You just bought a luxurious, high-end piece of jewelry. You stop to ask yourself, "Will my homeowners policy protect and replace this?" Probably not, as homeowners policies don't always fully cover every loss. You may consider adding a rider or endorsement to your policy to cover big-ticket items.
A rider/endorsement increases or adds coverage for items or issues not typically covered or addressed in your original policy. This may include things like:
A rider/endorsement changes the original policy's terms and usually adds additional cost to your insurance premium.
You can add endorsements/riders to homeowners, renters policies, life, auto, and other insurance policies. Endorsements/riders can provide additional coverage, modify coverage, or exclude coverage for specific types of claims.
Ask your insurance agent or representative which endorsements you should consider adding to your insurance policy.
KEY TAKEAWAYS
About the National Association of Insurance Commissioners
As part of our state-based system of insurance regulation in the United States, the National Association of Insurance Commissioners (NAIC) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally.