Total Loss Doesn't Have To Be A Total Bummer

Posted By Jay Toole
July 21, 2020 Category: Homeowners, Insurance, Underinsurance

Tips on Insuring Your Home How much coverage do you really need? One word: Replacement Cost. If it is your personal residence, your home should be insured to the amount it would cost to replace the home and not what it may sell for on the market. Insurers and homeowners share a common goal, of reducing exposure to losses (from fires to theft to catastrophic storms) and ensuring that consumers have adequate homeowners coverage in place to recover from financial losses that can occur. As your insurance agent, we continually strive to use the most accurate tools in helping homeowners make the right coverage decisions.   1.Make sure you update you limits overtime The issue of underinsurance (insurance to value) usually arises following a major catastrophe that destroys many homes in a particular area. In the aftermath of a catastrophe, the cost of rebuilding can skyrocket and consumers who have not recently reviewed and updated their insurance policies sometimes find that they do not have enough coverage to rebuild. This is why insurers encourage homeowners to conduct a yearly review of their insurance needs. - Did you remodel your home? - Did you add an addition? Although it is impossible to precisely predict the exact cost of rebuilding a home at some future date, it is important to insure the home for an amount that takes into account rising building costs. Once the replacement costs are estimated, the insurer can help the homeowner determine how much cov

You Should Know: Homeowners Policy - Vacancy Exclusion

Posted By Jay Toole
January 09, 2018 Category: Homeowners, Insurance

Inside your Homeowners Policy there is an exclusion for vacancy. This means that you would not be covered if your property was vandalism or freezing of plumbing if the building was vacant for 60 consecutive days immediately before the loss.  Scenerio: Bob has a property across town that he does not live in or rent out. The property has been vacant for 90 days. Some teenagers decided to graffiti the side of the house. This would NOT be covered under his homeowners policy because it has been vacant for 60 days prior to the vandalism.    What qualifies a property or building as vacant? A property or building will qualifiy is it has been vacant for 60 consecutive days or more.  Are frozen pipes ever covered if the building was vacant? The isured can potentially be covered if they used reasonable care to maintain the heat. Insurance can be boring and confusing at times- but not to us! Have a question on your policy that is stumping you? Give us a call at 440-349-3670 or email at

Pitfalls of 'State Minimum Cover'

Posted By Jay Toole
February 16, 2017 Category: Auto, Insurance, State Minimum, Coverage, Policy, Tips

You have seen the comercials, you have heard the radio ads, and you have grown to love (or hate) the various spokes-characters. The tout the same thing- keeping you legal on the road for less. This may be the best option for some but if you are driving around with state minimum coverage, you are likely leaving yourself liable for a lot of headaches- physically and financially. In Ohio, the state minimums are as follows: In Ohio the required minimum for Bodily Injury Liability Coverage is currently $25,000 per person injured in any one accident and $50,000 for all persons injured in any one accident. The required minimum for Property Damage Liability Coverage is $25,000 for injury to or destruction of property of others in any one accident. To find your own state’s minimum coverages, call a local agent or do a quick online search: {State} minimum auto insurance. If you are considering bare minimum car insurance, here are the needed facts you should know: When bare minimum makes sense If you are recovering from a recent bankruptcy, a college student, on a very tight budget living pay check to paycheck, or have little to no assets, then state minimum car insurance may be the only option that fits your budget.  This will allow you to stay legal on the road. However, if this is your situation, consider the following:       Don’t get complacent. As your financial situation changes and hopefully improves, reconsider your auto in