Coastal Property Insurance
/ By Charlene Echerivel / Home Insurance/ • • / 0 Comments

About Coastal Property Insurance

Coastal Property Insurance

Coastal property insurance is a type of insurance that provides protection to homeowners and businesses located in coastal areas against losses that may result from natural disasters and weather-related events such as hurricanes, floods, and storms. Property owners living near the coast need to consider purchasing coastal property insurance to protect their property.

The cost of coastal property insurance varies depending on several factors, such as the location of the property, the age of the property, the type of construction, and the insurance coverage limit. In some areas, such as hurricane-prone regions, the cost of coastal property insurance can be higher than in other regions.

How location of the property effects insurance

It is essential to understand what types of events are covered by coastal property insurance policies. For instance, many coastal property insurance policies do not cover losses resulting from flooding, which is a significant risk for properties located near the coast. Property owners may need to purchase separate insurance for other events, such as a flood insurance policy.

It is also important to note that coastal property insurance policies often have deductibles that can be significantly higher than deductibles for other types of insurance policies. This means that property owners may need to pay a higher out-of-pocket expense before the insurance coverage kicks in. Property owners should carefully review their insurance policies and understand their deductibles to avoid any surprises when filing a claim.

Coastal Property Deductibles

In conclusion, coastal property insurance is highly valuable for homeowners and businesses located in coastal areas. It provides protection against losses resulting from natural disasters and weather-related events. Contact Intelli Choice today to ensure you have the appropriate insurance coverage to protect your investments. We have the expertise and knowledge to offer customized insurance policies that meet the unique needs of coastal property owners.

Homeowners Insurance May Not Cover You in the Case of Flooding
/ By Charlene Echerivel / Disaster Coverage/ • / 0 Comments

Homeowner’s Insurance May Not Cover You In The Case of Floods

Homeowners Insurance May Not Cover You in the Case of Flooding

Homeowner's insurance is a great way to cover your property in case of disasters like theft, fire, and hail. However, floods in the United States cumulatively cause billions of dollars of damage per year, and yet they are almost never covered by standard homeowner's policies. If you live in an area prone to flooding you may be taking an unnecessary risk by passing up flood insurance, which can not only protect the value of your home but your possessions inside as well. If you are planning to buy a home in a potential flood zone as designated by FEMA, your lender may even require that you maintain active flood insurance.

WHY FLOOD INSURANCE MAY BE REQUIRED IN THE GREATER CINCINNATI AREA

Many areas of Cincinnati are particularly vulnerable to flooding due to their low-lying landscape and proximity to bodies of water such as the Little Miami River. During extreme weather events, these areas can quickly become overwhelmed and massive damage can result.

Flooding may not be covered

FEBRUARY IS ONE OF THE WORST MONTHS FOR FLOODS DUE TO SNOW MELTS

Snow melt-offs can be particularly devastating and can trigger flash floods; the Ohio River has a documented history of reaching flood levels over the first half of the year. If the temperature rises too quickly following a heavy snowfall, a rapid thawing process can result in quickly rising streams and rivers. This is especially true in areas with high elevation, as the melting snow has nowhere else to go but downstream. If the precipitation continues in the form of rain following the melt-off, this can exacerbate the problem and catastrophic flooding conditions can ensue. Additionally, run-off from urban streets and other impermeable surfaces can feed into bodies of water, causing them to overflow their banks even more quickly.

HOW YOU CAN PROTECT YOURSELF

Flooding can cause massive damage to not only your possessions but also the support system and infrastructure of your home. Intelli Choice Insurance is in the business of providing peace of mind that you will be covered whenever disaster strikes.

As a Dave Ramsey endorsed provider, our processes and service have been reviewed to ensure that they are worthy of this recommendation and carry a client-centered mentality. Please feel free to reach out for a quote and to ask any questions about how we can best cover you.

What Homeowner’s Insurance Coverage Should I Have
/ By Charlene Echerivel / Disaster Coverage • Home Insurance/ / 0 Comments

What Homeowner’s Insurance Coverage Should I Have

What Homeowner’s Insurance Coverage Should I Have

As a homeowner, it's important to have adequate insurance coverage to protect your investment and personal belongings in the event of an unexpected event such as a fire, theft, or natural disaster. While insurance policies can be complex and vary depending on your specific needs, here are some key areas to consider when choosing your homeowner's insurance coverage:

This coverage is designed to protect the physical structure of your home in case of damage or destruction. It includes repairs or rebuilding of the house, as well as any attached structures such as garages, decks, or porches. The amount of dwelling coverage you need should be based on the estimated cost of rebuilding your home, not the current market value.

Dwelling coverage

This coverage is intended to protect your personal belongings, such as furniture, electronics, clothing, and jewelry, in the event of theft, fire, or other covered events. The amount of personal property coverage you need will depend on the value of your belongings, and it's important to take inventory and document everything you own to ensure adequate coverage.

Liability coverage protects you in case someone is injured on your property, or if you or a family member accidentally cause damage to someone else's property. This coverage can also provide legal representation if you are sued. Liability coverage typically starts at $100,000, but many experts recommend purchasing at least $300,000 in coverage.

Liability coverage

If your home becomes uninhabitable due to a covered loss, additional living expenses coverage can help pay for temporary housing, food, and other living expenses until your home is repaired or rebuilt.

