Home and auto owners in the state of Ohio face a number of risks. Some are more well-known than others.
Most people are familiar with auto collision risks. Likewise, many Ohioans take steps to protect their homes in the event of fire or theft.
But, what about some of the lesser-known risks? At our law firm in Columbus, Ohio, we’ve dealt with countless home and auto insurance claims on behalf of our clients. In this post, we’ll share our thoughts on essential supplemental insurance that can help you reduce your risk of the unknown.
(If you’re evaluating one or more of the following coverage types, feel free to contact us to discuss your options.)
Supplemental Insurance & You
The following types of coverage may be worth considering. Be sure to do your homework before seeking supplemental policies.
1) Rental Reimbursement, which covers vehicle rentals required because your car is damaged or stolen.
2) Coverage for towing and labor charges, which covers you in case of road breakdowns.
3) Gap coverage, which will pay for the difference between the actual cash value received for the car and the amount left on your car loan. This is especially important when your vehicle is totaled in an accident.
4) Mold coverage for homeowners policies, which is also referred to as fungi or bacteria coverage. This is defined in most policies as any type of mold or mildew produced or released by fungi. This coverage protects you in the event that you need to test for or remove any mold or pay for mold remediation.
5) Water and sewage backup for homeowners coverage, which covers you for water backup from sewers or drains or overflow from a sub pump.
6) Identity theft protection, which protects you from any intentional, knowing act of transferring (without authority) the identification of an insured with the intent to commit unlawful activity.
The previous list is certainly not an exhaustive list, but these are common supplemental coverage types that we see our clients seeking. To properly identify which policies are best suited for your situation, take time to evaluate the risks you face as a home and auto owner. Then, spend time talking to insurance experts who can guide you toward an informed decision.
If you’d like to chat with our team at The Law Office of Tom Somos, LLC, feel free to reach out and ask us a question. We’re always here to help.