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Homeowners Insurance

Purchasing a home is perhaps the single largest investment most people make in their life. It's no surprise, then, that you want to have your home correctly insured in the event of a loss. Your mortgage company wants to make sure it's interest in your home is protected, but you want to make sure your family has what it needs to survive if something happens to your home. Homeowners insurance provides just that. If your home is correctly insured for it's replacement cost, you will receive money from the insurance company to rebuild in the event of a loss. The policy may also provide money for your family to temporarily relocate, as well as replace any personal belongings which were lost or damaged in the loss.

With current homeowners premiums increasing at an alarming rate, many people are wondering what they can do to reduce their homeowner premiums. Although you never want to underinsure your home, there are several things you can do to make sure you're getting the best rate possible:
  • Many property insurers today use credit scoring as a determining factor in your rate. Keep current on your bills and check your credit report annually for any discrepencies or innacurracies.
  • Current homeowners are seeing their coverage cancelled for two or three small claims in a 3 year period. The dollar amount of these claims is not important, it is the frequency that insurance companies are concerned with. Homeowners insurance is not to be used for "routine maintenance" of your home, you want to make sure in the event of a large loss, you have the best coverage you can. If you're current carrier cancels your coverage due to claims, you may have to insure your home through the State of Ohio's Fair Plan.
  • Higher deductibles mean lower premiums. Although you would pay a little more out of pocket, since you don't want to turn in too many small claims, you may consider raising your homeowners deductible to $500 or even $1,000.

For further information, or to receive a free homeowners quote, please refer to the links below, or contact one of our agents.