Once you are ready to buy a condo, don’t forget about condo insurance in Cincinnati, OH. There are certain myths that you should believe when it comes to condo insurance. Follow along and learn more about the myths around condo insurance.
Myth 1: You don’t need to buy your own coverage since your association has it.
The condo association’s insurance policy isn’t designed to protect you. It will only cover damage to the common areas and the building, so you will need a separate policy to protect yourself.
Myth 2: Condo insurance only protects your belongings.
While protecting your belongings is an integral part of condo insurance, it’s not the only thing it does. Condo insurance will also cover liability claims and additional living expenses. Condo insurance may also include any improvements you make to the interior of the unit. It may also provide extra protection that you will need if the condo association doesn’t have adequate coverage to repair any damage in your unit.
Myth 3: Condo insurance will cover water damage.
Not every type of water damage is going to be covered under a policy. Coverage caused by overland water and sewer backups isn’t usually included in a condo insurance policy, but it may be available as an added coverage option. An agent at Greater Cincinnati Insurance Services can help you with water damage coverage.
Myth 4: Condo insurance will protect everything in the unit.
Not all your belongings will be covered if the total value is over the limit. Jewelry, watches, gems, or furs may add up to a higher amount than the ceiling, and you will need to add some extra coverage for these items.
Myth 5: Your condo will be rebuilt exactly as it was.
If you have made changes to your condo, such as renovating the kitchen or adding in some hardwood flooring, you will need to tell your insurance agent to make sure you have the right coverage for these added items.
Contact Greater Cincinnati Insurance Services in Cincinnati, OH, serving Ohio, Kentucky, and Tennessee, to acquire a quote on condo insurance.
When your college student visits for the holidays or summer break, it is a time to enjoy their company and to maybe even give in to nostalgia for the days when they lived at home. Remember though that there may be some considerations to keep in mind if they are driving your car during their visit home. At Greater Cincinnati Insurance Services, we serve families in and around Cincinnati, OH with quality insurance for any circumstance.
Insurance Considerations For Your Adult Child Who Drives Your Car
A lot of people allow their adult children to continue to stay on their insurance for a while, as long as your child’s primary official residence is your address, even if they live at college most of the time, this is fine. In fact, it can save your child money as your premiums are likely lower than theirs. However, if you do not already have your child on your insurance for whatever reason, here is what you need to know for when they visit and drive your car. First, if your adult child has their own insurance policy, it should have third-party coverage which will protect them while they drive your car. Be sure the check the specifics of their actual policy to be sure they are protected though. If they do not have their own coverage, you should know that typically your car is insured, not the driver. However, if you give someone permission to drive your car and they get into a wreck, you are liable for their actions behind the wheel, and this could affect your insurance rates if they are in an accident. So in short, you will be protected as if it was you driving but also liable.
Contact us at Greater Cincinnati Insurance Services to find out more about additional people driving your car and the insurance ramifications. We serve Cincinnati, OH and the surrounding areas including Kentucky and Tennessee.
Many singles feel life insurance is an unnecessary expense at this stage of their life. Life insurance, however, can provide singles with financial security to help loved ones after they’re gone. If you’re single, here are a few ways that a life policy from Greater Cincinnati Insurance Services in Cincinnati, OH can benefit you and those you love.
Pay Off Outstanding Debts
If you’ve recently graduated from college, you may have outstanding student loans to pay off. In fact, your parent or another family member may have even co-signed for these loans, enabling you to complete your education. If you were to pass on suddenly, these co-signers could be held responsible for these debts, putting them under financial pressure. Life insurance can help pay off outstanding debts to include student loans, home loans, etc., so others don’t have to assume this responsibility.
Support Loved Ones in Need
If you’re supporting aging parents in retirement or providing financial aid to a younger sibling to get through college, your sudden demise could put your family in a financial bind. With a life insurance policy, you don’t have to worry about your family’s financial future after you’re gone. You can designate that benefits are distributed among family members you’re supporting so they can continue to receive the financial help they need to carry on.
Pay Funeral Costs
Few young people today make arrangements for funeral expenses in advance, although this can be a costly matter. Life insurance benefits can go towards paying funeral expenses in the event of your untimely demise. This alleviates your loved ones from this financial burden at the same time they’re trying to cope with your loss.
For help selecting a life insurance policy or to learn more about policy options and costs, contact us at Greater Cincinnati Insurance Services in Cincinnati, OH.
Home insurance covers a lot in Cincinnati, OH, including some surprising things, but there are some items and events it won’t cover and for a good reason. An agent at Greater Cincinnati Insurance Services can help explain what is covered and not covered under a specific policy.
What is Excluded?
Not everything can be covered, and insurers have exclusions listed so they can stay away from covering various risks that they are not able to guarantee. Some risks aren’t insurable because they could affect many policyholders at once. An example of this would be war. If too many policyholders have the same claim, then the insurance company could not pay out. Some things are excluded from a policy because they are insured under another policy. For example, cars aren’t covered under a home insurance policy because there is separate auto coverage available. Some other risks can be excluded because the policyholder can control them. This could be things like damage to personal property that is caused by snow, ice, or rain.
A policyholder can take action to prevent their belongings from being damaged in these instances. Some risks shouldn’t be insured because they occur naturally. An example would be wear and tear. With proper maintenance, it’s possible to lower some of the wear and tear on items. Losses that are due to illegal activity won’t be covered. Insurance policies also won’t include events that are not accidental. The liability coverage of homeowners insurance won’t pay for any injuries that are inflicted on a third party on purpose. If this were the case, there would be plenty of claims and intentional harm. Some things are excluded from a normal home insurance policy but can be insured for an extra cost. Homes with pools, trampolines, or other risky items can get insurance at much higher premiums.
Contact Greater Cincinnati Insurance Services, serving Cincinnati, OH, to get a quote on home insurance.