Homeowner Water Damage Claims

 In a recent survey by Chubb Insurance Group, nearly 40 percent of respondents reported that they had experienced some form of water damage to their home.

The survey reported that few homeowners are doing all the things they should in order to avoid water damage to their homes:

• 31 percent never inspect washing machine hoses
• 36 percent do not inspect toilets
• 61 percent do not inspect water heaters
• 97 percent do not have a moisture or water detection system

Most water damage claims result from accidents that occur within the home, not from weather-related events. In 2010, the average cost of these claims was a little more than $4,000. The Chubb survey noted that more than 50 percent of respondents did not have enough coverage to deal with potential water damage.

Water restoration experts recommend property owners do the following immediately after water damage occurs:

• Remove as much water as possible by mopping and blotting the saturated area
• Wipe furniture to remove excess water
• Place aluminum foil between furniture legs and wet carpet
• Prop up wet furniture cushions for even drying
• Lift drapes off flooring, loop through a coat hanger and hang on curtain rod
• Remove wet area rugs
• Turn on air conditioner if damage occurs in summer
• Move valuable paintings, art objects and photos to a safe and dry place
• Open closet doors, furniture drawers and luggage to aid in drying
• Remove any wet fabrics and dry immediately
• Hang furs and leather goods to dry separately at room temperature

If you would like to review your coverage as it relates to water damage peril, give us a call.

Reichley Insurance Agency is committed to excellence. We pride ourselves on offering our clients reliable coverage and great service. As an independent Ohio insurance agency, we can provide you with all types of insurance coverage from the top carriers in the country. Our team of trusted agents will work with you to find a policy that meets your needs – and falls within your budget.

 

Our dedication makes the difference...

   

 

 

Toll Free: 87-REICHLEY (877-342-4539)

Email: info@reichleyins.com

 

The information in this article is meant as a guideline only. There is nothing in this publication that alters the coverage or interpretation of any specific policy. Because some statements are generalizations, and because different companies’ policies contain slight differences, please refer to your specific policy. Call our office before making any judgments or decisions concerning your particular situation and coverage that may or may not apply.

 

Keeping Coverages Current

 A home and its contents frequently represent a major portion of a person’s net worth. Failure to keep coverage current could result in a claim not being covered. Whose responsibility is it to maintain adequate insurance coverage? When all is said and done, it is the policyholder’s responsibility to review the policy regularly and inform his/her agent of any needed changes.

Your agent can search through the maze of complex coverages, advise you how to insure your property and help you with claim settlements, but you are the one best prepared to determine what you have that needs covered.

For instance, did you tell us about the remodeling project you did on your home or the jewelry you recently bought or inherited? Did you remember to tell us that you are now operating a business from your home? You need to notify your agent when changes like these occur.

Carefully consider the type and amount of liability coverage you need. Under the standard liability coverage, if a guest slips and falls on your wet patio, you would be covered for the individual’s medical expenses, your defense costs and a specified limit for actual damages. If the amount awarded exceeds your policy’s limits, however, your personal assets could be threatened. A personal umbrella could help you in this case. The umbrella liability policy typically affords $1 million liability coverage and blankets over your auto and home policy. This provides extra coverage if your auto and home policy limits are exhausted.

Don’t be complacent and just file your renewal away. Review your policy and make notes of needed changes or questions. Call us for an appointment so we can make sure you have the coverage that you expect.

Reichley Insurance Agency is committed to excellence. We pride ourselves on offering our clients reliable coverage and great service. As an independent Ohio insurance agency, we can provide you with all types of insurance coverage from the top carriers in the country. Our team of trusted agents will work with you to find a policy that meets your needs – and falls within your budget.

 

Our dedication makes the difference...

    

 

 

Toll Free: 87-REICHLEY (877-342-4539)

Email: info@reichleyins.com

 

The information in this article is meant as a guideline only. There is nothing in this publication that alters the coverage or interpretation of any specific policy. Because some statements are generalizations, and because different companies’ policies contain slight differences, please refer to your specific policy. Call our office before making any judgments or decisions concerning your particular situation and coverage that may or may not apply.

 

Ohio Insurance Rates Among Most Competitive in the U.S.

Earlier this month the Ohio Department of Insurance (ODI) announced 2010 average auto and homeowners insurance rates were among the most competitive in the United States. 

Ohio has the 11th lowest auto insurance and 9th lowest homeowners insurance average premiums in the country, according to the National Association of Insurance Commissioners (NAIC). 

Read more in this article from the ODI.

Reichley Insurance Agency is committed to excellence. We pride ourselves on offering our clients reliable coverage and great service. As an independent Ohio insurance agency, we can provide you with all types of insurance coverage from the top carriers in the country. Our team of trusted agents will work with you to find a policy that meets your needs – and falls within your budget.

 

Our dedication makes the difference...

   

 

 

Toll Free: 87-REICHLEY (877-342-4539)

Email: info@reichleyins.com

 

The information in this article is meant as a guideline only. There is nothing in this publication that alters the coverage or interpretation of any specific policy. Because some statements are generalizations, and because different companies’ policies contain slight differences, please refer to your specific policy. Call our office before making any judgments or decisions concerning your particular situation and coverage that may or may not apply.

