House insurance endorsements change the original coverage of a policy. These can add, remove, or modify protection. You may also hear endorsements referred to as riders or floaters. With home insurance policies, they typically add extra protection to the policy in exchange for higher premiums. The most common use is to insure especially valuable items that are not looked after by a standard policy. Read on for a list of common homeowner's insurance endorsements.
- Guaranteed replacement cost coverage - pays for the expense of rebuilding your home as long as you do not violate the terms of your policy.
- Extended replacement cost coverage - insures your home for a certain amount and adds an additional limit of 20%-25% if the actual reconstruction expenses exceed that amount.
- Inflation guard - raises the amount of your house insurance coverage to keep pace with inflation so you have sufficient coverage to replace your home after a loss.
- Scheduled personal property - insures items of extraordinary value, such as collector's items, jewelry, instruments, firearms, electronics, antiques, and more. With a standard home insurance policy, items whose value exceeds a certain limit are not protected. For a small additional cost, these items can be fully insured with personal property endorsements.
- Secondary residence - protects the insured's second home.
- Theft coverage protection - widens the scope of a house insurance policy's theft protection to include the items you keep in your vehicle or boat.
- Identity theft protection - reimburses the policyholder for costs resulting from the theft, unauthorized use, or loss of credit cards. Some identity theft endorsements also protect against check forgery.