Remarkable Insurance offers homeowners insurance to those in Ohio, one of the most critical insurance policies you can purchase. Your home is most likely your largest investment and having the best possible coverage is vital.
What does homeowners insurance in Ohio cover? The state of Ohio provides a complete guide to help citizens.
What is Peril?
The insurance industry uses the word “peril” to describe anything that could happen to your home that causes damage. There are two types of policies. One is the “The Board Form” – it covers every peril listed in the policy. The other type is “The Special Form” – it lists the perils that it does not cover. This form, known as HO-3, is the most common form of homeowners insurance written today.
Don’t be Underinsured
According to the insurance professionals at Remarkable Insurance, don’t be underinsured. Some homeowners who own their homes outright make the mistake of underestimating the value of their home. Should their home be insured for less than 80 percent of its value, they will learn the sad lesson that the insurance coverage won’t cover the cost of repairs.
Another critical area of coverage is liability. Homeowners insurance automatically includes basic liability. It provides protection when someone is injured on your property.
Personal Property Coverage
Many homeowners don’t realize how much their personal property (also known as contents) will cost to replace in the event of a total loss. They are shocked when they begin an inventory list.
Homeowners insurance typically will cover up to 50 percent of the insured value of their home.
Did you know? Ohio is home to over 4,000 abandoned coal mines. Residents who live in a mandatory Mine Subsidence Coverage county have this coverage automatically added to their homeowners’ policies.
If you live in Ohio and own a home, call or visit Remarkable Insurance to ensure that your homeowner's insurance provides the coverage you’d need in the event of a catastrophic loss. Our agents can provide you with the information you need to get started.