Who should have a home insurance plan in place in Ohio?

The Westerville, OH area has continued to be a great place to own a home. If you purchase a property here, you will want it to be a place that you can enjoy for a long time. One of the ways that you can protect this asset is by getting a home insurance plan. There are various situations in which someone should have home coverage here. 

When Looking to Protect Assets

A situation when someone will want home insurance is when they want to protect their assets. A proper home insurance plan can cover your dwelling and any personal belongings up to the policy limits. This will help protect against various risks, including bad weather damage, fire, theft, or vandalism. If you own valuable collectibles, they can be separately insured by a rider to the plan. 

When Trying to Mitigate Liability Risk

Another scenario in which you should get home insurance is when you want to offset your liability risk. If you are going to own a home, there will always be a risk that an accident could occur that you will be responsible for. If you have proper insurance in place, you will be able to mitigate this coverage with liability insurance. 

Having a home insurance plan should be a top priority for anyone in Westerville, OH. As you are evaluating your options, you may find that you have questions about this type of coverage. To ensure that your questions are adequately answered, it would be a good idea for you to call Associated Insurance Agencies Inc. The team with Associated Insurance Agencies Inc. understands the value of this coverage and will help someone build a plan that is right for their situation. 

When should you update your home insurance

When you buy a home one of the first things you do is to buy a home insurance policy. Your mortgage holder is going to insist on proof before they loan you the money. Most home policies renew yearly and your insurance company will send you a declaration page. This is your policy in a nutshell and it holds valuable information that you should look over carefully. If you live in or near Westerville, OH and are looking for a locally owned and operated independent agency, Associated Insurance Agencies Inc. has a knowledgeable team to answer your questions. 

You should update your home insurance any time there is a change in your home or your financial situation. You should review your policy yearly when you get your new declaration page. 

Your income goes up

You might wonder why a raise in your income would affect your home insurance but part of your home insurance coverage is liability insurance. This protects your assets in the event you are sued. If you make more money you are a larger target and your liability coverage should rise accordingly. 

Major repair or updates

If you do major home repairs that increase the value of your home, you should update the replacement value of your home. Things such as a new kitchen, bathroom, siding, or central air conditioning can add considerable value. 

When you add safety equipment

Adding a home security system or smoke detectors is something that you should let your insurance company know about. It can lower your premium. 

Having valuables

The coverage on most home policies is quite limited and if you have expensive electronics, art, antiques, or jewelry you should consider adding additional coverage to your personal property coverage. 

At Associated Insurance Agencies Inc. in Westerville, OH we suggest a yearly policy review. If you haven’t reviewed your policy in a while, you are overdue. Give us a call or stop by our office and let us review your policy. 

Home Insurance Facts Every New Homeowner Should Know

As a new homeowner, you may not be aware of the importance of home insurance in protecting your new investment. The right home coverage from Associated Insurance Agencies Inc. can save you a substantial amount of money in the event of a disaster. Here are some important home insurance facts every new homeowner in Westerville, OH should know.

  • Home insurance covers damage or destruction of your home, theft, or loss of personal effects and liability issues that may arise when people have accidents on your property. This protects you from having to pay for damages or liability claims out of pocket.
  • If you have a mortgage on your new Westerville OH home, your lender will probably require you to have home coverage. Otherwise, home insurance is optional. Wise homeowners, however, will take advantage of home coverage to protect their property.
  • Home insurance coverage and costs may vary depending on your insurance company. By shopping around and comparing what different insurers have to offer, you can obtain a good deal on your coverage.
  • Factors like the age of your home, home type, home condition, and location can affect your premium costs. Working with a reputable insurer in Westerville OH will make it easier to make wise home insurance choices. You’ll also benefit from quality services and home coverage.
  • Standard homeowner’s insurance covers a wide range of perils to include theft, fire, water damage from broken pipes, rain, wind and hailstorm damage, lightning strikes, hurricanes, tornadoes, and vandalism.
  • Home insurance DOESN’T, however, cover damage caused by flooding. To protect your home from flood damage, you need to purchase a separate flood policy.

To learn more about home insurance or to purchase a home policy, contact your insurance experts at Associated Insurance Agencies Inc., serving residents in Westerville, OH, and surrounding communities.

