Tips for home safety and affordable insurance
For many of us, buying a home will be the largest investment
we will make. For that reason, it’s important that
your home and its contents are protected. So what do you
need to keep in mind when looking for a policy and for keeping
a policy up-to-date? These tips can help!
How to shop for homeowner’s insurance
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Check with several insurance companies
and agents before making a final decision on a product.
On average, Ohio has the 7th lowest homeowner’s insurance
rates in the country, but the rates for different companies
can vary significantly.
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Don’t use just price to make your
decision. Seek recommendations regarding a company or agent
from family and friends.
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Explore the possibility of buying all
your insurance products from the same source. Many insurers
offer significant discounts if you purchase more than one
type of policy from the same company.
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Consider increasing your deductible to
lower your premium.
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Carefully review your policy annually
to ensure that it’s still current and up to date.
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Don’t over-insure.
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Consider a guaranteed replacement cost
policy.
Losses that are covered in a standard homeowner’s
insurance policy
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Fire
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Lightning
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Storm damage
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Tornadoes/Windstorms/Hail
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Burglary/theft
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Injures that occur to others inside your
home and on the insured property (falls, pet bites, etc).
Losses NOT covered in a standard homeowner’s
insurance policy
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Floods
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Earthquakes
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Termites or pest infestation
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Boat theft/damage
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Car theft/damage
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Pet injury/theft
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Injuries that occur to yourself or your
family in your home (falls, pet bites, etc.)
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Items damaged by you or a family member
Once you have homeowner’s insurance
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Add insurance coverage as you enhance the
value of your home and acquire expensive possessions, such
as furniture, computers, stereos and televisions.
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Avoid filing small claims, which can end
up marking you a high-risk and result in higher future
premiums or a canceled policy.
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In maintaining your residence, realize
that you are liable for things that happen on your premises.
Keep in mind that in Ohio you can be held legally responsible
for the actions of anyone who drinks in your home and then
has an accident in your house or after leaving it. Your
policy should protect you against lawsuits due to these
types of liability issues.
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Backyard items, such as a trampoline or
pool, may require you to increase your liability coverage
in your homeowner’s policy or through an umbrella
policy that protects you in the event that someone is injured
while on your property.
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As you acquire more valuables — jewelry,
family heirlooms, antiques, art — consider purchasing
an additional “floater” or “rider” to
your policy to cover these special items. The coverage
provided by a basic homeowner’s or renter’s
policy is limited by sub-limits inside the policy limits.
For example, you could have $20,000 of coverage for personal
property but only $2,000 of coverage for jewelry.
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It’s a good idea to make an inventory
of all of your personal property, along with a photograph
or video of each room. Also, save your receipts for major
items and keep them in a safe place away from your house.
That will make it easier if you ever need to file a claim.
Smart ways to prevent claims and keep your home
safe
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Prevent water damage by regularly checking
your roof, down spouts, water pipes and sprinkler system
for clogs or leaks.
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Repair loose or broken posts and check
all safety latches on fences, especially around pool areas.
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Discourage break-ins by using exterior
lights at night and installing deadbolts on all doors.
Be sure to close lower-level windows when not at home and
before going to bed.
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Turn off the propane gas when you are
finished grilling.
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Use timers on inside and outside lights,
especially when on vacation.
What if I have a problem with the insurance agent
or the company?
Call the Ohio Department of Insurance at 1-800-686-1526.
The Department regulates agents and companies that are licensed
to sell insurance in Ohio. The Department’s Consumer
Services representatives can answer your insurance questions
and investigate your complaints about an insurance company
or agent.
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