Home and Car Insurance Add-Ons

At Surex, we’re constantly doing our best to help our customers to get access to strategies to save money and get the best coverage possible. This has led us to explore an area we’re hearing more about lately: Insurance policy add-ons. Today, we’re going to walk you through what they are, how they can help you with your desired coverage and your finances, and some of the most common examples we’ve seen. 

We hope this article helps you to realize a bit more about the coverage that is available to you. We feel that insurance add-ons can be a great opportunity for you to get your insurance coverage tailored to your specific needs.

What is Add-on Insurance?

In essence, add-on insurance, like disappearing deductible coverage,  is a way for you to pick and choose specific elements of your insurance coverage. This allows you to have an a la carte style of insurance coverage, whereby your specific needs are being met. 

Insurance add-ons (like loss of use coverage) can be straightforward elements of coverage or they might be a bit less common and more specific. The real benefit associated with them is that add-ons not only let you pick up extra coverage for something that might not already be covered, but it ensures that you’re not paying for coverage that might not apply to you. All in, they’re a dream come true for our customers, which is why so many of our insurance partners offer add-ons. Bear in mind that not every policy or insurer will offer all of the types of add-ons mentioned. For a better look at what your options are, reach out to your Dedicated Insurance Advisor. 

How Can Insurance Policy Add-ons Help?

Basically, insurance add-ons are a great way to have some extra insurance coverage that better reflects your needs. They may become more or less applicable due to a change in your situation. The great benefit of them is that they are often more flexible than your basic insurance policy. Your individual insurance policy will dictate which add-ons you’re able to undertake.

Your Dedicated Insurance Advisor can walk you through some of the types of insurance add-ons we normally see from our customers, and whether or not they could be a fit for you. You might find that there are areas where a bit more coverage could be hugely beneficial to you. 

Types of Insurance Policy Add-ons

Here are some of the common insurance add-ons we see. These should serve as a guide for you and indicate the types of coverage that some of our partners offer. As each policy is different, make sure to check with your advisor to see what policy add-ons could be right for you. 

Home Insurance Policy Add-ons

There are many types of insurance policy add-ons that are available for home insurance policies. Sometimes we see water and service line coverage that will help to cover the service lines on your property. Since you’re responsible for those lines as they pass from public property to your personal property, it could be good to have extra coverage on them that can protect you in case these service lines undergo some kind of failure. ID theft coverage is another type of coverage add-on that we’re seeing more and more. Since there has been such an uptick in the occurrence of crimes related to identity theft, more consumers are taking this possibility more seriously. Identity theft can be a serious problem with far-reaching consequences, so some extra insurance coverage could be a great option for you. 

One other type of home insurance coverage add-on we see is that of ‘floaters’. In essence, floaters are available for all sorts of personal property that would be considered valuable. The actual amount of value depends on the person and their lifestyle, but some of the common types we see are floaters for jewelry, sports equipment or bicycles, fine arts, coin collections, basically any special item that is appraised and that the policyholder would want the appraisal value for in case something happened and those special items were lost, damaged or stolen. 

This doesn’t represent the whole range of home insurance add-ons but should get you thinking about some of the possible add-ons that could give you peace of mind and a bit more coverage for your home. 

Auto Insurance Policy Add-ons

When it comes to auto insurance policy add-ons, we also see a fair number of popular choices for our customers. Minor ticket forgiveness is one of the most common, as having the option of one small ticket not affecting your overall insurance rate is appealing to most drivers. With the increase of cars on the road, we see a steady increase in collisions as well. Having increased optional accident benefits could be a great way to cover yourself if you live in an area with an increased likelihood of collisions, or if you just want a bit of extra coverage. The disappearing deductible is a great option to reward your safe driving habits. In most cases, a disappearing deductible add-on will allow your deductible to slowly shrink or disappear altogether if you go a long enough period without making an insurance claim. If you’re only an occasional driver or if you drive very safely, this could be a great way to help control your insurance costs. 

We also have seen that increased liability limit is a popular insurance add-on, with some policies increasing the coverage to 2 or even 3 million dollars! This add-on can also apply to home insurance. In essence, having increased liability coverage helps with the increased likelihood of a lawsuit. We see more and more liability lawsuits being filed every year, and this could be a way to make sure your insurance can cover such a situation. 

Add-on Insurance Final Thoughts

In conclusion, insurance add-ons can be a great option for you if something in your life needs coverage that might not be afforded to you under the banner of a traditional insurance policy. At Surex, we’re proud of the add-ons that our insurance partners offer, as customer satisfaction is our number 1 concern. We know that customers who have the right insurance to cover them are the happiest. To make sure that your home or auto insurance has the correct coverage, speak with your Dedicated Insurance Advisor. They can walk you through all of the add-ons that might be relevant to your needs, and help you make a decision.