How to Protect Your Home from Spring Flooding

It’s finally springtime, and you’ve just woken up to the sound of chirping songbirds. The sun streams through your window and you can breathe a sigh of relief that winter is over. You couldn’t be happier—until you walk downstairs and notice that your basement has become a swimming pool.

Spring floods can mean bad news for your home. They’re often the cause of mold growth, structural weaknesses and extensive water damage to your belongings. Even if you’ve got the proper home insurance coverage and flood insurance protection, it’s still a huge hassle to remedy.

If your home has flooded in the past, it’s more at risk for a flood in the future. You’ll need to take extra precautions. Make sure that your spring cleaning doesn’t involve a watery mess by protecting your home with these tips:

Inspect the Foundation

Water will find any cracks or gaps in your home and quickly pour inside. It will turn your brand new laminate floors into a soggy mess. For this step, you may want to contact a home inspector. They can survey your property and find any weaknesses in the structure of your house.

Cracks in your home’s foundation can be dangerous. Along with causing floods, they can allow insects and radon gas to seep into your home. If you spot a crack, you can patch it up using grout or concrete, depending on the size of it.

Upgrade Your Sump Pump

When your home floods, it often starts in the basement. That’s why these rooms have sump pumps, a mechanism designed to prevent water overflows.

A sump pump redirects water away from your home, which keeps your basement dry. Prevent water in your home by installing and maintaining a sump pump. It may be worth installing a back-up battery, as well, so that the sump pump will still function during a storm.

Check on the sump pump annually to ensure it’s in working order. If you’re handy, you can inspect it yourself. Even so, you may want to call a plumber to do the job, just to be safe.

A sewage backup is one of the worst issues that can happen to a homeowner. A backflow valve can provide your home with added protection against floods; it ensures that the water doesn’t flow into your home if there’s a backup.

Invest in Flood Insurance

When you’re choosing an insurance policy, talk to your independent insurance agent about what it offers for flood protection. Not all standard plans offer coverage for this type of incident. Flood protection plans can grant you peace of mind that you will be insured if there is a disaster.

Even though home insurance is another monthly expense, it will pay for itself in the event of a flood, fire or theft.

Clean your Gutters

We hardly think about our eavestroughs, but they play an important role in protecting our homes against water damage.

However, they’re not very effective at redirecting water if they’re clogged with leaves, twigs and other debris. Schedule an eavestroughs cleaning so that your gutters can handle the wetness that’s on its way.

You should also check where the downspouts are redirecting water. Make sure that it falls at least several feet away from your home.

Check your Window Wells

If you have windows in your basement, you know they aren’t as strong as a standard wall. To protect them from groundwater, window wells are usually installed. However, these wells can become built up with debris over time, diminishing their effectiveness.

Give any window wells on your home a thorough cleaning. If they’re blocked, water will collect near them and eventually seep into your home.

Inspect Your Roofing System and Plumbing

A small leak in your roof or pipes will result in a torrential downpour the next time it rains. Maintaining a healthy pipe and roof system is one of the most effective ways to prevent an indoor flood.

If you suspect that your roof is leaking, call a contractor who’s experienced with that type of roof. Similarly, contact a trusted local plumber to have a look at your home’s pipes. Detecting these issues early can save you a major headache (and repair bill) down the line.

We know what you’re thinking: the cost of preventative maintenance really adds up! It might be expensive to fix these issues with your home, but once you consider the cost of water damage, the upgrades pay for themselves.

April showers don’t need to come with a flooded basement. Make these preventive measures a part of routine maintenance for your home.

Questions about homeowners and flood insurance coverage? Contact Wallace & Turner at (937) 324-8492 in Springfield, (937) 652-8492 in Urbana, or info@wtins.com.

When to Update Your Homeowners Insurance

Being a homeowner comes with great responsibility. You are responsible for the property itself, your family who lives in the house, and your personal belongings. That is why having a comprehensive homeowners insurance policy is essential. It gives you the protection needed in case you face a loss and financial difficulties.  

As life is full of unexpected circumstances, be sure to update your policy accordingly to protect your property from weather, non-weather, and accidental incidents. If you are wondering when to update your homeowners insurance, read about some of the changes that will affect your policy below. These life events may impact any future claims, so pay attention to the terms and conditions.

Buying a new home

If you currently own a home and are buying a new one, unfortunately, you can't just transfer the policy. Your new home will likely have different risks and needs, which means you need different coverage.

If you’re setting out to buy your first home, know that homeowners insurance will protect your property, people, and the belongings inside from incidents that include, but are not limited to:

• Storms, wind, lightning

• Fire

• Freezing, weight of ice and snow

• Theft, vandalism

• Riots

• Aircraft and vehicles

• Water from plumbing

• Heating and cooling system tearing

Usually, this type of insurance is renewed once a year or when you have new coverage needs. The cost will depend on many things, but know that prices vary based on many factors such as square footage and additional structures such as an “accessory dwelling unit” (ADU), or the materials used to build the home. Therefore, it is best to consult with your agent, who has the expertise and the know-how to answer all of your questions and ensure you have proper coverage.

Your family is growing 

If you are expecting a new member of the family, you should be thinking of updating your homeowners policy. You might wonder what the relation between your new baby and insurance coverage on your house is. One aspect of homeowners insurance is content coverage, and with a new baby comes a lot of new “stuff” – furniture, electronics, strollers, etc. You want to be sure these purchases don’t put you over your current coverage limits. Contact your insurance agent to discuss your current policy and if it needs to be updated. It’s also helpful to keep a running home inventory in the instance of a loss; this will make the claims process much easier.  

Your family may also be growing with the addition of a four-legged member. Let your insurance agent know about this immediately, as potential claims such as a dog bite will not be covered if the dog is not listed.

Working on a home improvement project

You might decide to update your bathroom or remodel your kitchen. When you finish your home improvement project, be sure to let your insurance agent know. These additions and improvements to your property will affect your insurance policy. In the case of making a claim, you will need additional coverage for the upgrade costs.

If your kitchen remodel or the bathroom upgrade is making your home inadequate for living, you may think about staying with friends or relatives. During construction, you can even relocate to an apartment if your budget allows you to. In this case, you would also want to protect your property during relocation, especially if you own items of value. That way, you will have complete coverage and, most importantly, peace of mind. 

You are going to retire soon

If you plan to retire and will likely be spending more time at home, you may be eligible for insurance discounts. There will be a reduced chance of theft since you are home, and accidental incidents like a fire will be less likely to occur.

If you have plans to travel now that you are retired, you should also check if it will impact your homeowners insurance. Suppose you travel for extended periods, the house will be empty, so you might need extra coverage. Even if you don't leave your home vacant but rather rent it to someone, you should talk policy updates with your agent. 

