Most companies allow six endorsements or supplemental coverages to meet their customers' needs. Name and describe the six. Which one is unique and stands apart from the others?
What will be an ideal response?
Answer:
-Personal articles floaters provide additional and extended coverage for all personal property. It is especially meant for expensive items and collections.
-Earthquake coverage is available in any state and is recommended for earthquake areas.
-Flood protection covers flood, mudslide, and some water erosion damage
-Inflation guard automatically updates your amount of coverage based on an index.
-Personal property replacement cost pays for a new item and not for a used one.
-Added liability protects you from judgments and lawsuits in excess of $100,000. It is also available for business and professional use of the home
The flood protection is unique in that it is generally administered and subsidized by the federal government. A community must apply and be approved by the Department of Housing and Urban Development. At that point insurers can offer the coverage with limits of $250,000 on dwellings and an additional $100,000 on contents.
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