Before buying home insurance, one must always know the basic details. While the cost of home insurance might be many people’s primary concern, the most important is, however, the coverages. Ohio home insurance covers you and your home against situations like theft, or any adversities that cause you financial losses. But everyone’s home is different, and so are belongings.
Here are two sections regarding the coverages – basic and optional. Note that depending on various packages, the categories may change.
Basic Ohio Home Insurance
Dwelling Coverage: Dwelling coverage covers repairing or rebuilding your home after it is damaged by dangers like a fire. It covers all the attached structures of your home – garages, porch, or other in-built structures.
Contents: Contents coverage covers your personal properties which are not attached to your homes like furniture and other similar items.
Personal liability: Personal liability coverage might provide you protection against lawsuits due to the accident, bodily injury, or property damage.
Medical payments to others: If anyone on your property is injured in an accident, they will get medical support or funeral expenses. It doesn’t matter who is at fault, your guest’s injuries will receive support.
Ordinance or law insurance: With this coverage, you might be able to rebuild a part of your home according to the most up-to-date code of building. It will cover the extra cost you will have to pay in order to build your house according to recent building codes.
Other structures: Structures that are not attached or inside like a shed, fence, barn, etc.
Loss of use: If your home damage is severe, it might become uninhabitable until it is rebuilt, and in the meantime, Loss of use coverage will cover your living expenses, if you live in hotels or other places that require costs.
Credit card coverage: Credit Card coverage protects unauthorized transactions on your credit cards or bank cards in case of loss, or theft.
Optional Ohio Home Insurance
Identity theft: A basic house insurance policy doesn’t cover identity theft issues. But identity theft issues are rising extremely fast. Identify theft can occur when your name, address, credit card information, bank account information, social security numbers, health insurance information. Choosing this insurance may cover any company person’s good faith advertising.
Valuables Plus: If you have any valuable possessions like jewellery, limited edition watches, antiques, fine art, etc, Valuable Plus provides you additional protection.
Replacement cost plus: With Replacement Cost Plus, you can increase the coverage value on the insured property but will have a limit on the percentage.
Water backup: Many situations like a blockage in city pipelines, damaged sewers or drains, tree root growth can cause water to overflow in your home. Water backup home insurance coverage includes payment support for water removal, construction materials, and labour, replacements, etc.
Earthquake: Home insurance policies in America don’t include earthquake damages in their standard Ohio home insurance policy; you can, however, buy a separate additional policy if you live in a high-risk area. This covers insurance for your structure, personal belongings, loss of use, etc. It is often believed that California is at high risk from earthquakes, but there are other states that can come under the earthquake zone.
Flood insurance: Flooding can be caused by various natural calamities like rain, ice melting, coastal storm, blocked drainage, etc. This insurance will cover your home structure, household contents, loss due to short-circuit as a result of flooding, or fire breakout.
Here’s what’s not included in a home insurance policy
Car coverage:Home insurance policy may include structures like a garage, whether attached or not, but it does not cover car or vehicle damage. But some plans may cover your car’s damage or loss.
Home insurance policy coverage is different depending on companies or agencies, and hence it is important to go thoroughly through the policy before you buy your home insurance. If you are doubtful about anything, you can take guidance from your insurance agent.
However, if you want other aspects of your home or belongings to be covered by an insurance policy, that are not covered under Ohio home insurance, you can always buy additional coverage’s.
The cost of your home insurance might vary depending on the location, the age of your house, construction materials, etc.
Oyer Insurance Agency specializes in home insurance and has the experience to maximize coverage while saving insurance time and money. If you live in Ohio, call Marlin or Trent today for a quote.