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Home Insurance Add Ons You Might Want To Get

Coverage for damages caused by natural disasters, burglary and vandalism as well as financial assistance on injury liabilities should not be the only policies included in the home insurance you are getting. Go beyond the infrastructure and delve deeper into your property inventory.

Do you own valuable stuff that needs to be insured? A collection of stamps? Sets of jewelry maybe? What about expensive musical instruments?

Many homeowners actually fail to consider including these properties in their insurance policies. It is only after the damage has been done that they realize how inadequate their existing home insurance is.

This is the best time to tweak the coverage of your insurance plan. Contact your insurance agent and find out if you can have the following included:

1. Musical instruments insurance coverage

Most premium home insurance policies actually include this in the coverage. But most of them also have a limitation. They might only offer up to $2,000 of compensation for damaged musical instruments caused by natural disasters or theft.

There is a way for you to increase coverage without ditching your current insurance policy and getting a new one. Consider the benefits of incorporating floaters in your insurance policy. The thing about floaters is that you can specify which items in your property inventory require more coverage. It also allows the homeowner to choose a coverage amount for the said items.

This kind of feature applies not only to musical instruments. You can use this method when insuring other valuable properties.

2. Home business insurance

Are you operating some sort of home business? Do you have a home office or a home-based business establishment? Do your clients or customers frequent your house? If so, your typical home insurance policy is most likely lacking.

Your existing business paraphernalia and equipments are not included in the coverage. So is the liability. In case something happens to your clients while inside your home such as injuries or accidents, it will not be covered by your insurance policy.

This add-on is a must to keep damages to business property and liability covered. On the other hand, you might also want to consolidate your insurance policies and get stand-alone business insurance together with your home insurance for broader coverage.

Before you shop around for the best home insurance policy, sit down and reflect on your current and future needs first. Itemize the things you want covered so you don’t end up with a bad insurance bargain.
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