 

Advantages of a Personal Property Floater

 One very large advantage to insuring unique and unusual items on a personal property floater is that this policy provides broader coverage than provided by the contents coverage in your homeowners policy. This adds special emphasis to insuring items that, while there is no specific limit in the policy, may be subject to loss from perils that the personal property section of your policy does not provide.
An example might be fine arts, such as a Hummel collection. These fine arts items are especially susceptible to breakage, yet the named perils coverage found in the homeowners policy provides no coverage for simply dropping and breaking your piece of fine statuary.
Some other items with special limitations in the homeowners policy you might seek a higher limit under the personal property floater includes jewelry, precious and semi-precious stones, furs, guns, and silverware, to name a few. While this is an incomplete list, it demonstrates why certain items are limited separately in the policy because of their uniqueness. The modern homeowners insurance policy is written in easy-to-read language the average person can review.
If you are unsure about your coverage after personal review of your policy, contact our office so we can work on this together.
Reichley Insurance Agency is committed to excellence. We pride ourselves on offering our clients reliable coverage and great service. As an independent Ohio insurance agency, we can provide you with all types of insurance coverage from the top carriers in the country. Our team of trusted agents will work with you to find a policy that meets your needs – and falls within your budget.

Our dedication makes the difference...

   

 

Toll Free: 87-REICHLEY (877-342-4539)

Email: info@reichleyins.com

The information in this article is meant as a guideline only. There is nothing in this publication that alters the coverage or interpretation of any specific policy. Because some statements are generalizations, and because different companies’ policies contain slight differences, please refer to your specific policy. Call our office before making any judgments or decisions concerning your particular situation and coverage that may or may not apply.

Special Limits in Your Homeowners Policy

  Your homeowners insurance policy places limits on certain types of property. In you policy there is a section titled, "Special Limits on Certain Property." This section will list various items and place a dollar limit on each type of property - such as jewelry, fine arts or money.

Why do insurance policies contain such provisions? The homeowners insurance policy is written to provide coverage for the average policyholder. Most of us do not own collections or keep large amounts of cash at our homes. While the policy provides some limited coverage for special types of property, it in no way serves the needs of the unique collector.

There is, however, a solution for the collector or owner of unusual property items. It is possible to amend your homeowners policy, by endorsement, to provide special coverage for unique collection items such as coins or stamps. By asking your agent to include a scheduled property floater in your coverage, you can specifically insure items of special interest. The personal property floater also expands coverage for perils not included in the homeowners policy.

Reichley Insurance Agency is committed to excellence. We pride ourselves on offering our clients reliable coverage and great service. As an independent Ohio insurance agency, we can provide you with all types of insurance coverage from the top carriers in the country. Our team of trusted agents will work with you to find a policy that meets your needs – and falls within your budget.

 

Our dedication makes the difference...

   

 

 

Toll Free: 87-REICHLEY (877-342-4539)

Email: info@reichleyins.com

 

The information in this article is meant as a guideline only. There is nothing in this publication that alters the coverage or interpretation of any specific policy. Because some statements are generalizations, and because different companies’ policies contain slight differences, please refer to your specific policy. Call our office before making any judgments or decisions concerning your particular situation and coverage that may or may not apply.

 

Total Loss & Salvage Vehicles

The recent storms in our area have caused hail and/or wind damage to a large number of motor vehicles. Many people have been informed by their insurance company adjusters that the damage to the vehicle exceeds that vehicle’s worth and therefore is deemed to be a “total loss.” In order for the full auto claim to be paid, a salvage title must be issued.

Below is information gathered from the Ohio Bureau of Motor Vehicles regarding salvage titles, fees and how to apply:

1. Apply for a salvage title in your name, changing the status of your vehicle from “regular” to “salvage.” To do this you will need your driver’s license or state issued identification and the original title. You may wish to call your local auto title agency to verify the documents you may need.
   Xenia, Ohio Auto Title: 601 Ledbetter Road #B, Xenia OH 45385, 937-562-5055
   Note: The vehilce cannot be operated on the road while evidenced on a salvage title.
2. Upon completion of the repairs, contact the closest Highway Patrol Inspection Station and make an appointment to have a salvage inspection done (there is an inspection fee). Take any receipts for repairs and new parts with you to the inspection station.
3. Once the vehicle has successfully completed inspection, take the Form HP106 (which will be given to you at the station) along with your salvage title to any Auto Title Agency and apply for a “rebuilt salvage” title. After all of these steps have been completed, the vehicle is now operable for use on any road.

The local fee for a salvage title is $4.00, plus an affadavit fee of $1.00 if the salvage application has not been completed and notarized.

Salvage inspection receipts can be purchased at any License Bureau for $53.50. You will need this receipt BEFORE you call to make an appointment at the Highway Patrol Inspection Station.

Due to the massive volume of auto-related storm claims, we understand that there is currently a 6 to 8 week wait for inspections. The State Patrol understands that most of the damage from the storm is strictly cosmetic; however, once a title is branded “salvage,” it must be inspected before it can legally be driven on roadways.