Depending on your location, you may need to purchase separate flood insurance coverage to protect your home and personal belongings from flood damage. Standard homeowner's insurance policies typically do not cover flood damage.

Flood insurance

Similarly, if you live in an area prone to earthquakes, you may need to purchase separate earthquake insurance coverage.

In addition to these key areas of coverage, there may be other options available to you depending on your needs, such as scheduled personal property coverage for high-value items, or identity theft coverage. It's important to work with an experienced insurance agent who can help you assess your specific needs and ensure that you have adequate coverage in place to protect your home and assets.

Surprising Things Insurance Will Not Cover
/ By Charlene Echerivel / Commercial Insurance • Disaster Coverage • Home Insurance • Life Insurance • Personal Insurance • Vehicle Insurance/ • • / 0 Comments

Surprising Things Insurance Will Not Cover

Surprising Things Insurance Will Not Cover

Insurance is a type of contract that provides financial protection to the policyholder against future uncertainties. It is designed to help individuals and businesses manage risks and minimize potential financial losses. However, there are some surprising things that insurance may not cover, which individuals should be aware of to avoid being caught off guard.

Intentional Acts

One of the surprising things that insurance may not cover is intentional acts. Insurance policies typically cover accidental damage or loss, but they do not cover intentional acts. For instance, if you deliberately damage your own property or cause harm to another person or their property, your insurance policy may not provide coverage.

Intentional Acts are not covered by insurance

Natural Disasters

Another thing that insurance may not cover is certain types of natural disasters. While most insurance policies cover natural disasters like hurricanes, earthquakes, and floods, there are some events that may not be covered. For instance, some policies do not cover damage caused by landslides, sinkholes, or volcanic eruptions.

Pests or Insects

Insurance may also not cover damages caused by pests or insects. If your home is infested with termites or rodents, your insurance policy may not cover the damage caused by these pests. This is because insurance policies typically do not cover damages caused by wear and tear or neglect.

pests or insects are not covered by insurance

Cybercrime

Additionally, insurance may not cover damages caused by cybercrime. If your personal or business information is stolen or hacked, your insurance policy may not cover the resulting financial losses. While some insurance companies offer cyber insurance policies, they may not cover all types of cybercrime.

Damage Caused by Recreational Vehicles

Lastly, insurance may not cover damages caused by certain types of vehicles. If you own a recreational vehicle or a high-performance sports car, your insurance policy may not cover damages caused by these vehicles. This is because these vehicles are considered high-risk and may require additional coverage.

In conclusion, insurance is an essential tool to manage risks and protect against financial losses. However, it is important to understand what insurance policies cover and what they do not. Knowing what insurance may not cover can help individuals and businesses make informed decisions about their insurance needs and take appropriate measures to minimize potential financial losses.

Does My Insurance Policy Cover Floods
/ By Charlene Echerivel / Disaster Coverage • Home Insurance/ • / 0 Comments

Does My Insurance Policy Cover Floods? Get the Facts on Floods Insurance Coverage

Does My Insurance Policy Cover Floods

Flood insurance policies protect homeowners, renters, and businesses from damages and property losses caused by natural floods. If, for example, your hot water heater goes out and floods your basement, flood insurance would not cover the damages but your homeowner's policy might. If heavy rain causes a river to rise and flood your home, flood insurance will cover it, but your homeowner's policy will not.

Importance of Flood Insurance

Flood insurance minimizes socio-economic flood impacts, especially in areas prone to flooding. Even living in areas with a low risk of flooding, it is still worth considering purchasing a policy to protect yourself and your property from potential damages.
Here are some key reasons why you have flood insurance:
It helps cover the costs of repairing or rebuilding damaged properties when a home or a business
It provides financial protection for your home, business, and property in case of floods
It covers the cost of temporary living arrangements if your home is uninhabitable after floods
It covers the cost of cleaning up debris and other damages caused by floods.
It also provides peace of mind knowing that you're financially protected against the potential devastation of a flood

Importance of Flood Insurance

Obtaining Flood Insurance

Flood insurance is not typically included as part of residential insurance or standard insurance policy. Flood insurance is a separate policy and requires a separate purchase. Depending on the coverage you choose, your flood insurance can cover a variety of damage, including but not limited to:
The physical structure of your home or business
Electrical and plumbing systems
Built-in appliance
Personal property such as furniture, clothing, electronic equipment, stock, and inventory
The cost of flood insurance depends on factors such as the amount of coverage you purchase, the location of your home or business, and any additional riders you opt for. To get the full protection of your policy, you must purchase it before any flooding occurs. Our experienced agents can help you assess your unique needs and provide a policy that fits your budget and coverage requirements.

Do I Need Flood Insurance?

People in Ohio, Kentucky and Indiana need flood insurance because the region is particularly prone to flooding due to the Ohio River. Floods can cause devastating property damage, and homeowners must be prepared with flood insurance coverage to protect their homes and possessions. With the proper insurance coverage, people in Greater Cincinnati can get the help they need should a flood occur. Intelli Choice Insurance offers flood insurance policies to give property owners along the Ohio River peace of mind and financial security in case of flooding.

Do I need flood insurance

Get the Knowledge! Take Action to Be Covered

If you're looking for flood insurance coverage, Intelli Choice Insurance offers policies tailored to your specific needs. Contact us today for professional assistance and personalized insurance policies from our experienced experts.