A general homeowner’s insurance policy will provide you with much of the coverage you will need in the event of a claim, but some events may not be covered under a standard policy or may not be enough to cover the loss. At Insurance Pro Group, Inc. in Suwanee, GA, we know the importance of insuring your home and belongings against all types of risk. Listed below are three optional coverages to add to your homeowner’s policy that is worth the cost.
Additional Jewelry Coverage
While homeowners’ policies cover the loss or theft of jewelry, the limit is often lower than the value. Theft coverage for jewelry in a standard policy will only cover between $1500 and $2000. This may not even be enough cost to cover one item of jewelry such as an engagement ring, let alone an entire collection. There is optional coverage to add to your policy that includes a higher amount of jewelry coverage. If you have any valuable pieces or a large amount of jewelry, this option would be worth the investment.
Sewage Backup Coverage
Sewage backup is a type of water damage that occurs when the sewage in the pipes backup up into your home through drains. When this occurs, you will not only have a significant amount of water damage but typically a health hazard as well. Sewer cleanups require specialists to help prevent mold and mildew and ensure that all of the areas are safe to reinhabit. A standard homeowner policy does not cover sewer backup, and costs for clean up can range from $2000 to $10,000 depending on how much damage occurred.
Actual Cash Value
When storms hit the Georgia area, your home may suffer significant harm due to high winds, heavy rains, or falling trees. If you experience a significant amount of damage, you may find yourself replacing some high ticket items in your home. When choosing your homeowner’s policy, you will have the option of opting for replacement value or upgrading your policy to cover actual value. When it comes time to replace high-cost items such as furniture, a replacement cost policy will only provide you with the current value of your particular item less the depreciated value. Unfortunately, this can leave you short on funds when it comes time to replace your damaged possessions. Receiving the actual value to replace the items will be less stressful for you and your wallet.
Preparing for the worst is important when it comes to homeowner’s insurance. If you find yourself without proper coverage or too little coverage when disaster hits, you could end up paying significant costs for repair. Protect your home and valuables by discussing your homeowner options and add-ons with an insurance agent today. If you would like to learn more about the options above or other additional homeowner protection, contact an agent at Insurance Pro Group, Inc. in Suwanee, GA today.