"Additional coverage" refers to extra protection or insurance that is added on top of the basic coverage you already have. It provides additional benefits or financial assistance for specific situations or losses.
Full definition
Know what is included in your policy, and decide whether you want to opt for
additional coverage for specific events.
Consider
purchasing additional coverage for expensive items such as jewellery, silverware, and fur, since coverage with a standard policy may be capped between $ 1,000 and $ 2,000 for these items.
Each insurance company will likely have a slew of
additional coverage options as a part of their standard motorcycle coverage policies.
You can
buy additional coverage for added protection, and additional endorsements are available for valuable collections, jewelry, art and other costly belongings.
You can also
include additional coverage options on top of your policy such as roadside assistance, breakdown insurance and loss of use coverage.
Someone with coverage through work, or with a term policy, might decide to supplement it with
additional coverage from another policy that can provide coverage for a lifetime.
The amount you pay for insurance will go up if you
want additional coverage for high value possessions, or you want full replacement value coverage vs. actual cash value coverage.
Though riders provide
additional coverage at a low cost, only 15 - 20 percent of people who buy insurance opt for riders.
Consider talking to your insurance provider about
what additional coverage you are getting from your home, and healthcare insurance policies.
Renters insurance is based on the value of the contents you want to insure in your home and as an added perk, you get
additional coverages like liability insurance and additional living expenses.
In addition, you can take advantage of different types of plans, such as funeral insurance with cancer for example that provides
additional coverage when needed.
While a standard condo insurance policy will help protect you, a personal umbrella policy could offer
additional coverage by extending the limits of your coverage.
If you have a lot of expensive jewelry, you may want to look
into additional coverage above and beyond your home insurance.
It is reasonably cheap, and it includes as many children as you have up to age 18, with
additional coverage up to age 25 if they are attending college.
You have to decide how much insurance coverage to purchase, whether to get
additional coverage so that you will be compensated for your personal belongings if they are damaged in an accident.
If these limits are insufficient for your possessions, you can
obtain additional coverage in the form of a property schedule or endorsement.
Likewise, some states require
additional coverage beyond a strict - liability policy, so the absolute lowest auto insurance rates might not be a possibility in this case.
If your farm or ranch is a business as well, you may want to consider
other additional coverages like loss of income, workers compensation, commercial auto and errors and omissions.
A fire insurance policy includes
additional coverage against smoke or water damage due to a fire and is usually effective for one year.
In these contexts, however, you may have the benefit of
additional coverage under a policy maintained by the organization — ask your supervisor for details of that coverage.
With healthcare and automotive repair costs continually rising, it is advisable to
seek additional coverage if you reside in this state.
A local agent can help you decide
whether additional coverage designed to help protect specific items (often referred to as scheduled personal property coverage) makes sense for you.
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