Check if there is something your policy does not cover

Even with the adjustments and updates to your homeowners policy, it will not cover certain liabilities. Standard homeowners insurance does not cover flooding. You can purchase insurance covering flooding from heavy rain, snow, or hurricanes as a supplement to your homeowners insurance. As flooding is one of the most common natural disasters, it's advisable to consider purchasing this type of insurance as well. If you live in an area where the chances of heavy rain or snow floods are more significant than average, don't hesitate to talk this over with your independent insurance agent. Your agent will simplify the complexity of this insurance and any additional policies you might want or need. No one knows what the future brings, but one thing is for sure, you want your property and your family to be secure and your financial prospects intact.

Questions about homeowners insurance coverage? Contact Wallace & Turner at (937) 324-8492 in Springfield, (937) 652-8492 in Urbana, or info@wtins.com.

What Most Homeowners Don't Know About Homeowners Insurance

P.J. Miller - Partner

Homeowners insurance protects more than just your property, it also covers the people in it and your personal belongings.

Typical homeowners coverage includes incidents related to:

• Weather: Storms, fire, wind, hail, lightning, freezing, weight of ice, snow or sleet

• Non-weather: Theft, vandalism, riots, aircraft and vehicles

• Sudden/accidental: Water from plumbing, tearing/bulging of heating or cooling systems, artificially generated electrical current

There are also situations you may not have thought of when your homeowners insurance will kick in. For example, if you have a child that is a student living in a campus dorm room, if they experience a burglary or similar type of loss, most homeowner policies will extend liability and personal property protection – this is considered “off premise” coverage.

What isn’t covered by a homeowners policy? 

Of course there are a range of losses not covered by a standard homeowners policy, but probably the most important to know is flooding is not covered. Flood insurance must be purchased as a separate policy to protect against damage caused by heavy rains, hurricanes, snow and flash floods.

With the increase natural disasters as of late, homeowners insurance is becoming harder to get in high-risk areas for flooding or wildfires. As new business to the insurance carriers or renewals; applications ask the underwriting questions as to those two perils, wildfire and flood.  Flood is somewhat of an exception since it’s NFIP/FEMA-based underwriting but they still analyze location as to proximity of water and also wind velocity. Flood Zones A/AE are subject to significant annual rate increases, typically 25% annually.

What are ways to get better coverage that people don't know about?

• Combine your homeowners policy with your auto policy to save money.

• Showing your loyalty to one insurer could help you land a discount, especially if you have multiple policies.

• Renew your plan early and you could get a discount, as well.

It can be advantageous to work with an independent insurance agent versus a national carrier. Independent insurance agencies work with a range of carriers which means they can offer a variety of insurance options tailored to your personal needs. Insurance coverage can be complex and an independent agent can provide personalized attention to make sure you understand all aspects of your policy. There are often discounts and credits available within certain coverages, and they’re able to help you take advantage of these savings. Moreover, you will have one point of contact for all of your insurance needs.

What to avoid that people don't know about?

Avoid online quoting tools. A first-time buyer, unless well-versed in homeowners insurance, should have an agent or broker explain the complexities of an auto insurance policy, rather than using an online quote. These tools are only as good as the information provided and often don't provide a complete quote for coverage that will actually be needed. 

Avoid overlooking flood insurance. Flooding is the largest natural catastrophe and largest single event natural catastrophe that ever occurs. There are some places that would say earthquakes, but from the standpoint of frequency and severity, flooding is more predominant over every other natural catastrophe. The largest negative is that you wouldn't have any coverage for the damage of your house or its contents if you don’t have flood insurance. 

If you are in an area where you should have had flood coverage because it's a high flood risk zone, and if it is a repetitive loss situation, the government (FEMA and NFIP) may not cover assistance or loans due to the repetitive nature of the floods in your area. 

Questions about homeowners insurance coverage? Contact Wallace & Turner at (937) 324-8492 in Springfield, (937) 652-8492 in Urbana, or info@wtins.com.

The Severe Cold Weather Survival Guide for Homeowners - Infographic

It's critical to stay ahead of deep freeze disasters during winter weather. While a standard homeowners insurance policy will cover most cold weather damage, is best to minimize risks. Here are a few tips to avoid potential hazards inside and outside your home.

Avoid a Homeowners Claim with Automatic Water Shut-off Devices

No one likes to imagine water damage in their home, but it happens all the time – more than 30% of homeowner claims submitted are due to water damage – and they often lead to inconvenient and expensive repairs. Many water losses can be prevented or mitigated by an automatic water shut-off device that:

• Detects the flow of water through your pipes

• Automatically shuts off the water supply after a pre-determined time

• Provides custom protection with home and away modes

Water shut-off devices can prevent or mitigate damage from:

• Washing machine hose failure

• Sink, bathtub or toilet over-flows

• Ice maker failure

• Water heater leak or failure

• Water supply line failure

• Frozen or leaking pipes

There are two standard types of water shut-off systems: whole-house systems and point-of-use systems. While both can prevent water damage, you should consider a whole-house system as that is generally the only one that will qualify you for a premium credit on your homeowners insurance.

Whole-House Automatic Shut-Off Systems

While not every water loss can be prevented, many water losses could have been prevented or mitigated if an automatic water shut-off device had been installed in the home – automatic being the critical word here. Automatic water shut-off devices provide the best level of protection from water loss. They require no human interaction – they automatically detect a leak and automatically turn off the water to the home when a leak is detected, preventing further ongoing damage.

Whole-house automatic water shut-off systems that detect or prevent water damage from internal plumbing leaks usually are either time/flow-based or sensor-based. Each uses a different technology to detect leaks, and each can be tailored to match the needs, lifestyle and usage patterns of any homeowner. Regardless of whichever system is used, installation should be completed by a licensed plumber.

Point-of-Use Systems

Point-of-use systems are designed to monitor and shut off the water to a single water source such as a toilet, a sink, water heaters, washing machines or an HVAC unit. Single-appliance devices can typically be purchased for $75 to $150.

Assessing Your Water Damage Risk

Almost every home can benefit from the installation of an automatic water shut-off device. It may be especially cost-effective and less disruptive to add a system if your home is under construction or renovation because work is already being done. 

While any home can sustain damage from a water leak, the costs are even higher to a luxury home with high-end interior finishes or those containing fine arts, expensive appliances or other valuable articles.

Consider the water damage risks in your home, and arm yourself with knowledge to prevent the hassle and cost that come with a leak. Visit with your local, independent insurance agent for coverage advice. 

Questions about water shut-off devices and homeowners insurance? Contact Wallace & Turner at (937) 324-8492 in Springfield, (937) 652-8492 in Urbana, or info@wtins.com. 

Natural Disasters and the Impact on Your Homeowners Insurance

P.J. Miller

As the climate changes and we continue to see an increase in natural disasters, homeowners may be wondering how this will impact their home insurance coverage and rates. Partner P.J. Miller provides insight on the affordability of insurance in the face of climate change.

With all the natural disasters of late, is homeowners insurance harder to get in high-risk areas for flooding or wildfires?   

Yes. As new business to the insurance carriers or renewals, applications ask the underwriting questions as to those two perils – wildfire and flood.  Flood is somewhat of an exception since it’s NFIP/FEMA-based underwriting but they still analyze location as to proximity of water and also wind velocity. Flood Zones A/AE are subject to significant annual rate increases, typically 25% annually.

