insurance

Are Property Owners Required to Have Flood Insurance in Ohio?

Posted on by AgentInsure

For residents with property in Cincinnati, OH, especially those new to the state or planning to move to the area, it is important to ask your insurance agent whether flood insurance is required. At Advantage Insurance Network, we are here to provide answers and ensure you have the coverage necessary to protect your home.

Ohio Flood Insurance Requirements

In Ohio, property owners with homes located in designated Special Flood Hazard Areas (SFHA) and carrying a mortgage are required to have flood insurance. This requirement remains in effect for the duration of the mortgage. Additionally, some mortgage lenders may require flood insurance even if the property is not located in a high-risk flood zone.

Is Flood Insurance Recommended for Property Not Located in a High-Risk Zone?

Floods can occur for various reasons, impacting properties outside of designated flood zones. Many claims are filed annually by property owners due to events such as heavy rain from inclement weather. Discussing the benefits of flood insurance with one of our agents can help you determine if this coverage is right for you.

It’s important to note that standard homeowner’s insurance typically does not cover damage to your home or personal property caused by flooding. This is why, even if your property is not in a high-risk flood zone, having additional coverage can provide protection in the event of a flood.

Contact Advantage Insurance Network

At Advantage Insurance Network, our goal is to help Cincinnati, OH, residents secure the coverage they need to protect their investments. Whether your property is in a high-risk zone or not, contact us today to discuss how flood insurance can safeguard your home.

Can You Get Car Insurance Instead Of Motorcycle Insurance?

Posted on by AgentInsure

Many people assume that car insurance covers all types of vehicles, but it’s not that simple. Motorcycles and cars often fall into different insurance categories, meaning you may not be able to use car insurance for your bike. Here’s everything you need to know.

Vehicle Specifications

Auto insurance typically applies to vehicles with four wheels. Motorcycles are often excluded from car insurance policies because they require specialized coverage designed specifically for bikes. Agents at Advantage Insurance Network can help you understand the differences between these policies.

Motorcycle Insurance

Motorcycle insurance policies are tailored to meet the unique needs of bike riders. These policies often include higher coverage limits for bodily injury, as motorcycles are considered more dangerous than cars and trucks.

Similar to car insurance policies in Cincinnati, OH, motorcycle insurance offers coverage options such as liability and comprehensive. Many policies also provide add-ons, including roadside assistance and coverage for rental costs after an accident.

Bundle Options

While you may not be able to include your motorcycle on your car insurance policy, you can often bundle the two policies together through the same provider. Bundling allows you to manage all your vehicle insurance needs in one place, rather than working with separate companies.

At Advantage Insurance Network, we understand the specific needs of motorcycle owners. You need a policy that meets state guidelines, and you may want additional coverage to protect upgrades or customizations. We can help you find affordable coverage that ensures your bike is protected if something happens. Contact us today to learn more. We proudly serve the Cincinnati, OH area.

Is Boat Insurance Necessary for All Types of Watercraft in Ohio?

Posted on by AgentInsure

For boat enthusiasts who enjoy cruising the waterways of Cincinnati, OH, insurance for their watercraft is often a consideration, but is it necessary? If you’re thinking about buying a boat but are unsure about the type to purchase or whether it will need insurance, call us at Advantage Insurance Network. Our agents can explain Ohio’s stance on boat insurance, situations that may require coverage, and the benefits of having insurance.

Ohio Watercraft Insurance

In Ohio, watercraft insurance is not a state requirement. However, if you are financing or leasing your boat or other types of watercraft, your lender will likely require you to carry insurance. Another situation to consider is docking at a marina. Whether you’re fueling up, taking a break, or grabbing a bite to eat, many marinas require proof of insurance before allowing you to dock. This ensures protection for other boats at the marina in case your vessel causes damage. Insurance options for these situations include comprehensive coverage, collision coverage, and boat liability coverage.

Benefits of Having Watercraft Insurance in Cincinnati, OH

Even if you own your watercraft outright and don’t plan to use marina services, it’s highly recommended to insure your boat. Liability insurance covers injuries, property damage, and damage to other watercraft when you’re at fault. Collision coverage protects against incidents where your boat comes into contact with another vessel, a dock, or other objects. Comprehensive coverage safeguards your investment against risks such as fire, weather-related damage, vandalism, and theft.