3 Reasons to Update Your Homeowner’s Insurance

Changes in your Westerville, OH home or lifestyle over the last year could require an update in your policy to maintain the coverage you desire. By reviewing your policy with an agent from Associated Insurance Agencies, you won’t be caught unprepared when it’s time to make a claim. Here are a few reasons why you may need to update your coverage.

Home Renovations

If you made major improvements to your home in the last year, you’d need to update your policy to add them to your coverage. If your home improvements substantially raise the value of your property, you may need to increase your dwelling insurance to compensate for the rise in home value. This change also requires that you update your policy.  

Expensive Gifts

You may have received costly gifts during the holidays, such as elegant jewelry or high-end electronics that require insurance protection. Depending on the value of your goods, you may need to raise the limits of your property coverage or obtain an insurance rider to protect these items from theft or damage in an unforeseen disaster.   

Home Systems/Security Upgrades

Upgrades in your home’s electrical or plumbing system that reduce the risk of fire or water damage could qualify you for a discount on your home insurance. By updating your policy to reflect these upgrades, you could save money on your premium. In like manner, adding a new security system to your home could make you eligible for a home insurance discount as it reduces your risk of theft.

By discussing lifestyle or home changes with an agent from Associated Insurance Agencies in Westerville, OH, you can get a better idea if you need to update your homeowner’s insurance. Call or visit us today for all your home insurance needs.

Homeowners Insurance – How Much Do You Need

Your home is where you feel safest, and if anything devastating were to happen, you’d want your insurance to cover the damage quickly. So, don’t make the mistake of getting too little insurance when buying your home. If you’re in Westerville, OH, the friendly staff at Associated Insurance Agencies Inc. will help you decide what type of insurance would help cover your home.

How To Determine What You Need

Homeowners insurance is for protection for you just in case the worst happens. You’ll need to get enough insurance to cover the cost to replace your home if your home is destroyed. Several factors determine the replacement cost. The first is the cost that you paid versus how much your home is worth. If you’ve remodeled your home, the insurance company will take that into consideration. If you’ve added rooms or built a deck, this will be taken into account. You will also need to take a look around and determine how much your personal belongings are worth. 

Additional Things to Consider

You may also need to get additional living expenses if your house is unlivable after a disaster. If you run a business from your home or had renters, homeowners’ insurance may reimburse you for your lost income.

Liability coverage can range from $100,000 to $300,000, but lawsuits can quickly rise above that cost. If you have a pool, dog, or children, you may want to add extra liability coverage to protect you if someone is injured due to any of these items.

How to Prepare for Insurance

First, take photos of your items and videotape any new or remodeled spaces. Next, stop in the offices at Associated Insurance Agencies Inc. in Westerville, OH. The independent agents will help you with your homeowners’ insurance policy and find you a quote.

What Affects Home Insurance Premiums?

What Affects my Home?

Several things can affect your home insurance premiums in Westerville, OH, and an agent at Associated Insurance Agencies, Inc. can help you make sure you are getting adequate coverage for your home.

  • Age of Home and Materials: As your home and roof age, the structure is more susceptible to damage. This causes the replacement costs to go up over time, which can increase your premium.
  • Trampolines and Pools: These and other attractive nuisances, as they are called, are fun things to have, but they can also cause premiums to increase. You are liable for injuries people have while using them, whether or not you permitted them to do so.
  • Certain Dogs: Certain dog breeds will raise premiums or make it even more challenging to get insurance. Dog bites can account for one-third of all insurance claims.
  • Previous Claims: If you have more claims made over time, then you are considered more of a risk, and it can lead to higher premiums. With too many claims, you run the risk of not having your policy renewed.
  • Home Security: A home security system can reduce your premium because it adds an extra layer of protection for the home and your belongings. Another thing that adds additional security is by replacing old locks with deadbolts.
  • Credit History: Insurance companies can use your credit history to determine your insurance score, which can affect your premium. Some of the items they look at include outstanding debt, credit history length, payment history, and credit mix.
  • Home Remodeling: Remodeling, whether it’s a bathroom or kitchen, is likely to raise the value of your home, which means this should be reflected in the policy. Materials and construction costs need to be taken into consideration, which could increase premiums.

Contact Associated Insurance Agencies, Inc. serving Westerville, OH, to get a quote on home insurance.