Home Insurance in Ohio

Reasons You Need Home Insurance in Ohio

There are a few reasons to get your home insured in Westerville, OH or anywhere else in the state. You may be required by the bank to have insurance for the amount of the loan. Many insurance policies will require you to insure the home for 80% of its value. If you only have less than 80% coverage, then you will have to pay more out of pocket. Home insurance will also give you financial protection if your home is damaged, or if you get sued due to property damage or bodily injury caused to others.

Personal liability coverage is included with home insurance and will protect you against a lawsuit or claim for property damage and bodily injury caused by your negligence. Insurance will cover you and family members. Your insurance also covers personal property claims. These are the tangible assets that are in your home and belong to you and family members. The limit is usually 50% of the home’s insured value.

There are two different ways that policies can pay for this type of damage. Actual cash value will pay the current replacement cost, minus any depreciation. Replacement cost coverage will cover the cost of your belongings at today’s prices. Note that there are a few things home insurance won’t cover, including floods and earthquakes. Check with an agent at Associated Insurance Agencies, Inc. to see what your policy covers and doesn’t.

Things to Keep in Mind for Home Insurance in Ohio

There are a few different things that can affect your premium. The type of construction, the age of the home, the local fire protection, deductible, credit history, and credit score can all play a factor. If you have pools, trampolines, dangerous dogs, or other high-risk items in your home, you might want to consider some additional coverage, so you are protected in the event of any lawsuits that may arise.

Contact Associated Insurance Agencies, Inc., serving Westerville, OH and the entire state of Ohio, to get a quote on home insurance.