For just a few dollars a month, this coverage reimburses you for the cost of replacing items without considering depreciation. Here’s an example: You have a television that is at least five years old that is destroyed during a lightning storm. Would you rather be given a check that allows you to go out and buy a new television that is the same size and brand, or would you be ok with a check that gives you exactly what that television was actually worth today, which would be much less?
Sewer or Drain Backup:
Clogged drains and sewage lines that back up into your home can cause thousands of dollars in damage to floors, walls, furniture and electrical systems. The cleanup can also be quite expensive. For a nominal fee, you can add this coverage to your policy for sink, tub, toilet or water drain backups.
If Benji occasionally gets too excited and has accidents on the carpet, or Mr. Bigglesworth gets bored and scratches the walls, you might want pet coverage. For just $20 a year, Pet Damage provides up to $500 of coverage for damages your pet causes to your unit including carpets, walls and baseboard. Losses must exceed $500, your security deposit, or pet deposit - whichever is greater. Coverage is not available in all states.
Identity Fraud Expense:
Every two seconds someone is a victim of identity fraud. Restoring your identity can be costly and time consuming. This coverage reimburses you up to $15,000 for expenses such as attorney’s fees and loss of income as a result of time taken off work to talk with law enforcement agencies and credit agencies. A $100 deductible applies and coverage is not available in all states.
If you live in California or Washington, this coverage pays for damage to your personal property as a result of an earthquake. The benefit amount is equal to your personal property limit. The deductible is 15% of your personal property coverage. The limit for additional living expenses is $1,500 (in California) and 20% of the earthquake coverage limit of liability (in Washington).