Buying a house is one of the biggest and proudest moments in our lives. It’s the next step of feeling like our life is on the right track and that were ready to settle down, start a family, focus on our careers or start a life in a new area. We get all excited about the new things we can purchase to furnish it and make it look pretty, the new mower that will give us the perfect yard, the appliances that will set off our kitchen, all the new tools and stuff to fill our new building and or garage.
Then we must start planning for the stuff that’s not so fun or interesting like paying taxes, a mortgage, and having homeowner’s insurance. The thing is when buying a home, the realtor helps you find the perfect house, the bank helps you make the best decisions for your mortgage and your insurance agent gives you the best coverage you need to protect you and that’s where Bickle Insurance Services is here to help you. We have broken down what homeowners’ insurance is and what it covers and what you might NOT know needs covered.
The big picture is you need enough coverage to:
-Rebuild your home completely in the event it’s destroyed by fire or another disaster
-Replace everything in your home
-Protect yourself (your liability) in case someone happens to get injured on your property and sues you.
Something else to think about is the “unique” risks you may have and the coverage you need to protect you. These risks include
-Special floaters for your jewelry, collectible items, and items that are expensive
-Bickle Insurance Services has an appraiser on site for you free of charge.
-Having guaranteed replacement or extended cost for the structures
-Sewer and drain back ups
-Inflation guard
-Or extending your coverage like having an “umbrella policy” to help with the liability of having a pool or other high-risk things.
Say you live in Ohio and are buying your first home. A standard homeowners policy in Ohio insures the home itself and what you keep in it. It’s pretty much a package deal, you get coverage for your property if damage would occur and it covers your liability or legal responsibility for any injuries that may occur to other people on your property that you are at fault for.
Let’s break this down!
Property protection
This is protection over the home (your dwelling), other structures as in something on the property but detached from the home (a garage, shed, driveway, pool etc.) and personal property like the contents that are in your home (the furniture, clothes, toys etc.).
Personal property coverage even extends to your belongings when you are traveling or outside of your home up to a determined value per item. You can download that checklist here to help you keep track of the belongings and itemize what you have!
Bickle Insurance Services recommends you insure your personal property for its replacement value because the longer you own something the less it is worth. This makes sure what you paid last month is what it’s still worth today.
Liability for others
This is the coverage that gives you protection against lawsuits from property damage or bodily injury that you or other members of your family cause or are at fault for. For example, Betty stops over to visit and slips on your icy side walk and breaks a hip. You didn’t shove her down or make her fall, but you failed by not cleaning your sidewalk.
If someone is injured in the home or outside on the property, the medical coverage kicks in and allows the person to submit the bills directly to your insurance company. The expenses will be paid up to the policy limit. This is where an umbrella policy is a bonus to have because if your limits are exhausted then it will kick in to cover the costs you would then be responsible for. You can learn more about Umbrella Insurance here.
Bickle Insurance Services is here to help!
Bickle Insurance wants you to know exactly what you need and why you need it so your confident that your homeowner’s insurance has you covered.
Call our office at (740) 593-7311 to learn more about your current homeowners’ insurance or if your buying a new home and how we can help you or visit our website at www.bickleinsurance.com.
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