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Cincinnati, OH 45238 Get Direction
Home insurance may not be required by law in Ohio, but there are many benefits of having it. If you have a mortgage, you are required by your lender to have a minimum amount of insurance in most cases. Home insurance will cover damages to the home itself and, if your home is considered a total loss, it will cover the cost of replacing the property. It also includes damage to other structures on the property, including garages and sheds. Insurance will also protect your personal property in the home, which includes anything from furniture to clothing to electronics.
You even get some coverage when items are outside of your home, such as your laptop being insured if it is stolen while on vacation. Liability coverage is an important part of home insurance. No one wants to think about being sued, but accidents can be fairly common. If someone slips on your property or a tree falls on your neighbor’s roof, your home insurance can cover the claim and any medical fees.
One of the things you need to consider with home insurance in Ohio is whether you are going to get actual cash value or replacement costs for your personal belongings. Actual cash value considers depreciation when determining how much you get for a claim. This lowers the amount you get for that particular item. Replacement costs mean that you pay more for the policy, but it doesn’t take depreciation into account, so you get more money to replace your belongings.
There is a cap on the limits of your coverage for specific categories. If your belongings in those categories exceed the coverage amounts, you may want to purchase additional coverage, so you are covered if your home is a loss. An agent at Greater Cincinnati Insurance Services in Cincinnati, OH can help you determine these amounts.
Contact Greater Cincinnati Insurance Services, serving Cincinnati, OH, to get a quote on home insurance.