When you rent a home in Sioux Falls, SD, let Wilcoxon Insurance Inc. help you customize your renters’ insurance policy with riders that help you cover all of your valuables in every situation.
A rider refers to an added clause in your insurance policy that applies to specific property or situations. You can add riders to renters insurance just as you can to homeowners’ and auto policies.
Seven common riders serve renters’ policies:
- Scheduled property rider: This rider increases the coverage limit for high-dollar items that wouldn’t typically receive full coverage for replacement. Typically, items like diamond earrings or a gaming computer fall into this category.
- At-home business rider: This rider covers your business equipment if you operate a home-based business that earns more than $2,000 a year. Typically, items like your computer or photography equipment fall into this category.
- Replacement cost rider: Most policies include an actual cash value, which means the depreciated value after the initial purchase of the item. Adding a replacement cost rider gets you a reimbursement that covers the actual cost of replacing the item with a new one.
- Pet damage rider: This rider covers you for any liability for damage your pet causes. You won’t have to pay out of pocket for the stained carpet from when your pet got sick from something they ate.
- Identity theft coverage rider: Adding a rider for ID theft affords you a cash payment to resolve issues arising when your identity gets stolen. Some riders even include help putting you in touch with experts who can help you resolve the problem.
- Earthquake/Hurricane coverage rider: Adding an earthquake or hurricane coverage rider covers personal property damage damaged in the storm covered by the rider. Certain states don’t include these natural hazards in their named perils in the standard policy.
Get The Right Coverage Today
Protect your belongings fully with renters insurance that includes the right riders that apply to your situation. Contact Wilcoxon Insurance Inc. serving Sioux Falls, SD today.