What Riders Should Homeowners Include in Their Policies?

How familiar are you with your homeowners insurance policy?

Many people erroneously believe that their homeowner’s policy will cover anything that ends up damaging their property. Unfortunately, this isn’t always the case, and we’ve dealt with several restoration projects that would’ve been much less expensive or even free if the client had carefully reviewed their policy. It’s critical to have homeowner’s insurance, but you also need to consider any extra factors that can impact you based on your lifestyle and the area that you live in. For example, people who like to buy a lot of jewelry should definitely add on a jewelry rider so that all of their expensive pieces will be covered if they’re stolen or damaged in a natural disaster.

What About Water Damage Restoration?

Water damage can happen at any time, and it’s not necessary to live in an area that’s prone to floods in order to experience this problem. You could end up with extensive water damage restoration needs as a result of a burst pipe, accidentally leaving a window open during a storm, or even a sewage backup issue. Insurance companies are traditionally very reticent about openly discussing potential water issues because they don’t generally cover this type of damage in their basic policies. Due to this, you need to ask specific questions and read through the entire policy in order to determine if it will be necessary for you to add on a rider. Keep in mind that floods are the least likely type of damage to be covered, and anyone with a basement or a house located near a body of water needs flood protection.

How Does Fire Loss Restoration Work?

Several of the restoration jobs that we get each year are caused by a fire. This can be an extremely devastating catastrophe, and it often leaves people needing to have entire sections of their home rebuilt. The good news is that fire damage is one of the items that can almost always be found on a basic homeowner’s policy. It’s still important to take a close look at the total amount of coverage that will be provided and at any specific exclusions that could negatively affect you if your house does catch fire. Again, every homeowner should be cognizant of the exact type of coverage that they’re purchasing before they move forward with a new policy.

If your home needs fire or water damage restoration, contact Paul Davis Restoration & Remodeling to schedule an estimate. Our experienced team can work with your insurance agent to ensure that you get the best results from your claim.