Should I Get A Rider For My Homeowners Policy?

Your homeowners insurance policy covers your property from risks like fire and theft. But it may not cover as much as you think. If you own any property that has special value, you may need to get riders on your homeowners policy to protect it.

Riders Are Extra Coverage

Riders – sometimes also called endorsements – are conditions added to an insurance policy to give you extra coverage. Riders are usually inexpensive to add. And they protect valuable property that isn't fully covered under a standard homeowners policy.

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Riders usually cover valuable property such as:

• Jewelry
• Fine Art
• Silverware
• Antiques
• Business Equipment

If these items were damaged or destroyed, the insurance company would only pay out for a fraction of their value unless you have a rider.

Homeowners policies will also specifically exclude the loss of valuable items due to theft. For example, your insurance policy might cover the loss of an expensive necklace due to fire. But if that same necklace were stolen, you might be out of luck.

To be certain that you are protected, you could add a rider to your policy to cover your jewelry against theft. If you run a home business that depends on having items like a computer, you can add a rider that specifically protects them.

Riders For Rebuilding

Two other common reasons for adding riders to a homeowners policy are protection against building code and zoning changes.

If the city that you live in changes their building codes, you may be forced to update the structure of your house. Common updates include adding modern windows or building new foundations. With a “code-and-contention” rider, your homeowners policy will help pay for the cost of these expensive projects. This is can be very helpful, especially if you own an old house.

Some homeowners also find that their lots have been re-zoned by the local government. If your house was destroyed by a fire or natural disaster, you would be unable to rebuild your home on that lot. But rebuilding on a new lot would be much more expensive than the amount your policy will pay out. A rider could ensure that the payout is enough to rebuild your home on a new lot.

Riders can add crucial protections to a homeowner’s insurance policy without much cost. If the standard policy doesn’t give enough coverage for your situation, riders provide an easy and affordable answer.

To find out if a rider is a good idea for you, talk with an insurance agent. You can use our free homeowners quote service to get matched with agents in just minutes. They'll answer your questions and help you make an educated decision about what kind of coverage you need.