Homeowners insurance is designed to protect you in case something happens to your home, like if it is damaged in a fire or storm. It will also protect you if someone is injured while on your property, covering their medical expenses and preserving your finances if the person decides to sue. However, homeowners insurance policies are not without limitations, meaning that certain events are typically not covered under standard policies. Read on to learn about two crucial add-ons that won't cost much more but can make a big difference in an emergency. 

Equipment Breakdown Coverage 

In general, things like your home's electrical system, air conditioning, boilers, and solar panels are not covered under standard homeowners insurance. If something goes wrong with any of these pieces of equipment, causing damage to your home, you'll likely have to foot the bill for the repairs yourself. Home repairs can be quite costly, so this can have a major impact on your budget. If you add equipment breakdown coverage to your policy, though, you'll likely be able to get the damages covered by your insurance. Adding this coverage to your policy will typically result in only a nominal increase to your premium, which is a small price to pay for added peace of mind. 

Water Backup Coverage 

If your home is equipped with a sump pump, your homeowners insurance policy likely won't cover water backup from your system. This is a major problem, as backed-up water can cause serious damage to your property. In addition to the water damage itself, you'll also have to deal with the possibility of mold and mildew forming in any areas that are not fully dried, possibly creating a health hazard for you and your loved ones. Adding on water backup coverage will solve this problem with a minimal increase to your annual premium. 

Evaluating Your Additional Coverage Options 

These are just a few of the many options you have to add to your homeowners insurance policy. The insurance specialists here at Southern Colorado Insurance can help you understand the details of your policy, including what is and is not covered. We'll be more than happy to answer any questions you have about enhancing your policy with additional coverage based on the features and amenities of your home. Reach out to us today for expert advice and assistance regarding your homeowners insurance policy.