You can take the form HP106 and your salvage title to any title office to apply for a rebuilt salvage title. The fee for this title is $15.00, plus $1.00 if the application has not been completed and notarized. The branding, “rebuilt salvage” will follow the vehicle through all subsiquent transactions.

Should you have any questions regarding the inspection, please contact one of the following Ohio State Patrol Inspection Stations:

Miami County:  937-335-6412, 1275 Experiment Farm Rd., Troy OH 45373
Hamilton County:  513-777-5547 9971 Cin-Day Rd., Westchester OH 45069
Hancock County:  419-423-2957 8210 Suite #D, C.R. 140, Findlay OH 45840
Franklin County:  614-644-1667 1583 Alum Creek Dr., Columbus OH 43209

Click here for more information.

Reichley Insurance Agency is committed to excellence.  We pride ourselves on offering our clients reliable coverage and great service.  As an independent Ohio insurance agency, we can provide you with all types of insurance coverage from the top carriers in the country.  Our team of trusted agents will work with you to find a policy that meets your needs - and falls within your budget.

Our dedication makes the difference...

    





Child Booster Seats

 The Institute for Highway Safety has provided a method to take much of the guesswork out of selecting the proper booster seat for your child. Seat belts are designed with adults in mind - so a child booster seat is an absolute necessity, and extra care needs to be taken when securing young children.

Children usually resist wearing a seatbelt because it is uncomfortable. Boosters elevate children so that the safety belts installed in vehicles by manufacturers will fit the child better. The booster seat allows the lap belt to fit properly over the child’s thighs and not their abdomen. The shoulder belt should fit across the middle of the child’s shoulder. Not only will the belt be more comfortable, it will provide maximum protection in a crash.

The institute’s researchers used a specially designed test dummy configured as a 6-year-old child. The researchers determined the effectiveness of how a 3-point lap and shoulder belt fit the dummy under a range of configurations representing many different automobile models. Based on a range of scores, a booster seat rating was assigned to each seat.  Click here to read more.

Reichley Insurance Agency is committed to excellence. We pride ourselves on offering our clients reliable coverage and great service. As an independent Ohio insurance agency, we can provide you with all types of insurance coverage from the top carriers in the country. Our team of trusted agents will work with you to find a policy that meets your needs – and falls within your budget.

Our dedication makes the difference...

    

 

Toll Free: 87-REICHLEY (877-342-4539)

Email: info@reichleyins.com

The information in this article is meant as a guideline only. There is nothing in this publication that alters the coverage or interpretation of any specific policy. Because some statements are generalizations, and because different companies’ policies contain slight differences, please refer to your specific policy. Call our office before making any judgments or decisions concerning your particular situation and coverage that may or may not apply.

Damage from Faulty Roof: Knowing What Is and Isn't Covered

  Upon buying a home for which the inspection showed signs of roof deterioration, the new homeowner immediately had the roof replaced. Several months later, after a heavy rain, water damage was noticed on the ceiling and wall. Further inspection revealed additional damage to silk drapery and a side chair that also had a silk covering.
The homeowner contacted his agent who requested the company have an adjuster meet with the policyholder and inspect the damage. After inspection by the adjuster, a contractor and the homeowner, it was determined that the damage was the result of the roofer improperly installing the flashing around the brick chimney. There was no damage found from any other source.
Determining what is and isn’t covered requires some review. The house was insured on an HO-3 special perils coverage form, a commonly used policy. Under this policy, the structure itself is insured for all perils subject to policy exclusions, but the contents are covered for the named perils listed in the policy.
It is not the purpose of the homeowner policy to respond to damage that should rightly be the responsibility of the craftsman. In this case, the homeowner had to contact the roofer to seek restitution. When the homeowner and roofer entered into a contract to install the new roof, there was an implied, and perhaps written, warranty that the work would be done in a skillful and professional manner.
Subject to underwriting review you may be able to add a special perils contents endorsement to your policy, which in this case would have covered the damaged contents. Give us a call if you have any questions.
Knowing the cause of the loss, the agent searched for coverage and found the following:

1. Damage to the interior ceiling and wallpaper were covered since these items were part of the structure, which was insured for all perils subject to exclusions.
2. The contents damage was not covered because contents coverage is subject to the named perils listed in the policy, and none applied. For coverage to apply for rain damage to contents, there must first be damage to the structure’s exterior.
3. The roof flashing repair was not covered because faulty workmanship and repair are both excluded causes of loss.

Reichley Insurance Agency is committed to excellence. We pride ourselves on offering our clients reliable coverage and great service. As an independent Ohio insurance agency, we can provide you with all types of insurance coverage from the top carriers in the country. Our team of trusted agents will work with you to find a policy that meets your needs – and falls within your budget.

 

Our dedication makes the difference...

    

 

 

Toll Free: 87-REICHLEY (877-342-4539)

Email: info@reichleyins.com

 

The information in this article is meant as a guideline only. There is nothing in this publication that alters the coverage or interpretation of any specific policy. Because some statements are generalizations, and because different companies’ policies contain slight differences, please refer to your specific policy. Call our office before making any judgments or decisions concerning your particular situation and coverage that may or may not apply.