Endorsements & Optional Coverages
Endorsements tailor a personal lines policy to an insured's specific needs by adding, removing, or changing coverage. This chapter covers common personal lines endorsements and optional coverages, all of which are available nationwide.
Scheduling Valuable Property
Because homeowners policies cap payment on categories such as jewelry, furs, and fine art through special sublimits, an insured with valuable items can add a scheduled personal property endorsement (personal articles floater). Each item is listed with an individual limit based on an appraisal, and coverage is typically broad (open-perils), applies worldwide, and often has no deductible. Scheduling is the standard way to fully protect items worth more than the base policy's internal limits.
Broadening and Optional Coverages
Common personal lines endorsements broaden or add coverage. Replacement cost coverage on contents removes the depreciation deduction on personal property. Water backup coverage adds protection for sump-pump and sewer backup losses that the base form excludes. Because standard homeowners forms exclude flood and earth movement, separate flood insurance or an earthquake endorsement addresses those catastrophic perils. Ordinance or law coverage helps pay the extra cost of rebuilding to current building codes.
Umbrella Liability
A personal umbrella policy adds a layer of liability limits above the insured's underlying home and auto liability coverage and may cover some claims the underlying policies exclude, subject to a self-insured retention. It generally requires the insured to carry specified underlying limits first. An umbrella is excess liability protection, valuable for insureds who want higher liability limits than a standard home or auto policy provides, and it is not property coverage.