Do You Need Endorsements in Your Home Insurance?

Learn what endorsements are and decide if you need them for your home insurance.

If you own a home, home insurance gives you some peace of mind.  Generally speaking, most homeowners insurance policies cover damages and losses due to fire and storm damage, but is your policy really giving you the protection you need?  Many standard policies do not provide coverage for things like flood damage, earthquake damage, or even vandalism.  If you’ve read through your insurance policy and decided you need more coverage, then a home insurance endorsement might be right for you.

What is an endorsement?

An endorsement, also known as a policy rider, adds coverage for risks not covered in your original policy.  Of course, this additional coverage does mean that you will have to pay an additional premium.  However, for many homeowners, this extra investment is worthwhile.

Why should I consider an endorsement?

Plainly speaking, an endorsement saves the homeowner from having to pay for certain damages out-of-pocket.  Take, for example, homeowners living in areas with a high risk for earthquakes.  A home insurance policy will only provide coverage for the homeowners who have added an earthquake endorsement to their policy.  This endorsement will cover home repairs, debris removal, and so on.  Without an endorsement, the financial burden of the earthquake damage would fall to the homeowner.

How do I know which endorsements to add?

When you’re choosing an endorsement, the first thing you should do is go over your homeowners insurance carefully.  Find out exactly what you are covered for and understand your policy’s coverage limits.  Additionally, you should also take into account the individual risks you face.  Do you live in an area with high rates of theft and vandalism?  Do you live in a high flood risk area?  These are the factors that should inform your decision.

Ultimately, deciding to add an endorsement to your homeowners policy is up to you.  While there are added insurance premiums, many homeowners find endorsements worth it in the long run.  If you decide that you need an endorsement, or if you’re simply ready to get home insurance, then contact the professionals at Desert Empire Insurance Services, Inc.  Located in Palm Desert, California, we are ready to serve all your personal and commercial insurance needs.