Some homeowners may never have an insurance claim. But the odds suggest a different outcome. So it’s essential to have the right coverages in place. According to the Insurance Information Institute, about one in 20 homes has a claim against its home insurance policy each year.

Viewed another way, homeowners can expect a claim once every 20 years, on average. Could you have a claim this year? There’s no way to know. The insurance choices you make today could protect you as soon as this afternoon, or you might be fortunate enough to avoid a loss for decades.

The wisest choice is to prepare with the right coverages, and today’s policies offer more ways to personalize your protection. A trusted insurance professional can guide you through your options.

Customizing Coverage for Your Home

We often think of home insurance as protection for the home itself. And that’s accurate. Fire and lightning claims are the most costly, on average, with wind and hail claims being the most frequent type of claims.

But home insurance protects much more than just your house. For many households, the best strategy is to bolster home insurance coverage with customized options or expand protection with a package that addresses wider risks.

With the right coverage choices, you can protect not just your home, but also your belongings and even your lifestyle.

Coverages for Specific Risks

Think of a standard home insurance policy as a foundation. From a strong foundation, you can build up and out, customizing your coverage to suit your needs and priorities.

You may not need coverage for every situation, and if insurance covered everything, a policy would be unaffordable for most families.

Instead, you can personalize your protection to cover the risks specific to your lifestyle. The categories below all represent risks for which a standard home policy may only provide limited coverage (or no coverage at all).

Fortunately, you have options. An experienced insurance professional can help pinpoint potential concerns and recommend solutions to build an insurance package suited to your unique needs.

Jewelry and Valuables

The average cost of a diamond wedding ring approaches $6,000. However, a standard home insurance policy often limits jewelry coverage to $1,500 and limits claims to specific risks called “named perils.”

In addition, standard coverage for jewelry often comes with a $1,000 deductible.

Doing the math, a covered loss for a $6,000 ring could result in a $1,500 claim payout.

If you have valuables, consider getting a personal articles floater. With this type of add-on, you can protect specific items for their full value and enjoy protection against a wider range of risks.