Protecting Your Home in Ohio

If you need to insure a home in Ohio, we have good news-Ohio is the fifth-cheapest state in the U.S. for homeowners insurance according to the Insurance Information Institute. Ohio doesn't experience much severe weather, which is why its premiums are so low. With such affordable premiums, residents have no excuse not to insure their homes adequately. After all, your home is most likely the largest investment you'll ever make, and a homeowners insurance policy is a way of protecting that investment. Read on to learn more about policies and the claims-filing process.

Included Elements

Before you purchase a plan, it's important to understand what is included in a standard policy. Knowing what your plan does and does not cover will help you determine the right policy and amount of protection for your needs. Here is a breakdown of the standard aspects of a plan:

• Property. The actual building in which you live will be insured by the dwelling coverage portion of your plan. This protection should amount to at least 80% of the estimated full replacement cost of your home.
• Personal property. The coverage that protects the items you keep in your home. In some cases, personal property may extend to items stored in your vehicle or your child's college dorm room, for example.
• Liability. If you or a member of your household damages someone else's property or injures someone, the liability portion of your plan will pay for your legal defense and any damages in the event you are found legally responsible.

Filing a Claim

Before you file a claim against your plan, you should consider whether the increase in premiums is worth the immediate benefit. For example, if a window in your home shatters and results in $600 worth of damage, filing would probably not be the best decision in the long run. Assuming you have a $500 deductible, the amount you received would only be $100. With that small of an amount at stake, it's best to just pay for the loss out of pocket. By doing so, you'll keep your premiums low and your filing history clear.

When you experience a loss and have decided to file, you should report the loss to your carrier as soon as possible. Your provider should have a 24-hour number that you can call to initiate the process. The sooner you report the loss, the faster your inquiry will be processed. Most likely, your insurer will send you paperwork to complete and send an adjuster to your home to evaluate the damage. If your home is uninhabitable during this time, keep records of all of your living expenses, such as food, lodging, etc., so your provider can reimburse you.