Customizing Your Home Insurance Coverage: Do You Need Ride-On Coverage?

When you request a quote for a home insurance policy, it is important to ensure the policy you are quoted for includes the proper amount of coverage for your needs. In many cases, this will require you to customize the policy through the use of ride-on coverage options. If you are not familiar with ride-on coverage, this term simply refers to additional coverage that is included in the policy for an additional fee. Unfortunately, many homeowners automatically decline ride-on coverage options because they assume that the standard policy will be enough to protect them and their home. This is often a mistake since some types of ride-on coverage are commonly needed to truly ensure a homeowner is protected. Below you can learn more about a few of the ride-on coverage options that you may want to add to your policy. 

Hurricane Ride-On

If you live in an area that is prone to hurricanes, you are already aware that this type of severe storm can easily destroy your home if it is located in the storm's direct path. While standard home insurance policies do offer coverage against many weather-related events, hurricanes are not typically included among these perils. Consequently, a hurricane ride-on will be required in order to ensure you are protected against the cost of repairing damage to your home in the wake of a hurricane. 

Earthquake Ride-On

Just as hurricanes are not typically included in the natural disasters covered by standard home insurance policies, neither is damage from an earthquake. While earthquakes can occur virtually anywhere, there are some locations that are far more prone to this type of natural disaster. If you live in one of these earthquake-prone areas, you will want to add an earthquake ride-on to your home insurance policy. 

Flood Ride-On

While the need for hurricane or earthquake ride-on coverage will typically be based on your location, nearly all homeowners can benefit from a flood ride-on. This is because while flood damage is actually one of the most common types of damage that a home can incur, coverage for this type of damage is often excluded from standard home insurance policies. Choosing to add a flood ride-on to your policy will ensure you are protected against the typically high costs of repairing the water damage done by a flood. 

Home Business Ride-On

Many homeowners simply assume that they do not need a home business ride-on because they do not operate their own business out of their home. However, this type of coverage may be required even if you do not own your own business. This is because standard home insurance policies exclude coverage for any type of business inventory or equipment. This includes equipment that is used to allow you to work from home even if you are technically employed by a traditional employer. Consequently, if you have a remote position that allows you to work from home, you will want to consider a home business ride-on. 

Contact an agent for more information about home insurance