Contact Us

If you plan to enjoy time on the water, let our agents at Advantage Insurance Network provide you with the right insurance to protect your investment and your financial future.

Important Considerations for your Next Homeowners Policy

Posted on by Lewis Smith

Whether you live in Cincinnati, Florence, or Lawrenceburg, there are many to factors to consider when purchasing a homeowners policy.   You need to understand what is covered, what is excluded, what endorsements are available, and how claims will be settled. An independent insurance agent can help navigate all the choices. Here are some important factors:

Replacement Cost versus Actual Cash Value Loss Settlement – Replacement cost and Actual Cash Value are the two main loss settlement options for your home and personal property. It is important to identify which option is included in your policy. Replacement cost coverage is the best option for most homeowners. This option will pay the cost to replace your damaged home or personal property up to your policy limits. The other option is actual cash value. Actual cash value is defined as replacement cost less depreciation.   For example, if your roof was damaged in a hail storm and you had an ACV policy, if the roof cost $5,000 to replace but your roof was 15 years old, then you may only get $2,500 less your deductible.   However, on a replacement cost policy in the same example, you would be paid $5,000 less your deductible.

Common Exclusions that can be Covered by Endorsement – Most homeowners insurance policies have three common exclusions that can be covered by endorsement for an additional premium. These exclusions are: water backup, flood and earthquake. Even though these coverages are typically excluded from your base policy, coverage can be added. You should discuss these options with your insurance agent.

Important Optional Coverages – In addition to your base policy, many companies offer additional coverages that can be purchased. Here are some of the options:

  • Identity Theft Coverage – With all of the data breaches occurring today with major companies like Target and Home Depot, it is important to consider having coverage in place to offer additional protection. Many homeowners insurance companies offer some form of identity theft protection.
  • Schedule Jewelry Coverage or other valuables –Many homeowners insurance policies limit the amount of coverage for valuable items. The best way to cover your valuables, such as wedding rings, is by specifically scheduling them on your homeowners insurance policy. Scheduling the items provided the broadest form of coverage available.
  • Equipment Breakdown Coverage – Some insurance companies offer equipment breakdown coverage for mechanical breakdown of major household items such as furnaces, air conditioners, refrigerators, stoves, ranges, dish washers, and more. This is an affordable way to protect big ticket items in your home.

These factors should be discussed with your local insurance agent to be sure you have everything covered properly. The professional insurance agents at Advantage Insurance Network will ask you all of the relevant questions to help identify your needs and customize an insurance package to meet them.   Call us today to discuss your homeowners insurance or visit our website 24/7 at www.myadvantageinsurance.com.

Bundling Your Auto, Home, and Toys with Progressive Insurance Can Save You Money

Posted on by Lewis Smith

Advantage Insurance Network in Cincinnati, OH is a Snapshot Certified agent representing Progressive and their partner, Progressive Home Advantage (underwritten by ASI). By now, I’m sure you have seen a Progressive commercial with everyone’s favorite spokeswoman, Flo, talking about the perks of bundling your auto and home insurance. By having all of your policies with Progressive, it helps reduce the potential for gaps in coverage. But, most importantly, it saves you money. In fact, Progressive gives a discount based on the number of policies you have with them. Do you know all the different types of policies that Progressive can write?

  • Auto
  • Homeowners/Renters/Condo
  • Mobile Home
  • Motorcycle
  • Boat
  • Personal Watercraft
  • Recreational Vehicle
  • Snowmobile
  • Travel Trailer
  • ATV
  • Golf Cart
  • Segway
  • Classic Car
  • Umbrella
  • Commercial Auto

Bundling your Progressive policies with an independent agent like Advantage Insurance Network gives you the extra benefit of having someone local to help with questions and concerns. Call us today or visit our website 24×7 at www.myadvantageinsurance.com to get started on your Progressive auto and home insurance bundle with Advantage Insurance Network.