Additional Homeowner's Insurance Coverages

Sometimes, your homeowner's insurance policy won't cover everything you might want or need. It is a good idea to understand what is or isn't included in your policy, and then to consider additional home insurance coverages to ensure you are fully covered. You don't want to end up in a situation where you think your insurance will help make you whole again, only to find out that you are not covered for that peril.

Flood Insurance

The most important exclusion is flood, as many people have learned to their great misfortune. If you need flood coverage, any property/casualty insurance agent can help you get it. If you live in a flood-prone community, don't risk going without flood insurance. See your broker about flood coverage.
  • Floodsmart.gov - Official website of the National Flood Insurance Program

  • FEMA Flood Map Service Center

     (MSC) 

    - an intuitive and user-friendly source of information for the general public and a powerful flood hazard product portal for those working in flood insurance, hazard mitigation, and floodplain management.

Extra Contents Coverage

Remember that most of the coverages are a flat percentage of the amount of insurance on the home itself. For example, contents coverage is 50% of the insurance on the home itself. If you insure your home for $100,000, the contents coverage will be $50,000. For a minimal extra charge, you can increase the coverage on your contents without increasing the amount of insurance on the home itself.


Replacement Cost

Most companies offer "guaranteed replacement cost coverage" for an additional premium. Ask your agent if this is available and to explain the advantages of having this broader coverage. The most important coverage that is usually offered is full replacement cost coverage on your roof with no deduction for depreciation.


Personal Property Extensions of Coverage

Another good example concerns special limits on certain types of personal property. For example, most policies limit their coverage for the theft of furs or jewelry to $500.The limit for firearms or computers is often $1,000. Numerous other items are also typically limited to $500 or $1,000 since the homeowner's program is designed to fit the coverage needs of the average insured. It is the consumer's responsibility to review the limitations placed on certain types of property. If needed, increase the coverage of one area or another by adding a "scheduled personal property endorsement" to the basic policy.



Earthquake Insurance

No standard insurance policy, including the homeowner's policy, covers catastrophic damage that can be caused by an earthquake. For an additional premium, companies offer an earthquake endorsement with your homeowner's policy that will protect you in case your home suffers earthquake damage. In some areas, this coverage is typically inexpensive and should be considered. This is the case for South Carolina; despite the fact that fault lines do run through the state, earthquake activity is infrequent. To learn more about earthquake coverage, review our Earthquake Coverage guide here.

Additional Liability

You can also purchase additional liability coverage and medical payments coverage for a nominal premium.