Have you found that homeowners are being dropped or getting notice of large rate increases?   

Only in those categories and proximity issues, otherwise, not necessarily widespread non-renewals or large rate increases.

Can homeowners dispute a home insurance rate increase?   

In extreme cases, they might dispute with the State Department of Insurance in their respective state. Insurance rates are filed and approved for Personal Lines in each state, so it would be difficult to dispute and/or overturn a particular home or auto account rate change.

In your experience, are homeowners in non-high-risk areas also seeing increases to partially "bear the brunt" of the losses?   

Rates are trending upward, not necessarily with any significant increase, but wind, for example, is definitely part of the problem. High risk area or not, wind damage to roofs, for example, are always going to occur, even in the low-risk settings.

Any experiences or stories you could share about the topic?    

In Wallace & Turner’s area (Ohio), it’s considered a low to medium wind zone but that doesn’t mean we don’t have any wind claims when a non-significant windstorm rolls through and the average wind claim is $12,000 for a new roof.

What do you advise your clients to do? 

Keep your roof well-maintained or replace as it nears 15 to 25 years of age. 

Questions about homeowners insurance or flood coverage? Contact Wallace & Turner at (937) 324-8492 in Springfield, (937) 652-8492 in Urbana, or info@wtins.com. 

Is Your Home Insured for Fall Weather Hazards? – Myles Trempe Interviewed by Reviews.com

Myles Trempe

With the change of seasons, insurance agencies typically witness a host of new property claims. Many homeowners have yet to safeguard their homes for colder weather. Producer Myles Trempe spoke with Reviews.com about how to best prepare for this fall’s seasonal threats.

Myles advises prioritizing the structural foundation of your home for fall preparations. “Repair caulk around doors and windows that may be showing deterioration.”

He added: “Keep fire extinguishers accessible, charged and ready for use. Test all smoke detectors monthly and change the battery annually or as needed.”

At the end of the day, Myles recommends you talk to your home insurance agent. “It is important to have a consultation with a local insurance agent to discuss potential fall risks,” he says. “It is also important to be aware of any exclusions your policy might have. For example, most standard homeowners policies will cover damage caused by hurricanes except for flood damage. Flood insurance is a separate policy that would need to be purchased if you have a greater exposure for flood.”

Read the full Reviews.com article.

Questions about homeowners insurance coverage? Contact Wallace & Turner at (937) 324-8492 in Springfield, (937) 652-8492 in Urbana, or info@wtins.com. 

4 Tips for Purchasing Renters Insurance

Myles Trempe

The advantage of renting an apartment or home is that your landlord is responsible for insuring the building and taking on the cost of making repairs. But as a tenant, you should know that your landlord won’t cover everything. If your possessions are destroyed in a storm or fire, or items are stolen in a burglary, your landlord’s insurance won’t pay to replace your belongings. Renters insurance can help protect you financially in the instance of a disaster or other loss.

Below are a few tips if you are purchasing renters insurance for the first time.

1. Talk with an insurance agent. An agent can help advise on policy language, coverage offerings, exclusions and financial information pertaining to the insurance company you may be working with. Most renters insurance policies typically offer similar coverages and an agent can speak on firsthand knowledge of which coverages may best fit your situation and budget. Down the road, the client/agent relationship allows for a more comfortable transaction if a claim or peril presents itself.

2. Understand what your policy covers and does not cover. Many tenants assume it is the responsibility of the landlord to protect their property if something happens to the building. This is not the case and the reason why you need renters insurance. Renters insurance covers most specifically your personal property (your belongings) and your personal liability. It is always important to take inventory and have an idea of how much contents coverage you should have if a loss destroyed it all. With personal property coverage, your agent should explain if those contents are covered on replacement cost or actual cash value. Actual cash value policies are generally less expensive, but your personal property is depreciated, therefore, leaving you unable to replace some items.

3. Be aware of your personal liability exposures. Talk with your agent regarding which limit of liability should be on the policy. Many policies have exclusions to personal liability as well; review those exclusions with your agent to make certain you have coverage if the claim arises. For example, certain dog breeds are excluded for liability if a dog bite occurs. If you have a dog or plan to purchase/adopt one, make that call to your agent. 

4. Be aware of what is excluded. Floods and earthquakes are not covered by your renters policy. Depending on where you live, these are two coverages that you may want to have as well. An agent can add those specific coverages to your policy for additional cost, but also additional peace of mind. 

When you purchase renters insurance, your hope is that you will never need to use it. If the day comes and you do, that relationship you built with your agent will make the process all the better. Depending on the claim and its severity, you should always make your landlord aware, contact the police if necessary, call your agent, document your loss (what belongings were damaged), and be available to the company and agent. Realize the more quickly you file your claim and more thoroughly you document, the faster the claim will be processed.

When you call your agent, be ready to provide your policy number and all the information you currently have about the incident. Your agent can verify the time limit for filing your claim, your coverage, and whether the amount of your claim will be higher than your deductible.

Questions about renters insurance coverage? Contact Wallace & Turner at (937) 324-8492 in Springfield, (937) 652-8492 in Urbana, or info@wtins.com. 

9 Must-Have Types of Insurance Policies

Raise your hand if you like paying for insurance. We’re guessing not many hands are up. Insurance is tricky because it’s an intangible product, but it’s also security in the instance you suffer a financial loss. Now raise your hand if you would be able to come out of pocket to pay for your totaled car and personal injuries, if your house burned down in a fire, or if someone hacked into your computer and stole $10,000 from your bank account. Again, it’s likely not many hands are up. Paying a nominal amount now for insurance, can save you a lot in the long-run and even prevent you from financial ruin.

While there are a range of insurance coverage options that may be needed based on your individual situation, we’ve broken down the nine must-have policies.

1. Auto Insurance

2. Homeowners/Renters Insurance

3. Flood Insurance

4. Umbrella Policy

5. Health Insurance

6. Long-Term Disability Insurance

7. Term Life Insurance

8. Long-Term Care Insurance

9. Identity Theft Protection

Auto Insurance

According to the Insurance Information Institute, the average loss per claim on cars is around $4,900. That’s a substantial amount of money to pay if you don’t have car insurance coverage.

We should also point out that it’s illegal to drive uninsured, so at a minimum, you need to follow Ohio’s (or your state’s) insurance requirements.

In Ohio, the state requires drivers to purchase Bodily Injury Liability Coverage as well as Property Damage Liability Coverage. The required minimum for Bodily Injury Liability Coverage is currently $25,000 per person injured in any one accident and $50,000 for all persons injured in any one accident. The required minimum for Property Damage Liability Coverage is $25,000 for injury to or destruction of property of others in any one accident.

Keep in mind that the above is the minimum required, and you should consider what you may have to lose if you cause an accident. If you don’t have adequate auto insurance coverage, the victim may take any of your assets to cover the cost of damages. It’s best to talk with your independent insurance agent to determine the level of coverage you should have to protect yourself.

