Getting insured is been made easy today. You have to know that you are adequately covered at any given time. Besides, there are several stages and circumstances in life which will force one to re-evaluate one’s insurance needs. Marriage, home ownership, moving to another city, retirement and children. These changes must trigger any Ohioan to re-evaluate their insurance.
Stages of Your Life
Job and Career: This is the stage where your focus point is career. There isn’t much of need for every type of insurance. You might want to buy a car insurance to secure your drive and your modest car. If you are single and with no dependents then you might want to own a life or health insurance for health coverage.
Marriage and Home ownership: In your mid life when your relationship status changes from being single to married, making sure your spouse and family are financially covered and protected is very important. You will most likely buy a home and a new or additional vehicle, securing the home with a home insurance and including your spouse’s name and adding that new car in your car insurance policy becomes necessary.
Caring for Your Kids: Your insurance coverage has to be reviewed again when you welcome a new member to your family. With kids running all over in home, you would want to ask for more safety. Also, an insurance provides coverages for any expenses which may occur in future such as children’s activities and pranks, it’s always advisable to opt for plan which suits you and take that adequate coverage for your kids to meet their foreseen future needs. Remember, your kid will grow up to be a teen tomorrow and will wish to drive your car.
Moving Out of State: When you are moving out of state, of course your car is coming with you. It’s important that you consider many of the factors that will determine the price of your new out of state car insurance. Keep your insurance agent informed about the changes you making to your life.
Growing Old and Retirement: Income protection is a concern at this stage in your life. With increase in age, your driving experience also increases. This will certainly avail some discounts on your car insurance. However, effects of aging factor differs from one company to another. If you wish to start a business at home after retirement, you need to include that in your home insurance policy and secure it.
Owning a classic car is every Ohioan’s dream. Classic car is the one which is truly 15 years old and even more. Many Ohioans have a hobby of collecting classic and antique cars. If you have desired to drive a classic car, then do remember that it will require more money for it’s services such as repair, paint, wax jobs, inspections, engine work etc. Cars such as 1967 Pontiac GTO, 1966 Chevrolet Chevelle, 1969 Dogde Coronet, 1966 Oldsmobile, 1969 Plymouth Roadrunner etc are few amongst the top classic cars of U.S in high demand and sold readily. It is very important to own a car insurance policy. Those who are the proud owners of classic car will also need a car insurance. For classic cars, insurance is much different than any other regularly driven everyday car.
Insuring Classic Car
Classic car needs specialty insurance. Being a proud owner of a classic car, do not make a mistake by not insuring it. If any damage occurs, you might end up paying for it and that will surely be quite expensive to bear. Take that necessary steps to get your classic car insured before anything wrong happens to it. A guarantee that you will be very glad for doing it. Many aspects have to be considered before you insure your classic car. Age of the car is undoubtedly a factor but also owning a old car does not make it a classic always. It is always better to talk to your insurance company and call an expert in dealing with classic cars in order to get the right knowledge about it. Do not settle for any of the first response which reaches you, shop for as many as possible and talk to different insurance companies to obtain the best.
Special Insurance Rules
Owning a special insurance for classic car has often limits placed on it’s usage. Some insurance policies restrict on miles driven but some say to park t in garage all the times. Be honest with your insurance company and make them clear about your intentions of owning a classic car. If you have plans to exhibit your car on auto shows under special events, ensure that it reaches your insurance agent. Lesser the miles driven, lesser will be your insurance rates. Set an accurate value to the car and shelter the classic car in order to get its value fixed. Insuring your classic dream car is that step needed to take a good care of it. Insurance company wants to protect your car as much as you do.
NFIP (National Flood Insurance Program) had a count of over 4.4 million holders of their policy in US, totally nearing $673.2 billion for insurance coverage. Approximately 280,000 structures are recognized as flood plain areas located in Ohio and only 10% of those flood occurring areas are protected by flood insurance. Ohio’s loss picture statistics is clear with a figure of 15,071 losses and it’s payments nearly of $109.5 million. Looking at these statistics, flood insurance is a must for every Ohioan. Be a own house, rented, condo or a villa, owning a flood insurance if your location is prone to floods becomes necessary.
Floods are such natural disasters which are not easy to predict. Many predictions have gone wrong resulting in heavy damages costing lives. An Ohioan will be found suffering from severe financial aftermath of a flood which they had never dreamt. Still many are unaware about the fact that their home insurance does not cover flood. When discovered later to a major hit to their surprise, they regret.
