Hazard insurance is part of your home owners insurance policy. This is the portion of your plan that will take care of fire or other hazards in the event of disaster. The other portion of the plan is liability insurance. This will take care of medical expenses if someone is injured while visiting your home. It is important to have both hazard and liability insurance coverage. If your home is destroyed, you want to repair or replace it as quickly as possible.
Although you do not want to think about your home being devastated by a fire, flood or other disaster, if it does happen, your hazard insurance will cover the expense of either repairing the damage or even rebuilding your home. Homeowners insurance may not be required by law, but if you have a mortgage on your home, your lender will probably require this type of protection. Since hazards vary from state to state, you will want to look at the policy and make sure you are covered for all types of disasters that are common for you area. Some areas may require special hazard coverage for flooding or hurricanes. Make sure when you compare quotes, you understand the type of protection you need.
When speaking with an agent, you can ask "Is hazard insurance covered under my homeowners insurance policy?" This will help you determine the type of plan you need and still find a policy you can afford. The best way to make sure you have a great plan is to compare rates. Do not just choose the first quote you find, when you compare both price and coverage, you might be able to get a better deal. Knowing you have top of the line insurance coverage will ensure peace of mind.
You may sit back and peacefully enjoy with your family till a sudden and violent shaking of ground called earthquake, a tremor occurs. Perhaps, earthquake is one the most fearful natural phenomenon. It is unpredictable and occurs without any notice. Earthquake may occur due to many reasons such as explosions of high atomic bomb or nuclear power, high flow tides, heavy traffic in city streets, tumbling of streams over high falls etc. Many scientists have failed to predict when an earthquake occurs.
Earthquake in Ohio
Since the Revolutionary War, Ohio has a record of atleast 120 earthquakes which resulted in heavy damage and major injuries. So far, there have been six earthquakes in Ohio in 2010. The largest recorded earthquake with 5.5 magnitude in Ohio, shook the entire Anna city in the midnight. The area around Anna has been the epicenter for more than 40 quakes. Even Ohio’s two nuclear power plants are not free from the risk of quakes. The Geological Survey of Ohio has recorded earthquakes which had 4.5 magnitude or even more. Though many earthquakes occurred, no one were severely injured or killed. The state of Ohio’s designs it’s seismic network to identify high risk zones and communicate the same information to its residents after an earthquake.
Ohio Earthquake Insurance
If you are looking for a comprehensive home owners insurance or purely an earthquake insurance policy, obtaining an earthquake insurance quote in Ohio much before any other policy is a must. If your location is very much prone to earthquake then do not delay in choosing a policy which provides you financial support when disaster strikes. Not all homeowners insurance policy will pay when their homes are damaged by earthquake.
Do remember if you are opting for ‘all perils’ coverage, make sure you check with your agent if it covers earthquake. Generally ‘all perils’ coverage does not cover earthquake, it differs from one company to another. There are such few instances where a home owner with a requirement for mortgage needs to have an earthquake insurance. If you are residing in earthquake zone areas and looking for that peace of mind to be protected financially in the event of any damage then insurance is definitely a good purchase.
Ensuring that your biggest asset which is of high priority for you and your family is financially secured by home owners insurance and also equally considering coverages to shield your personal assets. You will not know when and what kind of injuries will be sustained by anyone on your property. You will also not know the heights of damage which will occur or unintentionally being caused by any of your family member. Incidents and it’s severity cannot be predicted and hence a claim over your personal liability and law suits for it. Liability costs are not covered by your home insurance policy to greater extent, hence recommending more coverage on personal liability.
Liability Insurance – Two Types
- Home Insurance Personal Liability: Personal liability insurance covers bodily injury and/or property damage against every claim and law suits causing any accident when on your property or if your personal activities results in any damage or injury at your house. Home Business related damages and loss are not included.
- Home Insurance Medical Payments: Medical Payments coverage is a another form of liability insurance basically covering others to pay for medical treatment of injured at your home or in your property. It includes doctor’s fees, hospital stays, x-rays, and other similar expenses.
Property owners have this huge responsibility of maintaining safe conditions in and around their home to avoid any injuries for people coming home or when on their. There are different categories of people who might visit your property and you will be held liable for any incident occurring and protecting these specific groups of people is major duty of a home owner.
- Invitees: Category of people who are invited by the home owner for general purposes of work at their premises. Contractors and workers are usually labeled invitees.
- Licensees: A person who does not have any relation contractually with the owner of premises but he has the permission to go to the premises is known as a licensee. A licensee is typically considered as a social guest welcome at any residence.
- Trespassers: A person who steps into the premises of another person without any permissions implied by the owner, purely for their amusement or benefit is known as a trespasser. Skateboarders in a swimming pool, not having a finish will fall into the category without any evidence, then the owner exercises a duty in order to avoid injuries to the trespasser.
Home liability insurance is generally included in policies. But it comes usually with $100,000 coverage which is not sufficient when some other person is injured severely. So its always better to play safe by setting $300,000 coverage or even more in case of any accident at your home. This just requires an increase on your premium rates slightly resulting in tremendous peace.