Homeowners and Renters Insurance

Ohio is the 24th least expensive state in the country for home insurance. A standard homeowners policy includes coverage for:

• Dwelling: This pertains to the cost of repairing or rebuilding your home in the event of a loss caused by a covered peril such as wind, hail, lightning or fire.

• Liability: If you're sued by a visitor in your home following an accident, this will cover legal expenses whether you’re found responsible or not. In certain situations, it may help cover damages that stem from an accident that happens when you're away from home. Liability will also cover costs for damage to your neighbor’s property.

• Medical payments: If a guest in your home or on your property is injured, this will help pay for their medical expenses.

If you’re a renter, it’s important to purchase insurance to cover your belongings if they are lost in a fire, burglary or other disaster, and never assume your property or expenses will be protected by your landlord’s insurance. Renters insurance can also extend to personal belongings stolen or damaged from your car, or even a storage unit you rent.

The amount and type of homeowners or renters coverage you need will depend on the value of your home, personal property, unique or expensive items, and personal liability to determine the right policy.

Flood Insurance

Flooding is the largest natural catastrophe, and largest single event natural catastrophe, that ever occurs. Two-thirds of flood activity occurs in areas that are not high flood zones, i.e. it's flooding in places that may have never flooded before. Moreover, it’s reported that only seven percent of homeowners have flood insurance! It can take only an inch of water to cause thousands of dollars in damage to your home.  

Floods are not covered in homeowners or renters insurance, but anyone can get coverage as a supplement to their policy. 

Personal Umbrella Insurance

An umbrella policy covers claims in excess of your homeowners or auto insurance coverage. It’s an added layer of protection if you cause injury or damage to another person or their property.

For example, if you run a red light and cause a multi-vehicle accident, the cost of car repairs and medical expenses, not to mention any lawsuits you may face, could quickly add up well beyond your auto coverage. Without an umbrella policy, your assets, including your home and future wages, could be used to pay for the losses. This is a scary thought for most. Ask your insurance agent about increasing your liability coverage with a personal umbrella policy to safeguard you and your family.

Health Insurance

As reported by CNBC in 2019, 66.5 percent of all bankruptcies were tied to medical issues —either because of high costs for care or time out of work. An estimated 530,000 families turn to bankruptcy each year because of medical issues and bills, research found. It’s evident that most families don’t have enough saved for a simple emergency, let alone thousands of dollars in unexpected medical costs.

Even if you are healthy or don’t visit the doctor often, it’s critical to have some level of health insurance in place, otherwise, you’re leaving yourself exposed to potential financial catastrophe. At a minimum, consider a high-deductible plan where you pay more up-front medical costs, but have a lower monthly premium. 

Long-Term Disability Insurance

No one anticipates a life-impacting injury or illness happening to them. Unfortunately, the U.S. Social Security Administration says that approximately one in four 20-year-olds will become disabled before they retire. That’s a scary statistic, but by purchasing long-term disability insurance (LTD), you can protect yourself and your family if you’re unable to work for several years or even decades.

If your employer doesn’t offer an LTD policy, you can take out a supplemental policy. Expect to undergo a medical exam and be aware that any pre-existing conditions you have, could affect your coverage. The more complex your health history is, the longer it could take to approve coverage.

Term Life Insurance

If you have a spouse and/or children that depend on you financially or your death would be a financial burden for them, purchase a term life insurance policy. This type of policy guarantees payment if the covered person dies during a specified term – typically 10, 20 or 30 years. If the policy expires before your death, there is no payout. The policyholder can then choose to renew for another term, convert to permanent coverage or simply terminate the policy.

In comparison to permanent life coverage, term life insurance is less expensive but has no cash value or savings component. Term life premiums are based on a person’s age, health, and life expectancy. 

Long-Term Care Insurance

The U.S. Department of Health and Human Services reports that 70 percent of those turning age 65 today will need some type of long-term care, e.g. nursing home, assisted living or in-home care. Long-term care will cost you $140,000 on average if you pay out of pocket. These expenses will quickly deplete the savings of most individuals and/or their family.

Don’t think that you can rely on Medicare to cover long-term care costs – it doesn’t. Medicaid, the government’s program for people who don’t have money to cover these costs, isn’t a reliable fallback either. Throughout the U.S., doctors are reducing the number of Medicaid patients they accept.

Long-term care policies can be expensive and complex. Be sure to work with an insurance professional that can explain your options and help you find the best price based on your particular situation, age, health, etc. 

Identity Theft Insurance

Victims of identity theft may face lower credit scores, difficulty obtaining credit or loans, and even finding employment. This is an especially stressful and frustrating situation that can take months or years to recover from. Your homeowners or renters policy provides limited coverage for loss of this nature, so it’s smart to protect yourself with a dedicated policy.

An identity theft policy is designed to help victims recoup costs related to reclaiming their financial identities and repairing credit reports. This can include replacing documents such as a driver’s license and passport, notarizing affidavits, obtaining credit reports or paying for fees charged by an attorney for necessary legal action. 

Questions about insurance coverage? Contact Wallace & Turner at (937) 324-8492 in Springfield, (937) 652-8492 in Urbana, or info@wtins.com. 

Why Are Insurance Policies Impossible To Read? – Forbes Interviews P.J. Miller

P.J. Miller

Many policyholders believe insurance contracts are a nearly impossible-to-solve puzzle for the average person. So, what makes them so hard to understand?

An insurance policy is a legal document that has to hold up in court. That’s why you see lots of legalese and specialized terms in an insurance contract.

“Simple language opens things up to ambiguity,” said partner P.J. Miller. “And ambiguous contracts are prone to be torn apart by attorneys. In court, ambiguous policy language can work in favor of the consumer.”

Miller added: “Years ago, insurance contracts were easier to understand. But over time, new laws, regulations, court cases and differing opinions started to add complexity to the contracts.”

In other words, insurance contracts are complicated because they have to cover all their bases in case of a lawsuit or a large claim. Increased regulation has pushed insurance companies to make the contracts denser, making them difficult to read for the average policyholder.

Before you pay for any insurance policy, be sure to take the time to read and understand it. Get help if needed, so that you know what coverage you are—and aren’t—paying for. 

Read the full Forbes article.

Questions about purchasing an insurance policy, or understanding your current one? Contact Wallace & Turner at (937) 324-8492 in Springfield, (937) 652-8492 in Urbana, or info@wtins.com.

Evaluate Your Insurance Coverage & Assess Your Risk - National Insurance Awareness Day

National Insurance Awareness Day falls on June 28th each year, reminding us that it’s a good idea to regularly review our insurance policies. Did you buy a new home or make upgrades to your existing home? Is a child heading off to college? Are you covered in the instance of a flood? Have you considered data and cyber insurance for your business? As life changes, so should your insurance coverage. Contact your insurance agent to evaluate your coverage and assess your risk.

