up to your policy limit. Also, riders typically cover belongings even when they’re lost or stolen, which your homeowners insurance policy won’t generally do on its own. 

What Do They Cover?

Riders can cover a variety of items you may have around your home. It’s common to buy riders for heirloom jewelry, wedding and engagement rings, furs, artwork, antiques, and musical instruments. You may also consider adding a rider if you have any kind of valuable collection, such as stamps, comic books, or baseball cards.

To determine if you can benefit from purchasing a homeowners insurance rider, contact Ebert Agency. They’ll help carefully assess how much your belongings are worth and make sure you have adequate protection for your most valuable items. For more than 90 years, they’ve been providing residents in Foley, AL, and the surrounding communities with high-quality coverage solutions at competitive rates. Call (251) 943-2281 to set up an appointment, or visit them online for more information on the services they offer.