What Is Available Through Homeowner Insurance?

Posted By : Aubrey Mead , on Mar, 2017

 

In Ohio, property owners will need to purchase homeowner’s insurance for their home. These policies provide adequate coverage for the unforeseen. These policies provide payment for necessary repairs and property replacements based on the terms of the policy. The following is what is available through Homeowner Insurance.

Protection for the Property Itself

The insurance coverage provides a replacement value if the property is a total loss. The event that caused the destruction of the property must be among the covered events specified in the policy. These events are often fires, natural disasters, storms, and major water leaks. Criminal acts that weren’t the fault of the property owner are also included in these events. However, a full inspection of the property is necessary to determine the exact cause.

Protection for the Owner’s Belongings

The property owner acquires a certain level of funds for any personal belongings that were damaged. Typically, the insurance policy provides a predetermined cap for these funds. However, the owner can acquire a rider to apply to certain items of higher than average value. These riders provide coverage based on the appraised value of the item. If it is lost, stolen, or damaged, the policy will replace it or provide the owner with the cash value.

Coverage for Lost Groceries

During serious storms and natural disasters, power outages are possible. When these outages are extensive, it is more likely that the property owner will lose their groceries stored inside the freezer and refrigerator. The policy will provide them with replacement groceries.

Temporary Housing Funds

Temporary housing funds are available if the owner is displaced from their property. They provide coverage for hotel fees and food. If the owner loses their home altogether, these funds may pay for a temporary apartment until the owner acquires a new home.

In Ohio, property owners need adequate coverage to protect their assets. Homeowner’s insurance provides adequate coverage for the property, connecting fixtures, and their personal belongings. The policy also provides a few extras to cover additional financial losses. Property owners who need to review Homeowner Insurance can contact an agent or visit schlatherinsurance.com today.

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