Homeowners Insurance Deductible: How to choose the right one – P.J. Miller Interviewed by Insurance.com

P.J. Miller

Homeowners insurance deductibles are an important part of a home insurance policy. A deductible decides how much you will have to pay when you file a claim and affects your policy’s cost. Typically, the higher your homeowners insurance deductible, the lower your premium.

What’s the average homeowners insurance deductible?

“Not all that long ago, a $100 deductible was the standard deductible amount, but in keeping with inflation, the standard moved to $250. As property claims started to escalate and new coverages were developed, it wasn’t long until $500 became the new standard,” said partner P.J. Miller.

P.J. added that many insurers also offer disappearing deductibles. In those cases, companies reduce your deductibles if you have no claims over a period. So, your $500 deductible may shrink to $100 if you haven’t filed a claim in three years.

P.J. said some insurers have also attached higher deductibles to roof claims. Insurers usually want homeowners to replace their roofs after 20 or 30 years. Roofs protect the homes against the elements. Home insurance companies often check a homes’ roofs to make sure they are in working order.

Additionally, P.J. noted insurers have increasingly attached a higher deductible for roof damage as wind and hail claims have increased in recent years.

What’s the right home insurance deductible?

The homeowners insurance deductible that’s right for you depends on your financial situation.

“Go with the highest deductible you’re comfortable with, whether that’s psychologically or monetarily,” P.J. said. “And don’t think about it on a one-year basis as that tends to skew the thinking because you want to reduce your homeowner premium as much as possible over the course of your homeownership. A substantial deductible like $1,000 or $2,500 might save you $100 or even $200 to $300 or more on an annual basis, and after five years, you’ve put a dent in that homeowner premium.”

Continue reading the full article to learn more about homeowner deductibles and how to choose the right amount for you.

Questions about homeowners insurance? Contact Wallace & Turner at (937) 324-8492 in Springfield, (937) 652-8492 in Urbana, or info@wtins.com.

How to Save Money on Homeowners Insurance – P.J. Miller Discusses Strategies With TheStreet

P.J. Miller

Insurance for a home protects homeowners and their personal items in case of damage caused from a storm or theft to more major issues such as a fire. Partner P.J. Miller spoke to TheStreet to share ways homeowners can save money on their insurance premium. 

1.     Increase Your Deductible 

“While a $500 deductible sounds more affordable, increasing it to $1,000 will trigger a rate reduction,” said P.J. “Be aware that you'll need to cover more of the cost in the instance of a claim, so be sure to set aside money, just in case.”

2.     Combine Your Coverage

Check with your insurance provider if bundling your auto coverage with your home or renters' insurance policy can yield additional savings. “Showing your loyalty to one insurer could help you land a discount, especially if you have multiple policies,” P.J. said. “Renew your plan early and you could get a discount as well.”

3. Maintain a Good Credit Score

Most insurance carriers use credit as a portion of the rate-setting process in states where it is permitted. “While it is supposed to be a ‘portion’ of the rate calculation, most believe it plays a significant role in determining price,” P.J. commented.

4. Reduce Your Exposure to Perils by Upgrading Your Home

Install a security system, replace outdated plumbing and electrical systems, or install a new roof or energy efficient windows. “Speak with your insurer to confirm the upgrades make financial sense in comparison to the discount you'll be receiving,” P.J. said. 

5. Speak With an Independent Insurance Agent 

“Independent insurance agencies work with a range of carriers and can ‘shop around’ for homeowners to find a variety of insurance options,” P.J. commented. “There are often discounts and credits available within certain coverages and an agent could help you take advantage of these savings.”

Continue reading the full article to learn additional ways to save on your home insurance.

Questions about homeowners insurance? Contact Wallace & Turner at (937) 324-8492 in Springfield, (937) 652-8492 in Urbana, or info@wtins.com.

Is Home Insurance Worth It? – P.J. Miller Discusses Reasons You Should Have a Homeowners Policy with ChatterSource

P.J. Miller

Buying a home is a huge step for many people and there are numerous expenses that go along with the purchase. It can be difficult for homeowners to know what to buy or not. Is a home warranty worth it? Should you get home insurance and what amount? ChatterSource spoke with partner P.J. Miller to discuss reasons you should get homeowners insurance.

“There are also situations you may not have thought of when your homeowners insurance will kick in. For example, if you have a child that is a student living in a campus dorm room, if they experience a burglary or similar type of loss, most homeowner policies will extend liability and personal property protection – this is considered ‘off premise’ coverage.”  

He added: “The type of coverage you need will depend on the value of your home, personal property, unique or expensive items, and personal liability to determine the right homeowners policy. An insurance agent can customize a policy, so be prepared to provide extensive information so they can quote the best rate for a policy.”  

While home insurance can seem like an additional expense, there are many ways that you can save money by having a homeowner’s policy. Bundling with your car insurance will often allow you to get a discount, either on your home or car insurance.  

Continue reading the full article. 

Questions about homeowners insurance? Contact Wallace & Turner at (937) 324-8492 in Springfield, (937) 652-8492 in Urbana, or info@wtins.com.

Does Homeowners Insurance Cover Roof Damage & Leaks?

Spring is here and it's time to see how your roof weathered the winter. After sustaining months of low temperatures, snow, ice and harsh winds, it’s important to check your roof to prevent maintenance and liability issues down the road. Because spring is not without its own inclement weather, what started off as a minor issue could turn into major damage. Wind and hail are the most common causes of roof damage, affecting roughly 1 in 50 homeowners, with more than $10 billion in annual property loss, according to the Insurance Information Institute. Your home’s roof is the first line of defense against the elements, but if it’s not properly cared for, your homeowners insurance may not cover a loss.

Will Homeowners Insurance Pay for Roof Damage?

The dwelling coverage section of your homeowners insurance policy protects the structure of your home, including the roof, from perils such as wind, fire and hail damage. If your roof is damaged due to a hailstorm or heavy winds cause a tree to fall on your home, your dwelling coverage would cover the cost if you file a claim. If the damage occurs to an unattached structure on your property, such as a shed or detached garage, you may be covered by the “other structures protection.” Similarly, if the contents of your home or garage are damaged, “personal property coverage” would help to replace or repair them. 

Keep in mind that you will need to pay your deductible before your homeowners insurance kicks in to pay for repairs and loss. It’s also important to note that some homeowners policies have windstorm and hail exclusions, meaning damage from either would not be covered. You may consider a separate deductible applied to your homeowners policy to cover wind and hail damage. Wind and hail deductibles are typically anywhere from 1-10% of your dwelling coverage amount. Understand what your coverage limits are and talk to your insurance agent to develop a policy that fits your needs. 

Does Homeowners Insurance Cover Roof Leaks?

Homeowners insurance will pay for a roof leak if it is caused by a covered peril. Examples of common insured risks include falling trees and limbs, windstorm, hail, issues caused by snow, ice or sleet as well as vandalism.

