At Smucker Insurance Agency Inc., one of the questions we get from our Plain City, OH clients are: do I really need renters insurance? Am I not covered by the landlord’s policy? In this article, we will delve into renters insurance and establish who needs it.
Who should get renters insurance?
While renters insurance isn’t mandatory in Ohio, some landlords may still want you to carry one before renting their property. This way, the landlord isn’t liable for renters’ responsibilities. If your landlord requires you to obtain renters insurance, they probably have minimum coverage requirements. However, remember, these are just minimums. You need to check with your agent if the coverage gives you maximum protection.
Even though your landlord doesn’t require you to carry renters insurance, it’s a smart choice to purchase one for the below reasons.
- Liability coverage: Every renter is exposed to a certain level of liabilities. Ranging from a neighbor’s property damage to causing bodily injury to a third party, renters are often faced with the risk of liabilities. Thankfully, renters insurance covers liabilities, which can be financially draining.
- Personal belongings’ protection: Do you own furniture? Or perhaps you have electronics and other equipment? Theft, fire, and vandalism can cause unspeakable loss or damage to your assets. But instead of starting from scratch when a loss occurs, renters insurance can compensate you for the loss up to your coverage limit.
- Loss of use: If your home is damaged and is unlivable, you will probably seek temporary housing in a hotel. In the process, you will incur accommodation and meal expenses. And because you hadn’t planned for these expenses, they can destabilize your financial position. Thankfully, renters insurance can save the day by compensating you for additional living expenses up to your policy limit.
Do you have renters insurance? If not, get one from Smucker Insurance Agency Inc., serving Plain City, OH, and the surrounding areas. Contact us today and see how much we can save you.
Smucker Insurance Agency Inc. knows that insurance gets a bit complex at times. Umbrella insurance is one of those policies that takes a little explaining.
Umbrella insurance is a secondary insurance policy. You need to have a qualifying primary policy to obtain umbrella insurance. This can be any one of several policy types, including homeowner’s insurance, renter’s insurance, auto policies, or RV insurance. Any primary policy qualifies you for the secondary insurance of umbrella insurance.
What exactly does umbrella insurance do?
Your umbrella policy adds coverage to your liability coverage on the primary policy. You must already carry the maximum coverage on the primary policy for liability. Let us say your home policy lets you carry $1 million in liability coverage on your Plain City, OH home. You maximize that coverage, but you want more than that. You would like $2 million of liability coverage because you entertain regularly at your home which has both a swimming pool and trampoline. With so many opportunities for accidental injury, you want the added coverage.
Your Smucker Insurance Agency Inc. can help you obtain an umbrella insurance policy. This provides you the coverage you need. Umbrella only provides liability coverage. It not only extends the coverage you need, but $1 million in umbrella coverage also costs little. Secondary policies typically cost less in premiums.
When an accident does happen, your insurance primary policy covers it first. Once you exhaust the primary policy’s liability coverage, you can access the umbrella policy. That means the accident would have to have caused damages in an amount greater than $1 million. Your primary policy, your homeowner’s insurance, in this case, would pay out the first $1 million. After that, any amount still due to those injured would come out of your umbrella policy.
Let Smucker Insurance Agency Inc. serving Plain City, OH help you obtain the coverage you need. Call us today.
Having a condo can be a great way to enjoy your own space without renting, but also not have all the responsibilities that come with owning a single-family home. You won’t need to worry about things like yard maintenance or whether the roof needs repair, since those aren’t areas of the condo building or land that belong to you. But you still want to protect your actual unit and the contents, which is where condo insurance comes in. If you’re in the Plain City, OH area and need this kind of policy, Smucker Insurance Agency Inc. can help you find the right option for your needs.
The personal space inside your condo, along with the four walls that make up your unit, is your responsibility when it comes to insurance to protect them. You don’t have to worry about protecting the rest of the building, so you need a policy that’s different from typical homeowner’s insurance. Then you can enjoy your condo, all it has to offer, and the peace of mind that comes with knowing you’re protected the right way and your belongings are covered in the event of damage or property destruction.
If you live in or around the Plain City, OH area and need a condo insurance policy, reach out to us at Smucker Insurance Agency Inc. today. We can help you find the coverage you need and talk with you about any options you might be considering. That way you can have the quality policy you want and expect, and the knowledge that you’re covered for the issues life can sometimes throw at you. There’s no reason to settle for just a basic policy or worry about whether you have enough protection when you choose a policy with help from our trusted and dedicated agents.
Like other states, Ohio has its own requirements for its residents’ auto insurance. And, it requires you to prove that you have a current insurance policy that meets the state regulations. If you aren’t sure that you have enough auto insurance or you need to start a new policy, call us at Smucker Insurance Agency Inc. in Plain City, OH to speak with an agent about your coverage.
