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Don’t Forget These Additions To Your Standard Insurance Policies


At a restaurant, you may be used to eating places that serve food a la carte. That generally means you get what’s there—any extras, sides or additions will have to be ordered and paid for separately. More and more, it almost seems like insurance policies are becoming a la carte, because the list of available additions to standard policies—coverage that isn’t included in the policy itself– is getting longer and longer.

Here are some standard additional coverages that you may want to consider purchasing with your standard policy—and be aware that anything on this list is probably not insured, or may even be specifically excluded, if you just get a standard policy.

Floor insurance – Flood insurance is not standard on your homeowners policy. If you have a mortgage, you may have flood insurance already, if you are in a flood zone, because most lenders require it. But if you are not in a  flood zone or you don’t have a mortgage, your standard policy doesn’t include flood, unless you purchase a separate flood policy.

Artwork or jewelry coverage – This kind of policy depends on whether you are insuring inherently valuable artwork (like a Picasso) or whether you are insuring something that has little market value, but a lot of value to you, like a family heirloom. It may also insure other collectables, like rare coins or stamps. You may also need an appraisal, in order to add on this kind of insurance.

Mold – It is almost impossible to get homeowners insurance coverage for mold damages. The best you can do is get coverage for mold damage, that is a result of a covered loss—for example, if a burst pipe is covered, and it results in mold, then the mold damage will be covered. But that coverage is usually only available with the purchase of an add on to your policy.

Business insurance for at home businesses – This can actually be a number of add-ons, including general liability, business interruption, and workers’ compensation insurance. It can also include damage caused by water, floods, or fires. If you have inventory in your home, you will need to make sure the insurance covers the value of that inventory as well.

Earthquake and sinkhole – Although earthquakes are not common in Florida, sinkholes do happen. They are not covered in a standard insurance policy.

Watercraft – If you have or house a boat in your home, your standard policy won’t insure damage to the boat. A watercraft policy is needed. The watercraft policy will both insure the vehicle, as well as liability or damage caused by others through the use or operation of the watercraft. The additional may also cover damage to the watercraft as a result of hurricanes or tornadoes.

Contact the Miami property damage insurance attorneys at Velasquez & Associates P.A. if you have a dispute with your insurance company.




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