A leak and resulting damage will not be covered due to lack of maintenance, or wear and tear. A home insurance policy isn’t meant to be a maintenance policy and an insurer will expect the homeowner to be responsible with upkeep and repairs. Homeowners insurance policy are designed to cover damage that is sudden and accidental, rather than damage that accumulated over a number of years, such as an aging roof or unresolved maintenance issues. For example, if you experience a severe thunderstorm and your roof begins leaking, if it’s determined that the roof had been rotting for some time without being repaired, your insurer could conclude the damage was gradual and deny your claim.

Common policy exclusions that could cause a roof leak include:

• Neglect

• Mold, fungus, or wet rot

• Wear and tear, and deterioration

• Settling, shrinking, bulging or expanding

• Birds, vermin, rodents and insects 

Coverage is also limited for roofs older than 20 years old. They are typically insured at their actual cash value, meaning you’re only reimbursed for the roof’s value after 20+ years of depreciation.

Your insurer may deny a homeowners claim for the above reasons, which is why it’s important to conduct regular roof inspections. If you’re planning to buy a home, be sure to learn the roof’s age and condition, and address any issues before the sale is complete.

Protecting Your Roof and Home

As your roof ages and is impacted by severe weather, its ability to protect lessens. Manufacturers provide an estimated lifetime rating for roof shingles, but that’s under ideal circumstances, not actual conditions that typically occur in Ohio, like snow, hail and thunderstorms.

Aside from weather, there are other factors that can affect the lifetime of a roof shingle:

• improper installation

• improper ventilation

• slope of the roof

Here are six ways you can make sure your roof is in good shape and will protect your home:

• Inspect your roof regularly so you can be on the lookout for early signs of failure. Check for loose, missing or curling shingles; growing moss or algae; waves or ridges in the roof line that can indicate problems with the roof decking or framing.

• Clear any fallen branches or other debris, and don’t forget about gutters – built-up leaves and even animal nests should be removed.

• Keep trees trimmed to avoid leaves, branches, pods from falling on the roof and clogging up gutters.

• Check transition points in the roof for wear and tear. For example, where the roof meets the chimney or a skylight. This can easily create opportunities for water to enter the home.

• If you notice any area of concern, contact a roofing contractor to inspect and make necessary repairs. It’s best to leave roof repairs to professionals to prevent a more serious issue that could result in an entire roof replacement.

• Replace your roof when age or conditions indicate that it won’t be able to adequately protect your home. Replacing a roof can be expensive but it may be your only option if you want to avoid larger, and potentially even costlier repairs. Let your insurance agent know when you replace the roof so you can insure your home for the proper value.

Filing a Roof Replacement Claim

If your roof is damaged after a storm or other covered peril, here are steps to file a claim:

• Take photos of the roof and damage.

• Hire a contractor to make immediate repairs to prevent further damage to your roof and the inside of your home.

• Contact your insurance company to determine if the roof damage is covered.

• File an insurance claim with your insurer.

• Schedule an appointment with for your insurance company to inspect the damage. 

Questions about roof damage or filing a homeowners claim? Contact Wallace & Turner at (937) 324-8492 in Springfield, (937) 652-8492 in Urbana, or info@wtins.com.

Damage Caused by Fallen Trees: Understanding Homeowners Insurance Coverage

Fallen trees or branches on a home are often the unfortunate result of severe storms and high winds. Whether a tree fell on your home or onto your neighbor’s, you’re probably left wondering, who is responsible for the damage? Let’s examine a few scenarios.

My Tree Damages My Property 

If a tree on your property falls and damages your home or related structure such as a detached garage, typically your homeowner’s insurance policy will kick in to cover the cost of repairs and cleanup of the property, after you pay your deductible. Covered perils generally include damage caused by wind, lightning or hail, i.e. acts of nature. 

The coverage limit you’ve selected for your homeowners insurance policy determines how much your insurance company will pay for the damage. You may have separate coverage limits for dwelling and other structures coverage. Dwelling coverage helps pay for repairs of your home if the damaged is caused by a covered peril. Other structures coverage helps pay for repairs or to replace structures on your property such as a fence, shed, gazebo or swimming pool.  

What Homeowners Insurance Won’t Cover 

Your homeowners insurance will not cover damage if a tree falls on your car; however, you may be able to file a claim if you have comprehensive coverage on your auto insurance policy. Comprehensive coverage can help pay for repairs or replace your car if it’s damaged or totaled by falling objects, like a tree. This is optional coverage on your car insurance policy, unless you lease or finance your vehicle. In that case, your lender may have required you to purchase comprehensive coverage which would ensure you have insurance for this type of damage. If you file an insurance claim on your comprehensive coverage, be aware that your deductible and coverage limit will affect what you pay out of pocket.

If a tree falls and you don’t need any repairs, typically your homeowners insurance policy will not cover tree or debris removal, unless it creates a dangerous obstacle like blocking a driveway or road.

Your Neighbor’s Tree Damages Your Property

If your neighbor’s tree falls and damages your house or other structure due to a covered peril, this would be covered by your homeowners insurance policy (not your neighbor’s).

It’s important to note that there are instances where a tree falls and causes damage unrelated to Mother Nature, and insurance coverage may be handled differently. If the tree fell due to negligent upkeep – it was dead or diseased – you may have a case that your neighbor is responsible for the damage, and therefore, their insurance policy would pay. This can be difficult to prove unless you have documentation that you asked the neighbor to remove the dead/dying tree before it fell.

Another scenario is that your neighbor attempts to cut down a tree or large branches, and in the process, those fall on your house. If it can be proven your neighbor was negligent and didn’t take proper precautions, they could be held liable and forced to pay for damages.

My Tree Damaged My Neighbor’s Property

If your tree falls on your neighbor’s house, their insurance policy would cover the loss. So the general rule of thumb is, the owner of the damaged property will file the insurance claim. Your neighbor could decide to sue you to cover their deductible, in which case, your insurer would be required to defend you and investigate the claim. And similar to the above, if you were found negligent of caring for the tree, your insurance policy would have to cover the damage. 

Avoiding a Homeowners Insurance Claim 

The best way to minimize damage from your own trees is to properly care for them and prepare before extreme weather. If the tree appears to be diseased or dying, have it inspected by an arborist to determine if it needs to be removed. This may seem like an unnecessary expense, but it can save you money in the long run. Poor maintenance will not be covered by homeowners insurance.

Of course, it’s also good to have a relationship with your neighbor and discuss any concerns before accidents and damage occur. 

Questions about homeowners insurance coverage or claims related to fallen trees? Contact Wallace & Turner at (937) 324-8492 in Springfield, (937) 652-8492 in Urbana, or info@wtins.com.

Don’t Wait for a Tornado to Strike – Protect Your Family & Home With These Severe Weather Planning & Insurance Steps

Spring Severe Weather Awareness Week in Ohio falls in March each year, but it’s important to stay alert throughout the spring into summer when tornados are most likely to occur.

Don’t wait for severe weather to strike – have a household plan in place now so you’re not caught off guard in the instance of a tornado or other disastrous storm. Preparation is key to staying safe and minimizing potential loss. Below are steps to take before, during and after a tornado.