Flood Insurance Basket
Most homeowners insurance policies do not cover high priced flood damages. Floods can be caused by hurricanes, melting snow, heavy storms, water backup due to overloaded drainage systems. All such scenarios are highly unpredictable. Flood insurance covers loss to your property, from structural damage to debris cleanup. You can make an inventory of all your priced possessions in your home and cover them by purchasing separate coverage, something that your home insurance policy does not offer when flood occurs.
Flood insurance is not mandated by state or any insurance company but it is required by a mortgage lender. If your home is prone to flood, do not wait for a lender or an insurer insist you to buy. It is available through NFIP. It is always better to purchase both building and contents coverage for the broadest protection. Talk to your insurance agent today to enquire about it and to obtain flood insurance, it is a necessity. Even though flood insurance is a federal program, insurance companies sell the policies.
Every Ohioan would wish to have a pet at home. A household animal kept for a person’s enjoyment and companionship, the most popular being the dog. Most states may restrict or forbid certain breeds of dogs and limit number of pets a person can have. The dog is mainly preferred as it is very friendly, protects home or property, entertains you and supposed to be the best companion. To own a dog in Ohio you will need a license agreeing to its rules and abiding to state laws for health and safety of the public and their companion animals.
Statistics of Dog Bite
The saying goes “ The Dog that Barks, does not Bite”, but it takes just a minute for the dog to get angry and pounce back on you. Your dog can come back to bite you. An estimation that 2% of the entire population of America is been a victim of dog bite every year. In numbers, every year approximately 5 million American kids and adults are bitten by dogs. 800,000 victims of dog bite are reported for medical treatment. Out of them, 368,000 citizens required immediate medical attention in emergency rooms in hospital. Dog attack occurs usually for kids between age group of 5 to 9 years. The average cost of a dog bite-related hospital stay was $18,200.
Dog Breeds – Be Aware
There are certain breeds of dog which are labeled ferocious and dangerous. Its bite can even cause death of a person. Dogs usually are much stronger and larger than a human, however a well trained, socialized and when proper care taken they are easy to handle. Dogs such as Rottweilers, Beagles, Golden Retrievers, Dobermans, Greyhounds, etc are dangerous. Currently, Ohio is the only state which has a breed-specific statute. They term that dog as dangerous and vicious which automatically is a “pit bull”.
Dog Bite – Insurance Claims
Ohio state law rolled out a statute to penalize the owners of dangerous dogs if they failed to buy enough liability coverage. This rule has a a significant impact on all Ohio dog owners. Having a dog could increase your premium rates as dogs bite claims are increasing everyday. It is found that every year billions of dollars are rolled out by insurance industries for cases relating to dog bite. An average of $16,600 has been claimed in 2003 for a dog bite by homeowners on their insurance policy. In order to secure the public safety owning a home insurance policy much before you buy a pet is mandate.
A criminal act of stealing a vehicle is occurring on a regular basis and in huge number in U.S. An estimate of 1.2 billion cars were stolen, causing a property loss of $ 7.6 billions in 2005. As the rate of car theft increases, a red alert has been sent across the country to all its states and their cities. However, the theft rate is increasing even after the state has taken stringent measures to curb it. As an Ohioan, your efforts is a must in helping the cops and the government to avoid such crime.
Threat to Ohio Cars
There are three cities of Ohio which incurs car theft problems to the worst of situation. National Insurance Crime Bureau’s recent reports shows that Cleveland stands 82nd, with 271 stolen vehicles during 2010 for every 100,000 dwellers. The report also shows that last year Toledo ranked 84th nationwide with highest rate of car thefts, and Columbus was the 99th city. The numbers clearly signify the threat which has high effect on investment made to own a car.
The bizarre over car theft is that there are certain makes and models of vehicles which are frequently stolen. Factors also include the region and ease of theft. Few sports car, fancy and expensive cars are aimed at a higher rate. Recently, some models such as Acura Integra, Toyota Corolla, Chevrolet Pickup, Toyota Camry, Ford Explorer, Dodge Caravan, Honda Civic etc were stolen repeatedly in United States. Owning such expensive cars is a dream come true for any Ohioan. Let your investment be secured.
Protecting your vehicle from theft is as important as buying one. Much before you buy a car, know what preventive measures can be taken in order to avoid being a victim of such incident. Auto insurance comes as a savior when your car is stolen. A rental car insurance coverage backs up until your car is located by the cops. Any damage incurred due to theft, insurance will pay for the repair. Different companies have different coverages and benefits. By installing safety devices such as car alarm systems, VIN etching, Microdot identification tags and etc, you will not only protect your car from theft but also obtain discounts from your insurance companies. Talk to your agent in Ohio to know the benefits provided by the company and then sign a contract.