Bingham Insurance Group, serving Braselton, GA, wants you to get the most out of your home insurance. We want to explain how you can add to your home policy, regardless of its type, to cover items that fall outside the purview of a home policy.
This blog explains how to add special coverage to your home policy to cover your jewelry, hobby equipment, a home-based business, etc. Your home policy, whether homeowners,’ renters,’ or condos, protects the items inside your home up to a percentage of the home’s value or a stated value.
Your high-value items often don’t receive coverage because their value exceeds the property allowance in the policy. To insure these items, you need a rider, also called a floater, to your insurance.
The typical home policy covers up to about $1,500 for jewelry. You can add a rider to cover your engagement or anniversary ring fully. If you own other high-value jewelry, you can cover it in the same rider.
Home policies also do not cover hobby equipment. Your photography, videography, or recording equipment requires a rider, too.
Any home-based business needs its own coverage. The insurance industry doffersan add-on to home insurance that provides business equipment and inventory coverage. It also covers business-related liability. Your home insurance only covers personal liability, so if a vendor, client, or contractor has an accident in your home while visiting for business purposes, your home policy does not cover it without the rider.
Contact Bingham Insurance Group, serving Braselton, GA, for more information on how to add coverage to your home insurance policy.