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homeowners insurance and renters insuranceHomeowners Insurance and Renters Insurance



Home Insurance Policy

There are a number of basic types of Ohio home insurance coverage included in a standard Ohio home insurance policy. What you need will depend on the type of home you live in, the contents you own, your need to 'protect' those assets with liability insurance and whether or not you want a home insurance policy to cover living costs if you are forced to live outside of your home while it is repaired. These are the type typically sold in Akron, Barberton and Cuyahoga Falls.

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Condo Insurance

If you are a condo owner, you have a unique situation. You will need to have your own condo insurance in Akron, Barberton or Cuyahoga Falls, but you will also need to be sure that your condominium corporation also has insurance. You will insure your belongings and the structural parts of the building that you own (like the kitchen cabinets that you installed). Your condo board will need to have a policy to insure the overall building, including your unit.   Your needs for Ohio condo insurance are similar to the Akron homeowners - with some special caveats because of the unique ownership relationship that you have with your condominium corporation.   To be sure that you adequately insure the structural components which belong to you, check with your condominium corporation and read the corporation's insurance policy. This area - what you own versus what the corporation owns - can be a very grey area.

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Flood and Earthquake Insurance

For flood insurance you can contact the Federal Insurance Administration. Their website is www.fema.gov. You may be able to get earthquake insurance from a private home insurance company.

We offer Federal Flood insurance at our agency for the Akron Barberton, Cuyahoga Falls, and surrounding communities in Summit county, contact an agency representative at 330-940-2288 for more information.

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What Home Insurance Covers

Home insurance is notoriously complex. Especially in the Akron Barberton and Cuyahoga Falls, Ohio area. The complexity is around the types of "perils" covered by your policy.   "Perils" are the ways and means by which damage occurs. The easiest way to explain this is to look at the standard list of perils which most insurers consider:  

  • fire or lightening home insurance
  • theft home insurance · volcanic eruption home insurance
  • falling object home insurance, sometimes covered by car insurance
  • weight of ice, snow or sleet home insurance
  • accidental discharge of or overflow of water or steam from within a plumbing, heating, air conditioning or automatic fire-protective sprinkler system, or from a household appliance
  • explosion home insurance
  • riot or civil commotion home insurance
  • damage caused by aircraft home insurance
  • damage caused by vehicles or car or home insurance
  • sudden and accidental tearing apart, cracking, burning, or bulging of a steam or hot water heating system, an air conditioning or automatic fire-protective system
  • windstorm or hail home insurance
  • smoke home insurance
  • vandalism or malicious mischief home insurance
  • freezing of a plumbing, heating, air conditioning or automatic fire-protective sprinkler system, or of a household appliance · sudden and accidental damage from artificially generated electrical current (does not include loss to a tube, translator or similar electronic component).  

You can get an "all perils" policy, which will cover you for the complete list of perils. Most Ohio home insurance policies will have some limitations.   Do you notice that many natural disasters are excluded from home insurance policies? You can get a special rider or endorsement to cover you for flood, earthquake, landslide, mudslide, or sinkhole. However, be prepared for this type of home insurance coverage to cost you a lot more - especially if you want flood coverage and you are in a flood-prone area for instance.   ALWAYS check your Akron home insurance policy to be sure you know exactly what perils you are covered for.

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Renters Insurance

Your primary need is for renters insurance to cover the cost of your belongings. Although the insurance policy of your landlord will cover the structure it will not cover your contents. Your belongings will be covered by Ohio renters insurance against named perils, but will not cover your belongings in the case of flood or earthquake. Your renters insurance policy will also include some liability insurance coverage in the case that another person is injured inside your apartment. Certain Apartment complexes in Akron, Barberton and Cuyahoga Falls require this coverage prior to moving in. You have two coverage options with renters insurance:  

  • Actual Cash value which will pay you the actual value of your goods, minus depreciation or
  • Replacement cost which will pay you the actual cost of replacing your goods, with no deduction for depreciation.

With either of these renters insurance options you may want to also purchase a 'floater' to cover jewellery or other expensive items you may own. A standard renters insurance policy has certain limits on the amount of a claim for jewellery, silver, furs, and such. A floater is basically a separate renters insurance policy which covers these items for a higher amount and may also cover additional perils in addition to those in your policy. These are especially popular in Akron, Barberton, and Cuyahoga Falls.

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