Bodily Injury Requirements
Bodily injury liability insurance coverage is required by Ohio. The state has a specific minimum amount of this insurance that you must carry, though many people get a higher amount to make sure that they will be able to pay if there is a serious accident. This type of coverage helps with some of the expenses you will have when you are at fault for an accident, including the medical bills of the other party. There is a minimum amount of coverage set for when one person is injured and another when two or more people are injured.
Property Damage Requirement
Coverage for property damage is also required by the state. This coverage pays for property damage that you do to another person’s vehicle in an accident that you are responsible for. It can also cover property damage to a building if your vehicle were to hit one. Like the bodily injury coverage, the Ohio minimums are relatively low, and many people choose to get more coverage so that they won’t owe out of pocket if they hit an expensive car.
Get Your Auto Insurance
The required minimum coverage amounts are the bare minimum to stay legal in Ohio, but it’s common for people to raise those amounts as well as to get optional types of coverage so that their own vehicle’s damage is covered. If you need auto coverage, give us a call at Smucker Insurance Agency Inc. in Plain City, OH, and make an appointment to talk to an agent.
Not only does commercial insurance help safeguard your employees and businesses from costly lawsuits, damages, and more but also it helps you avoid penalties from the state for not having adequate insurance coverage. In Ohio, like other states, small businesses are required to carry two types of insurance for their company: 1) workers’ compensation insurance and 2) commercial auto insurance.
First, workers’ compensation is legally required for any business with employees – regardless of their status as part-time, full-time, seasonal, or temporary workers – and helps pay for work-related injuries or illnesses sustained while on the job. Unlike many other states, workers’ compensation insurance must be purchased through a state agency in Ohio. Second, commercial auto insurance with at least state minimums for liability is required for any vehicle owned by the business. Additionally, although not required, it is highly recommended that if you require your employees to use their personal vehicle for work functions that they are covered under hired or non-owned insurance as the majority of personal policies exclude business use.
Consequently, not carrying commercial insurance can have serious ramifications for a business. For starters, you’ll open your business to potential fines and litigation by the state of Ohio. Furthermore, not carrying commercial insurance means that you’ll be exposing your business and risking your own personal assets should you be found liable in a lawsuit from employees or a third party.
When you need to find commercial insurance, but don’t know where to start contact the all-star team at Smucker Insurance Agency Inc. in Plain City, OH. Our friendly and professional group of insurance experts will walk you through your options and learn about your business so that we can customize a commercial insurance policy that checks all the boxes.
Based in Plain City, OH, Smucker Insurance Agency Inc. serves the community by offering residents different types of insurance policies. We strive to make sure that our clients find coverage that aligns with their individual situation. As an independent agency, we have established successful relationships with several carriers throughout Ohio.
Common Home Insurance Myths
Protecting your home in Plain City, OH is one of your top priorities. Home insurance covers your property if it is damaged or vandalized. The policy also covers any damage to your garage and anything else connected to the property. While you are gathering information on different types of home insurance coverage, avoid these common home insurance myths.
I Don’t Need Liability Coverage
This is a mistake. A popular theory is that liability coverage is not necessary if the people who hang out with you have their own coverage. Be aware that you will be responsible if your friend is hurt while visiting your home whether they have coverage or not. Liability coverage should be a foundational piece of your policy.
Figuring Out The True Value Of My Items Isn’t Important
Having an accurate assessment of your home and personal items may make things easier in the future. Consider having your home appraised so that you will have an accurate assessment of your home’s value in case it suffers serious damages. Likewise, taking inventory of your personal items is also important because you have a clear idea of their value if you are a victim of theft. If you have any luxury items, you may need to alter your policy to include coverage.
Maintenance Issues Are Covered
This isn’t entirely true. You have to take care of your home. Issues related to mold or an insect problem will likely not be covered, as those are signs that you aren’t taking care of your home properly.
Consult With Smucker Insurance Agency Inc.
Visit our website today to learn more information about home insurance.
Your Plain City, OH business like most businesses needs liability coverage more than almost any other type of insurance coverage. Your business owner’s policy may not offer the level of coverage you need, but you can easily enhance this with an umbrella policy from Smucker Insurance Agency Inc.
An umbrella policy provides the insurance version of your umbrella in a rainstorm.
Think of your rain slicker as your BOP policy. Your umbrella provides extra protection.
Your BOP covers liability at your office location, storefront, etc., but once it pays the maximum of the policy, the rest comes out of your pocket unless you own an umbrella policy.
You can only buy an umbrella policy once you own a BOP or business liability policy. Umbrella coverage is secondary coverage, providing what amounts to an add-on, but as a separate policy.
