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Can You Customize Your HO3 Policy?

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Your standard homeowners insurance (HO3) policy should only be the starting point when you think about comprehensive coverage for your home. While a standard policy may be exactly what is required for some Florida homeowners, for others, a policy with some customization can offer more coverage and extra flexibility in regard to annual premiums and potential out of pocket costs.


One of the most common types of customization for an HO3 policy is the addition of an endorsement, which is a rider that customizes certain portions of the policy. The endorsement causes a slight increase in the policyholder’s annual premium, in exchange for providing additional coverage. Olympus offers two different types of endorsements:

Scheduled Personal Property Coverage

One of the most common reasons for an endorsement is ownership of valuable items which would cost more to replace than the limits of the HO3 policy allow. Scheduled personal property coverage allows these items to be valuated, listed, and covered in full. A small increase in premium is applied, which varies based on the total value of all items scheduled under the endorsement. New items which are similar to already scheduled items are automatically covered for 90 days to give policyholders time to have them valuated and officially added to their coverage.

Spartan Enhanced Coverage

For those with many luxury items and higher risks who want even more comprehensive coverage, Spartan Enhanced Coverage is available to policyholders exclusively from Olympus. This endorsement option removes the need to individually list valuables, instead simply increasing coverage limits across the board. Additional coverage for events like sewer backup, fire services fees, and other circumstances not normally covered by an HO3 policy are also included.

Deductibles and Premiums

Another area of your policy which can easily be tailored to your needs are hurricane and All Other Peril (AOP) deductibles. Florida hurricane deductibles are typically set at 2% of the covered value of the home – meaning a $450,000 home would have a hurricane deductible of $9,000, which must be paid before the insurance coverage kicks in. Olympus offers low, flat rate $500 and $1,000 hurricane deductibles, in exchange for a slightly higher annual premium. AOP deductibles can also be adjusted down, again resulting in a higher premium, or up, to help lower annual costs.


Finally, certain types of home construction or security measures can also lower annual premiums. A hip roof, a good security system, or child-proof fencing around your pool can all potentially qualify you for a homeowners insurance discount. Ask your agent how customizable your HO3 policy is, and where you can make changes to gain better coverage, lower deductibles, or discounted premiums.

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.

Olympus Insurance is licensed by the state of Florida. Information found on this site is intended for Florida residents only.