What is a "rider" in property insurance?

A rider in property insurance is defined as an endorsement that adds or amends coverage to an existing policy. This means that policyholders can customize their insurance coverage to better fit their specific needs. Riders are particularly useful for those who want to ensure that certain risks or items, which may not be covered under the standard policy, are fully addressed.

For example, a homeowner may wish to add a rider to their policy to cover valuable items such as jewelry or art, which might have limitations within the base policy. The addition of a rider allows for increased coverage limits or the inclusion of specific protections that align with the individual’s unique situation and assets.

This customization aspect is crucial for policyholders looking to protect themselves from potential gaps in their coverage, making it an essential tool in property insurance planning.