Planning Before a Tornado Strikes

• Ensure your family knows the signs of a tornado. A tornado is a violently rotating column of air touching the ground, usually attached to the base of a thunderstorm. Tornadoes appear to be a funnel-shaped cloud, an approaching cloud of debris, or a loud roar approaching. The sky often appears dark and greenish, and storms produce heavy rains, flash floods and hail.

• Pay attention to the weather forecast. Meteorologists can often forecast when conditions are right for a tornado to develop. A WATCH means a tornado is possible; a WARNING means a tornado is already occurring or will occur soon and you should take cover immediately. Don’t assume a watch won’t turn into a warning; take precautions and don’t risk your safety.

• Identify a safe place to gather in your home. Ideally an underground shelter with no windows – a basement, cellar or even an interior room at the lowest level of the house. Make sure everyone in your household understands to go to this designated area during a tornado. If you’re in a mobile home, find an alternative location you can go to such as a local emergency shelter.

• Learn about your workplace and children’s school emergency plans. Every building has a different plan of action. Talk to your child’s school or daycare and understand their emergency plan. You’ll feel much better if you know exactly where your child is during a storm.

• Create an emergency kit. Essential items to include: first aid kit, water and nonperishable food, manual can opener, flashlight, battery powered radio, extra batteries and a whistle. If you have a baby or pets, keep in mind you’ll want to have diapers, formula and extra food on hand. If you require medications, try to keep extra prescriptions in your kit. Also consider keeping important documents here such as birth certificates, insurance policies, a household inventory and ownership certificates (cars, boat, etc.)

• Prepare your home. If a tornado is approaching and you have time, turn off utility switches and valves. Secure or bring inside anything that could be picked up by the wind. Close curtains and blinds to prevent shattered glass from flying.

• Practice your plan. Teach your family how to administer basic first aid, how to use a fire extinguisher, and how and when to turn off water, gas, and electricity in your home. Conduct a family tornado drill to ensure everyone understands the plan.

• Confirm your insurance coverage. Tornado losses will typically be covered under “windstorm peril” in your homeowner’s insurance policy. Ensure you have adequate coverage and alert your insurance agent to any improvements, home inventory additions, etc.

What to Do During a Tornado

• Take immediate cover. Go to your designated safe room in your home or other shelter – remember to avoid areas with large glass windows or large open areas. Do not try to outrun a tornado in a car. Listen to weather reports for storm updates.

• Further shield your body. Cover your head and neck with your arms. Put other materials around you such as blankets and large pieces of furniture.

• Don’t leave shelter until it’s safe to do so. The tornado may pass but can still produce high winds, flying debris and weak tree branches that can fall and cause injury. Tune in to EAS, NOAA Weather Radio or local alerting systems for current emergency information and instructions.

Steps to Take After a Tornado

• If you are injured or trapped, don’t move. Cover your mouth with cloth to avoid breathing dust. If you have access to a phone, call or send a text. Otherwise, make noise by banging on a pipe or using a whistle.

• Continue listening to authorities for updated information. As previously mentioned, there can be continued severe weather following a tornado. Don’t go outside or move about until it has been cleared.

• Use extreme caution when assessing damage. Wear thick-soled shoes, pants, long sleeves and work gloves. Watch out for downed power lines and do not attempt to remove heavy debris by yourself.

• Take photographs/video of property damage. This will assist in filing an insurance claim and you should notify your insurance company of any storm-related losses as possible. Prevent further damage by covering up windows, putting a tarp over holes in your roof, etc.

Additional tornado safety resources:

American Red Cross Tornado Safety

Ohio Committee for Severe Weather Awareness Tornado Facts & Safety Tips

National Weather Service Tornado Safety

Federal Emergency Management Agency (FEMA) – Be Prepared for a Tornado

Questions about homeowner’s insurance coverage for tornadoes, flooding or other severe weather? Contact Wallace & Turner at (937) 324-8492 or info@wtins.com.

Creating a Home Inventory for Homeowner’s Insurance (Why You Should Do One Today)

P.J. Miller

If your home and possessions were destroyed in a tornado, fire or other disaster, would you be able to remember everything you owned to file an insurance claim? For most of us, the answer is no. Spring is around the corner in Ohio, and unfortunately this brings tornado season and other severe weather that could be devastating in the worst-case scenario. It’s also the time of year for spring cleaning which means getting organized and ideally, creating a home inventory for insurance purposes.

A home inventory can be your best friend when you need to file a home insurance claim. Having an up-to-date list of your possessions with details such as the age and estimated value of each item will help settle your insurance claim faster, verify losses for your tax return and ensure you purchase the correct amount of homeowner’s insurance from the outset. The task of itemizing your personal property may seem daunting, but it doesn’t have to be.

What Your Home Inventory Should Include

• Start with big and valuable: Jewelry, major appliances, electronics, rugs and collectibles. If you have any items that are particularly valuable such as artwork or a fur coat, itemize those separately and check with your insurance agent to see if you need separate insurance coverage. Then you can move on to smaller items like clothing and books – no need to identify items individually, just the total number in each category, for example: 25 pairs of shoes and 10 pairs of pants. Tip: Start in a small room and work your way around the house so you won’t feel overwhelmed.

• Detailed descriptions: Describe each of the major items you’re recording with details such as where and when you bought it, what you paid, what condition it’s in, make and model, and any other details that would be important for a claim.

• Proof of value: Copies of sales receipts, estimated or appraisal value and purchase contracts will help settle the personal property portion of a loss. This is particularly important for valuable items. While there’s no physical value attached, you should also keep copies of financial and legal records with your home inventory to ensure these are replaced if there is ever a disaster.

• Don’t forget off-site or stored possessions: Items in a self-storage facility will be covered by your homeowner’s insurance and should be included in your inventory. Never put out the good China and have it stashed away in your basement? That should be documented as well.

How to Create a Home Inventory

There are a few methods to consider: pen and paper, spreadsheet, photos/videos saved to an external source (e.g. the cloud) or a home inventory app. There’s no right or wrong, but you should choose the one that will get you moving on this today, and you’ll keep organized and up to date.

• Pen and Paper: This is an inexpensive way to track your items and something you already have access to in your home. You can easily move from room to room documenting everything. However, this requires you to keep a hard copy on file and may not be the most effective list to hand over in the instance of a claim (how legible is your handwriting?).

• Spreadsheet: A spreadsheet program such as Microsoft Excel or Google Docs will keep you organized and makes it easy to add or delete items as needed. The main drawback is that spreadsheets aren’t very user friendly on phones or tablets, so you’ll need to carry your laptop with you as you record, or go back to your desktop computer. You can start with pen and paper, and then record it in a spreadsheet, but this creates a two-step process and reduces the chance you’ll take the time to start.

• Photos and Videos: Most of us rely on our mobile phones for just about everything and one more use can be your home inventory. You can quickly walk into each room and take photos and/or videos, but you’ll need to make sure you’re saving everything where it can’t be lost such as iCloud or a thumbdrive stashed in a fireproof safe—just don’t save it to your home computer hard drive. Too, you’ll still need to record all purchase/value details requiring a separate document or print the photos and write information on the back (another extra step).

