Three Items That May Require A Homeowners Insurance Rider Add-On

Homeowners insurance is designed to protect your home and all of the property inside. In the event that these items are damaged because of specific weather events, natural disasters, or lost through theft or vandalism, your homeowners insurance policy will reimburse you for the value of the lost items. However, there is usually either a monetary or percentage limit that homeowners insurance policies will apply to personal belongings that are covered. This will vary from policy to policy, but in general, expect to get about half of the value back for your items. This means that if you are looking for more complete financial protection, you may want to consider purchasing extended coverage, or "riders," for those items within your home that are worth more than normal furniture and clothes. Keep in mind that these policies do represent additional payments over and beyond your general homeowners insurance plan, but they bring about an increased peace of mind and better financial security so are well worth the expense.

Jewelry

Obviously, the stereotypical valuable items that you own are likely pieces of jewelry. These items are small, easily stolen, and depending on the gems and metals that they are made out of, can be quite expensive. Indeed, depending on the size of your collection and the value of individual pieces, you may want to consider taking out multiple insurance policies, especially since valuable items may be best covered under their own plans and terms, especially older family heirlooms and hand-me-downs.

Electronics

The most expensive items that you may have in your home, especially if you have younger children who have just gotten their first computer or smartphone, will be your electronics. Single phones can cost in the hundreds or thousands of dollars, as can laptops, tablets, gaming computers, and other similar appliances which would be prime targets for burglars and are particularly susceptible to water damage. Purchasing additional coverage for these items — unless they are covered by manufacturing warranties — is a good way to ensure that you won't have to stay off the grid in the event that your home is robbed or damaged. 

Firearms

Though perhaps not as monetarily valuable as some other items you may have in your home, it can be important to get specific insurance policies for firearms since they are at particular risk of being stolen, even if stored in a gun safe (since smaller safes may simply be stolen on their own). Alternatively, older or antique firearms can be extremely valuable if they have historical implications or simply are no longer manufactured, which can warrant the additional financial protection.