Generally, an insurance rider is an optional add-on to an insurance policy. It is also called a floater or an endorsement. A homeowners insurance rider amends a basic policy, allows you to increase your coverage limits, expand coverage for certain property, or extends protection to help cover additional risks. A rider serves an expanded purpose to secure your home based on your identified circumstance.
Why the Need for a Homeowners Insurance Rider?
A typical homeowners insurance policy comes with a set of standard protections like dwelling coverage, other structures coverage, personal property coverage, and personal liability coverage […]
Did you ever hear the myth about homeowners insurance that it covers every disaster or loss imaginable? Those who believe this misconception usually find out too late that their policy doesn’t cover many ‘presumed to be covered’ disasters. To prevent surprise costs, you need to be clear about the terms before you agree to them. Here are 4 common myths about home insurance that you should be aware of:
1. Coverage Against All Floods:
People who haven’t taken the time to understand the terms of their standard homeowners insurance might assume that flooding is automatically covered […]
Owning a home is a great experience. However, to be a proud owner, make sure you avoid common homeowner mistakes.
Here is a list of five costly, common homeowner mistakes that you can avoid:
Ignoring “Small Stuff”
You love and feel good about the home you purchase. However, ignoring the small issues may potentially blow up later. Think about the squeaky floorboard on the deck or a leaky showerhead – these issues can lead to expensive repairs or increased water bills. Address these issues and get them fixed immediately.
Not Conducting Regular Inspection […]
Buying homeowners insurance can be expensive, but it is important if you need to pay mortgage loans. The insurance rates may vary depending on whether your home is labeled as high-risk. Numerous factors play a role in your home being labeled high-risk.
Here are the factors that may label your house as high-risk:
If your home is near or in a disaster-prone area or your neighborhood has a high crime rate, it can be labeled high-risk.
If the home holds a history of […]