• Inventory App: There are several advantages to using an app: easily add photos of the items and receipts, data is safely stored, and you can access from anywhere. You’ll have to type in details which can be a bit tedious but no more than writing down information or entering into a spreadsheet.

Once you’ve compiled your initial list, send it to your insurance agent to determine if you’ll need additional home insurance or renter’s coverage. However, creating a home inventory doesn’t stop there—be sure you’re regularly updating with new purchases and keeping your appraisals current. Make a habit to add items as soon as you get them, so receipts are handy.

Additional Home Disaster Tips

Now that you’re on your way to getting an inventory in place, it’s important to go beyond this and have a family action plan ready if a disaster strikes. Below are a few more things to think about:

• Have an emergency bag ready to go with essentials. If you wake up in the middle of the night to a house fire, you may be forced to run out the door with only the clothes on your back. If you have a bag close by (under your bed or in a nearby closet), you can hopefully grab that and have a few things that are important to you. It’s helpful to include insurance and other key contacts here if you don’t have them readily available otherwise.

• Plan for animal care. An insurance company will typically cover $5,000 for necessities and put you up in a hotel or apartment, but if the housing doesn’t take animals, you’ll need to board your furry friends or have other arrangements.

• Once you’re in a safe place, contact your insurer. Let them know what happened and where you can be reached. Do not return to your home until it’s safe to do so.

Questions about homeowner’s insurance or recovering from a disaster? Contact Wallace & Turner at (937) 324-8492 or info@wtins.com.

Super Bowl Parties and Social-Host Liability Laws – P.J. Miller Discusses Homeowner Insurance Coverage with InsuranceQuotes

Throwing a party on Super Bowl Sunday is one of America’s most enduring social traditions. According to a report from Statista, it is the second-largest day for food and alcohol consumption behind Thanksgiving. But what happens when your partygoers have a little too much fun? The combination of food, alcohol, and fan passion can sometimes lead to unintended calamities, which can include everything from damaged personal possessions to drunk-driving accidents. In addition to knowing the legal ins and outs of throwing a Super Bowl party, hosts should also know what their insurance may or may not cover in the event of an accident, either in the home or after someone leaves.

What about accidents caused by those who are legally allowed to drink alcohol? In an interview with InsuranceQuotes, Partner P.J. Miller said this is where things “get a little stickier.”

“The first thing a host needs to check are his or her homeowner insurance liability limits, which typically fall between $100,000 and $300,000, although I would strongly urge all homeowners to carry $500,000 at a minimum,” he commented. “After considering the value of your home and other assets, consider increasing the liability limit well before hosting a large event like a Super Bowl party.

What’s more, homeowners can also purchase an umbrella policy, which offers additional financial protection if the host maxes out his or her standard liability limit.

“Homeowner policies—and hopefully the personal umbrella that you have—should provide ‘Host Liquor Liability,’ which means you didn’t sell the beer to your guests, you merely provided it,” said Miller. “Keep in mind that gross negligence can not only be an insurance claim, it can also carry with it some civil and criminal implications. A personal umbrella policy would offer broader coverage and would also give you coverage for renting a location to hold a party where the homeowner’s policy coverage would be very limited.”

Of course, there are myriad non-alcohol-related accidents that may arise before, during, or after a Super Bowl party, in which case Miller says a typical homeowner policy should provide adequate coverage.

“For example, someone might trip and fall on an icy sidewalk leading to your house, guests might choke on food, or there might be fights between guests resulting in broken items. Typically, homeowner policies offer some protection for these types of non-alcohol induced accidents, but you might want to carefully review your policy just to be sure.”

He added: “None of this should scare you off from hosting a party, but be sure to review your homeowner’s policy to understand what it will and will not cover in the instance of an accident.”

Read the full article at InsuranceQuotes.

Questions about your insurance liability when hosting a party? Contact Wallace & Turner at (937) 324-8492 or info@wtins.com.

Hosting a Super Bowl Party? Understand the Xs and Os of Your Home Insurance First

Ben Galbreath

One of the biggest sporting events in the world is around the corner…naturally we’re talking about the Super Bowl. Whether your team is playing or not, chances are, you are either hosting or attending a party for the big game. While Super Bowl festivities are typically all fun and games, as an independent insurance agent, we have been conditioned to look for possible problems within every event to evaluate any potential loss and protect the assets you have worked so hard to build.

If you are planning to host a party, there are myriad potential accidents and occurrences that you need to keep in mind beyond your checklist of ordering pizzas, picking up ice and putting out plenty of chairs. For example: trip and falls on an icy sidewalk leading to your house, guests choking on food, fights between guests, pet attacks, broken items, guests’ missing personal property. And probably the biggest item to think about is alcohol intake – are you providing an unlimited amount of alcohol? When should you cut-off guests and how can you ensure they’re taking a cab or Uber? What if they fall while intoxicated? You may be liable for any of these situations, and unfortunately, when it comes to friends and family, the loss usually gets nasty and harder to resolve; it also depends on the severity of the event.

Typically, homeowner policies might offer some protection for the non-alcohol induced accidents mentioned above, but when it comes to the injuries, accidents of a non-motorized variety or the motorized kind, then things get a little stickier. Allowing someone to leave “after a few” is the misconception that it’s okay because, “they’re not drunk” (Note current advertising efforts: “Buzzed driving is drunk driving.”)  Now you’ve put yourself in the same position of your favorite bartender, meaning, “How do I get this friend out of here, safely and politely?”  And you thought the Super Bowl was going to be fun and relaxing!

Homeowner policies (and hopefully the Personal Umbrella that you have) should provide “Host Liquor Liability,” meaning you didn’t sell the beer to your guests, you merely provided it – while designed for this very situation, keep in mind that gross negligence can not only be an insurance claim, it can also carry with it some civil and criminal implications. A Personal Umbrella policy would offer broader coverage and would also give you coverage for renting a location to hold a party where the homeowner’s policy coverage would be very limited.

Generally speaking, as the host, your liability is fairly broad when it comes to your exposure. If things transpire into a lawsuit, your coverage would respond depending on how the lawsuit was written. You will need to notify your insurance company as soon as you receive the paperwork, and to trigger your liability coverage, attorneys will need to be involved. Liability coverage could respond in the event of being served with a lawsuit and/or you are found liable for the loss within the limitation of coverage. The cost is paying an attorney to defend you. The attorneys are usually provided by your insurance company if coverage is going to respond.

In the event of a medical visit to the hospital from an event on your premium, medical payments could come into play to help the guest with their medical bills.

The above shouldn’t scare you off from hosting a Super Bowl LIV party, but be sure to review your homeowner’s policy to understand what will/will not be covered in the instance of an accident. It’s also a good idea to take precautions such as locking up your valuables, keeping pets in a separate room, hiring a bartender, offering to let guests stay over and/or calling for cabs and Ubers.

Questions about your homeowner’s insurance? Contact Wallace & Turner at (937) 324-8492 or info@wtins.com.