6/23/2015 11:30 AM

Why You Need a Deluxe Homeowners Endorsement

When the tornado hit in Kokomo, Indiana at the end of 2013, everyone around Kokomo suffered from it in one way or another.  Some unfortunately lost everything, while many others only sustained some damage.  But at the time of a loss, whether big or small, it is always good to have enough of the right protection.

My family was all very lucky, as none of us suffered any terrible damage.  But all suffered from the loss of power for days as Kokomo recovered.  

Frozen FoodFor my parents, this meant a loss of money in the form of food.  They have a standard fridge freezer mix in their house, but in the garage they have a second large freezer.  With the power outage, they lost everything in their second freezer.

I don’t know if you have a second freezer yourself, or know someone that does, but those things are ALWAYS well stocked.

And if you imagine the cost of the food, knowing that one frozen meal can range from $3 to $7 dollars easily, you can see how a freezer stocked full of frozen foods can add up to hundreds of dollars quickly.  That’s a big loss to sustain.  

The loss is even worse if it is on top of a larger loss.  Some people lost everything in the tornado, including their supply of food.

Honestly, one loss like that covers years of carrying the extra coverage, especially since there is often no deductible for this particular coverage.

That’s what I like about the homeowners insurance deluxe coverage offered by our preferred companies. It provides some extra coverage to the standard homeowner’s insurance policy that makes sense at the time of a loss, and gives you better protection.

Here are a few things that tend to be part of a deluxe homeowners insurance endorsement:

  • Identity Restoration
  • Refrigerated products (includes frozen) with $0 deductible
  • Remove of trees downed by wind and ice with $0 deductible
  • Sewer backup
  • Lock replacement for lost keys
  • Liable and Slander liability
  • Increase in coverage for jewelry theft, and possibly other personal belongings
  • Loss Assessment
  • Ordinance of Law
  • Protection for Animals
  • Incidental Business Pursuits of Children

This is just a general list, sort of combining possibilities from each of our companies.  Every company has a specific list of what is offered, so look at your policy or ask your agent before determining your exact coverage.

Many of these items also have limits, but the limits are either increased from the original homeowner’s insurance policy or would normally be excluded in the standard home insurance policy.  For example, one of our companies offers $500 for lock replacement if your keys are lost or stolen.  

One of the best parts about these endorsements is they aren’t very expensive to add to your existing home insurance policy.  Our companies range from $3 to $4 a month to add the deluxe homeowner’s endorsement.

It doesn’t hurt to ask, so give us a call and we can quote what it would cost, and what coverages it would provide, to add this coverage to your policy.
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