What Perils Do I Need Additional Insurance Coverage For?

When it comes to home insurance, whether for a traditional house or a mobile home, the standard policy typically covers a range of perils or risks. However, there are some risks for which you may need to obtain supplemental insurance coverage to ensure proper protection. These additional coverages are often referred to as endorsements or riders. Here are some common perils for which you might need additional insurance coverage:

Flood Insurance: Standard home insurance policies usually do not cover damage caused by flooding. If you live in a flood-prone location or near bodies of water, you must obtain a separate flood insurance policy from the National Flood Insurance Program or a commercial insurer. Flood insurance can protect your property and belongings from flood-related damage, such as flooding caused by severe rain, storm surges, or overflowing rivers.

Earthquake Insurance: Earthquake damage is not typically covered by standard home insurance policies. If you live in an earthquake-prone region, such as California, the Pacific Northwest, or other seismic areas, you should consider purchasing earthquake insurance. This coverage assists with the repair or replacement of your home and goods that have been damaged by earthquakes.

Sinkhole Insurance: In areas with a history of sinkholes, standard policies may not cover damage caused by these natural phenomena. Sinkhole insurance provides protection in case your home is damaged by the sudden collapse of the ground into underground voids.

Sewer Backup Coverage: Standard policies often exclude coverage for damage caused by sewer backups or sump pump failures. Sewer backup coverage is an endorsement that can help pay for cleanup and repairs if sewage backs up into your home.

Home Business Coverage: If you operate a business from your home, standard home insurance typically won't cover business-related losses or liabilities. You may need to purchase separate business insurance or a home business endorsement to protect your business assets and liability.

Jewelry, Art, and Valuables: While standard policies provide coverage for personal property, there are often limits on the coverage for high-value items like jewelry, fine art, and collectibles. To fully protect these items, you may need to purchase additional coverage, often referred to as a scheduled personal property endorsement.

Additional Structures: If you have structures on your property, like a detached garage, shed, or gazebo, you may want to ensure they are adequately covered. Consider adding additional structure coverage to your policy to protect these assets from perils like fire, theft, or vandalism.

Identity Theft Insurance: Identity theft insurance can assist in covering the costs of restoring your stolen identity, such as legal bills, credit monitoring, and missed pay due to time spent resolving the issue.

Animal Liability Coverage: If you have pets, particularly dogs, some home insurance policies exclude coverage for certain dog breeds or dog-related liability claims. You can purchase animal liability coverage to protect against lawsuits resulting from pet-related incidents.

It's important to carefully review your home insurance policy and discuss your specific needs with your insurance provider or agent. They can help you identify any coverage gaps and recommend appropriate endorsements or additional policies to ensure you are adequately protected against the perils that pose the most significant risks to your home and belongings.