Whether it’s a diamond ring or a silverware set, you can insure the things you value most. Find out more about affordable insurance options!
Top Ways to Save on Your Homeowners Insurance Premium
- Consider raising your deductible.
- Invest in a home security system.
- Update exterior locks to dead bolts.
- Install smoke alarms.
- Select an automatic payment method.
- Monitor your credit rating.
- Ask about our multi-policy discounts.
To properly protect your valuables outside of standard homeowners, condominium or renters insurance policies, there are additional coverage options through a policy endorsement or floater.
Endorsements are additions to your homeowners, condominium or renters insurance policy that change or add to the policy’s provisions. The endorsement can cover property otherwise excluded from a basic homeowners insurance policy, extend the number of perils included, or increase the amount paid for a covered loss. The items of value are “scheduled” on a list that includes a brief description and the item’s dollar value.
To determine each item’s value, an appraisal or sales receipt is typically required. This will help ensure that, in the event of a covered loss, the amount of insurance is enough to cover the repair, replacement or cash payment of the item. Items scheduled are typically not subject to the policy deductible.
A separate personal articles floater policy may be used to schedule your valuable property that is subject to special limits under basic homeowners coverage.
Once you have an endorsement or floater, it is important to periodically review your policy’s coverage limits to minimize the likelihood of being underinsured due to outdated appraisals and inadequate limits of insurance.
Also Read: What to Do When Someone Falls in Your Home
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