The renter’s insurance policy you purchase from Coosa Valley Financial Group provides blanket protection for all items you own in your Rome, GA home. A few special items might need extra coverage, such as your engagement ring or other valuable jewelry. To add an extra level of protection to these items, add a rider or add-on to your policy.
What are riders and add-ons?
In insurance, we offer two ways to add special coverage to an existing policy. You can add a rider, a clause in the insurance policy that covers a specific piece of property or a specific situation. You can add riders to most insurance policies. Coverage add-ons relating to homes typically cover structural elements.
Common Riders and Add-ons
You can typically add the following common riders for renter’s insurance.
- At-home business rider: Add this rider to cover your business equipment if you operate a home-based business that generates at least $2,000 of annual income.
- Identity theft rider: Adding this identity theft rider covers your legal costs and reputation repair costs if a criminal steals your identity.
- Pet damage rider: A smart rider to add if you have pets or your home-based business involves pets; this pays for the cleanup or restoration of damage an animal causes to your home.
- Replacement cost rider: Check your renter’s insurance because it probably includes coverage for actual cash value for covered items if they get stolen, lost, or incur damage. Adding this rider means instead of getting a check for the depreciated value; you get the replacement cost – what a new one would cost.
- Scheduled property rider: A scheduled property rider pays full replacement cost for a high-dollar item listed explicitly as scheduled property. Many use this to insure engagement rings or expensive big-screen TVs with stereo systems and surround sound.
- Swimming pool coverage: If you rent a home with a swimming pool, this add-on provides you with liability coverage for accidents occurring in or around the pool. Your landlord’s homeowners policy covers liability in public areas of the home, such as the front steps. Still, since the typical visitor to the home can’t hop the back fence and use the pool, you’d incur the liability for an accident, just as you would if your house guest slipped in the shower.
Contact Us for a Policy Review
Don’t let the items in your Rome, GA home go unprotected. Contact Coosa Valley Financial Group today to add helpful riders to your renter’s insurance.