Extended coverage is a term used by brokers and insurance companies to denote coverage that goes beyond the basic policy. All basic insurance policies have exclusions, or specific losses or reasons for losses that are not covered by the insurance policy. However, an Extended Coverage (EC) policy covers these exclusions.
Oftentimes we feel that we are fully covered because we carry many types of insurance, but how many of us truly read the fine print. While a person who lives far from the coast would think that basic insurance that includes hurricane provisions would be enough, they might be surprised to learn that damage from flash flooding away from the shore due to the rainfall associated with a hurricane may not be covered.
Types of extended coverage include:
– Flood insurance, including floods caused by hurricanes which are usually not covered
– Hailstorm insurance unless hail is explicitly covered by the basic policy
– Earthquake insurance
– Extended Title insurance, because there are many things not covered by basic title policies
– Extended medical insurance for illnesses and lengths of stay not...
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