We live in a litigious society. One accident on your business’ premises could require settlements to multiple people. The low cost of umbrella policies makes them a wise investment to protect your business.
Imagine that a fire breaks out in your place of business or a tornado or derecho strike it while staff and customers are there. You can feasibly get sued because you did not have fire retardant curtains and tablecloths or because your business had no storm shelter or basement. Perhaps it had no weather radio.
That may sound farfetched as you read this article, but conduct an Internet search for fires at businesses or how common tornadoes are in the US. Every state experiences tornadoes. Your wise investment in an umbrella policy protects your business and pays these settlements once you exhaust the BOP’s liability.
Contact Smucker Insurance Agency Inc. to learn how best to protect your Plain City, OH business from liability with umbrella insurance. Let us help you make your business more successful.
Pets come in all shapes and sizes. For many though, cats and dogs are normally the pet of choice. When you live in a Condo, it is extremely important that you keep your pet under control at all times. In Plain City, OH, the agents of Smucker Insurance Agency Inc. offer local condo owners in the area advice on pet liability and how it can affect their condo insurance. They understand how important pets are to their owners, but they also know the damage a pet can do to the property if they are not properly cared for.
Pets Are Family
Pets are family members and are often cared for better than most people. Making sure they have everything they need may prevent them from destroying furniture and other household items. Kenneling them at night or when you are away is a good idea, especially if you have a young dog who is still learning its boundaries.
Know What the Risks Are
Know what other risks you may face. If a pet is overly aggressive, you may have to be concerned with them trying to bite another dog or a person if they get too close. This type of liability is one of the most common. Adding pet liability to your policy is essential and will prevent financial hardship in the long run.
At Smucker Insurance Agency Inc., the agents are dedicated to helping condo owners in Plain City, OH protect themselves from various types of pet liability. Call and talk to one of the office’s reputable agents whenever it is most convenient for you. You will get the answers you need and can rest easy that you are sufficiently covered.
When it comes to safeguarding your business, it is important to have enough liability coverage to protect the totality of your assets. Additionally, having adequate business insurance is oftentimes a requirement to win a contract so having enough coverage helps to ensure the profitability and longevity of your business. Generally speaking, there are two types of commercial insurance with business owners having the option to supplement these coverages with additional add ons that are unique to their needs. First, commercial property insurance provides coverage for any business-owned property that is damaged, stolen, or lost. Second, business liability insurance helps pay financial damages if someone sues your business.
When determining how much commercial insurance you need, the first step is to refer to the contract. If you are buying or leasing property space to operate your business it is highly likely that the agreement will stipulate the minimum amount of liability insurance that is required with the same principle applying if you are bidding on a contract. If neither of these scenarios apply, it is important to consider these factors when determining how much insurance to purchase:
- Number of Employees
- Type of Business
- Leased or Owned Office Space
In addition to property and liability insurance, another common policy is cyber liability insurance which allows the business to recoup the cost required to recover from a cyber-attack or data breach.
When it comes to finding a reputable and trustworthy insurance agency, look no further than the Smucker Insurance Agency Inc in Plain City, OH. With our relentless dedication to providing for our customers, we strive to provide you honest and transparent insurance service in the Ohio area. Give us a call today to schedule a consultation.
Even though home insurance is not mandatory, it is highly recommended to have it. Moreover, most mortgage lenders require homeowners to have home insurance before closing on a purchase. To make sure you get the perfect policy that fits your coverage needs and budget, Smucker Insurance Agency, Inc., serving Plain City, OH, has pulled together a list of things you should consider.
The location of the house plays a significant role in the types of policies that are available and in the cost of insurance. For example, a home located on a coastline costs more to insure, while the coverage for a house situated near a permanently staffed fire department will be cheaper.
A standard home insurance policy provides you with basic protection, and some things and events might not be covered. Therefore, if you live on a coast or in a flood-prone area, it may be worth considering getting flood insurance as well.
Your Home’s Claim History
Whether you have just begun your home search or you have been living in your home for years, it is essential to know your home’s claim history because it may affect your home insurance rates. You might not know, but a claim filed in the past five years can cause your insurance rates to increase. The good news is that there are also prior claims that have a positive effect. For example, the replacement of the roof damaged by the storm makes a house more desirable and valuable to the insurance company.
Buying home insurance is a great way to protect your house and property. We recommend you not to rush and take your time by choosing a perfect policy. If you need assistance and you want to know more about home insurance, Smucker Insurance Agency, Inc., serving Plain City, OH, is ready to help and guide you through this process. Give us a call today and talk to one of our experienced and highly qualified insurance agents.