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What are home insurance endorsements?

A policy endorsement is a supplemental form of coverage that you can add to an existing insurance policy to expand the scope of your coverage.  For instance, homeowners can secure policy endorsements to address the coverage gaps in their homeowners insurance in Lubbock, Texas.  Here’s what you need to know about home insurance endorsements.

Limits of Your Home Insurance

Before you consider your insurance endorsement options, you need to understand the limits of your coverage.  Typically, homeowners insurance policies exclude coverage for the losses related to the following:

  • Flood
  • Business Equipment
  • Earthquakes
  • Valuable Personal Property
  • Future Assets
  • Damage from War
  • Pollution
  • Nuclear Accident
  • Intentional Damage
  • Normal Wear and Tear
  • Construction Defects

Please note that certain perils cannot be covered by an endorsement.  For instance, if you want to secure coverage for flood damages, you would need to secure a separate flood insurance policy.

Popular Home Policy Endorsements

Here are some of the most popular types of insurance endorsements that you should consider getting:

  • Sewer Backup- Pays for the repairs and remediation efforts your home needs if you suffer water damage due to a sewer backup.
  • Scheduled Personal Property- Pays to repair or replace valuable items that exceed the coverage limits of your home policy.  For instance, this endorsement can cover things like jewelry, electronics, fine art, etc.
  • Personal Injury Endorsement- Increases your home insurance coverage to cover things like false arrest, wrongful eviction, slander, defamation, and advertising liability.
  • Home Business Endorsement- Covers your home business equipment, supplies, and legal liability.
  • Secondary Residence Premises- Adds coverage for your vacation home or another secondary residence.

This is what you need to know about home insurance endorsements.  Do you have additional questions about your homeowners insurance in Lubbock, Texas?  If so, then contact the experts at Promised Land Insurance Group today.

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