Residents of Ohio rarely have to deal with severe weather problems such as earthquakes, or hurricanes. However, the home insurance coverage that you choose to buy for your home, property, and valuables is very important. Unless you have a mortgage, the state of Ohio doesn’t require that you buy home insurance, but it’s always a good idea to be prepared.
It is vitally important to remember that you cannot buy an insurance policy after you suffer a loss. This is why it is important to plan ahead and purchase a policy.
Comparing Ohio Home Insurance Rates
Home insurance rates in Ohio are among the lowest in the country, but it is important to shop around and obtain a quote from more than one insurance company before deciding to buy a policy.
In addition to location, some factors that affect the cost of insurance premiums include:
- Presence of an alarm system and deadbolts.
- Age of the homeowner.
- The number of claims filed in the past 10 years.
- Whether or not the occupants smoke.
- Proximity of the residence to a fire hydrant.
A general home insurance policy in Ohio may not cover all risks. Exclusions may include:
- Damage and losses incurred by those who rent your home
- Pet theft
- Boat damage
- Intentional damage
If you live in an area of Ohio that is prone to flooding, you may need to buy a separate policy from the last-resort, government-funded National Flood Insurance Program.
Steps to Take to Reduce Damage and Loss
Many events can increase your cost of insurance, but there are steps you can take to reduce the likelihood of suffering a loss. For instance, you can:
1. Use a timer on all lights. Lights that are on even if you’re not home can deter would-be burglars by making it look like someone is present in the house.
2. Check your roof regularly for loose shingles. Also, check up on the condition of downspouts and gutters. Issues in these areas can cause standing water on your roof area, increasing the likelihood of your roof weakening and even collapsing.
3. Consider purchasing a rider to cover expensive possessions, such as jewelry and antiques. Your home insurance policy only covers a certain dollar amount for your possessions, so if you have possessions whose value exceeds the policy coverage amounts, you should purchase extra coverage.
Preparing for a Disaster in Ohio
Even though there is a low instance of natural disasters and weather-related damage in Ohio, there is still the possibility of damage from hail and wind any time of the year. Standing water or snow during the winter months is also of concern. For this reason, it is important to plan ahead and determine what you and the members of your household will do in the event of an emergency and what you will do if an insurance loss occurs.
1. Keep a list of emergency contact information for friends and relatives that don’t live in your immediate area. If you need to leave home quickly, it’s important to have this contact information quickly accessible.
2. Keep a bag packed with essentials that you can use in the event of a power outage. This includes plenty of drinking water and pre-packaged food. Also include blankets and a change of clothes for each member of the family.
3. Keep your important papers in a central, secure location such as a locked filing cabinet. This will make them easy to access if you need to grab them quickly in the event of evacuation, or filing an insurance claim.
Frequently Asked Questions About Ohio Home Insurance
Here are some of the most frequently asked questions about Ohio home insurance:
1. Should buyers check in with their insurance agent if they purchase new furniture or electronics?
You should always adjust your policy coverage limits up or down to reflect your current possession values.
2. Do senior citizens receive any type of discount on monthly premiums?
In Ohio, citizens who are 55 and older are eligible to receive a discount on their insurance premium. Call your insurance company or insurance agent to see what discounts you’re eligible to receive.
3. If a guest falls in a policyholder's home, does the home insurance policy cover it?
If a guest falls in your home, any injuries or lawsuits would likely be covered under your home insurance policy – but only up to the listed coverage amounts on your policy. If the guest sues you for $500,000 and the liability limit of your policy is $300,000, then you have to pay the remaining $200,000 out of pocket.
4. Is there anything that a policyholder can do to lower the cost of the insurance policy?
There are many things you can do to reduce your premium cost. You can consider raising your deductible or adjusting your liability limits. It’s also essential to regularly shop around and get multiple quotes.
How to Get Great Rates on Ohio Home Insurance
Has it been a while since you shopped for homeowner’s insurance? Is so, loyalty doesn’t always pay because prices vary from insurer to insurer. Another company may offer you a much better deal. Looking for home or renter’s insurance quotes? insuranceQuotes.com can help you find the best homeowner’s or renter’s insurance policy at the best price. Every year, we match 15 million consumers to the nation’s biggest home insurance companies, including Allstate, State Farm and Farmers.
Ohio Home Insurance Resources
OH Department of Insurance
Consumer publications, forms and information regarding Ohio insurance