Ask Your Agent Series, Part 4: What is the Spartan Enhanced Coverage Package?

Ask Your Agent Series, Part 4: What is the Spartan Enhanced Coverage Package?

Welcome to the continuation of our latest article series from Olympus Insurance. We’re focusing on questions policyholders should be planning to ask their insurance agents, and that agents should be prepared to answer.

Our fourth topic is enhanced coverage. Olympus Insurance is unique in offering a broad endorsement known as the Spartan Enhanced Coverage Package, which supplies many additional protections for your home and personal property. Here’s what Florida homeowners need to know.

What are endorsements?

Endorsements are amendments or additions to an existing insurance contract which can be attached to a main homeowners HO3 insurance policy for a small additional premium. Endorsements can provide specific coverage for scheduled personal property items, such as fine art, musical instruments, or electronics, or for circumstances not typically covered by a standard policy, such as water damage caused by a broken sump pump or backed up sewer mains.

What is the Spartan Enhanced Coverage Package?

The Spartan Enhanced Coverage Package, available as a unique endorsement only for Olympus policyholders, provides additional protections and coverages, including:

Personal property

Your protection for personal property is expanded to special perils, with increased limits and replacement cost coverage. You’ll also gain $10,000 in coverage for equipment kept at your residence for business use.

Equipment breakdown

If power surges off-premises (due to power system surges or lightning strike), covered equipment is protected in case of damage caused by the surge.

Loss of use

If power is stopped, you can receive reimbursement in case of loss of use of your residence. Your refrigerated property is also protected against loss due to power stoppage.

Water damage

Olympus Insurance already provides one of the broadest water damage coverage in the Florida market. With Spartan, you also gain coverage for damages caused by water backup in sewers, drains or sump pumps, with a nominal $250 deductible.

Personal liability

Your personal and medical liability coverage and limits will also be increased, including:

• Personal liability coverage limits raised to $500,000
• Medical payment coverage limits raised to $5,000
• Extension of personal liability coverage to include personal injury liability
• Increased coverage limit of $1,000 for damage to property of others 

Fraud protection

Spartan also provides reimbursement for expenses incurred due to identify fraud, and coverage up to $10,000 for theft or unauthorized use of credit card or fund transfer card as well as situations that involve forgery or acceptance of counterfeit money.

All of these protections can be obtained for a minuscule increase in your annual Olympus policy premium. Interested in the Spartan Enhanced Coverage Package? Ask your agent about Spartan today.

This article is for informational purposes only and does not form a part of, replace, change or amend any terms, conditions, provisions or language within your Olympus Insurance policy. We encourage you to read your entire policy.