Condo Insurance Riders: What Are They and Do You Need Them

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Willoughby, OH residents, are you aware of the nuances of condo insurance and the additional protections available through insurance riders? At The Merhar Agency LLC, we’re committed to helping condo owners fully understand their insurance options. While standard condo insurance policies provide essential coverage, riders offer additional layers of protection tailored to your specific needs.

  1. Water Backup Coverage: Condo insurance typically covers water damage from burst pipes or plumbing issues within your unit. However, water backup coverage extends this protection to include damage caused by sewer or drain backups. With heavy rainfall and seasonal changes in Willoughby, OH, water backup coverage can be a valuable safeguard against unexpected flooding and water damage.

  2. Scheduled Personal Property Coverage: While standard condo insurance policies cover personal belongings, they often limit high-value items such as jewelry, artwork, and electronics. Scheduled personal property coverage allows you to specifically list and insure these valuable possessions for their full appraised value, ensuring that you’re adequately protected in the event of loss or damage.

  3. Loss Assessment Coverage: Unit owners may be responsible for shared expenses associated with property damage or liability claims against the condo association in condominium communities. Loss assessment coverage helps protect you from unexpected financial burdens by covering your share of special assessments levied by the association due to covered perils.

At The Merhar Agency LLC, we understand the unique insurance needs of condo owners in Willoughby, OH, and beyond. Ready to explore your condo insurance options and discover the benefits of insurance riders? Contact us today for personalized guidance and a comprehensive insurance solution designed to safeguard your condo and belongings. Protect your investment and enjoy greater peace of mind with reliable coverage you can trust.

Do You Need Life Insurance at Every Age?

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For younger individuals, life insurance often doesn’t rank high on their list of concerns. They may believe that they don’t necessarily need it. However, it can hold significant importance at any age as it assists in protecting the loved ones you leave behind. If you reside in the Willoughby, OH area and seek information on the value of a life policy, The Merhar Agency LLC can provide you with the required knowledge and support. Consequently, you can choose the most suitable policy for your needs and attain considerable peace of mind.

Selecting a life insurance policy might seem daunting if you don’t have proper guidance. This is where our dedicated agents play a vital role. They will provide you with all the necessary details to fully understand your options. Consequently, you can focus on spending quality time with your loved ones, knowing they will be financially secure for the future in the event of your demise.

Whether you prefer a whole life or term life policy, choices must be made. Further, it would be best if you also considered the overall value of the policy you choose. This is typically dependent on your family’s current lifestyle to ensure that they can maintain it even if you are no longer there. Of course, significant changes in your family life, such as marriage, divorce, or the birth of a child, may necessitate adjustments to your policy.

Contact us at The Merhar Agency LLC today if you are in the Willoughby, OH area and seeking a life insurance policy. We will help you understand all the necessary details so that you can select an excellent policy that meets your coverage needs. Ensuring the protection of your family is crucial for their security and for your peace of mind.

Moving to a New Space? Here’s Why You Need Renters Insurance

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Whether you’re moving out for the first time or just relocating, getting into a new space can be fun and exciting. You also want to make sure you’re protecting your belongings, and that means you need a renters insurance policy. If you’re in the Willoughby, OH area, reaching out to us at The Merhar Agency LLC is the right way to get the coverage you need so you can focus on getting into your new place and settling in.

Why You Need Renters Insurance

Peace of mind is important when you’re looking for a place that feels like home, and knowing you have good renters coverage will increase your peace of mind significantly. You won’t have to worry about your things and whether they’re covered for a claim if something should happen to them. But not all policies designed for renters are the same, and you want to be sure you’re choosing the one that’s going to meet your needs as well as possible.

Our agents are here to make getting the right policy easy and convenient. We’ll provide you with quotes from different insurers and talk with you about the differences, so you can make an informed selection on the policy that fits your situation. If you need to make adjustments or updates at any point, we can also help you do that, so you’ll always be properly covered and prepared for what’s next.

Explore Your Options

Get in touch with us today at The Merhar Agency LLC if you’re in the Willoughby, OH area and looking for a renters insurance policy. We know how important it is to have a space that feels like home, and you’ll sleep better at night knowing that space is protected properly. Working with us is the right way to protect your rental dreams.

Do I Still Need RV insurance If My Vehicle is Stored in a Building?

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Many people in Willoughby, OH only use their recreational vehicles during the warmer months of the year. So, the natural question involves whether they must continue using RV insurance during the months of their year when that vehicle is in storage. The answer to that question depends on where you store your RV. The Merhar Agency LLC can help you determine whether you need to continue your RV coverage when you are not on the road.

Does the Storage Facility Have Insurance?

Issues such as thefts, fires, and other mishaps can happen if you place your RV in storage. Many commercial policies will cover damage to your RV if a covered accident occurs. Check with the facility before you commit to anything to determine whether you need additional coverage. If you place your RV in a commercial storage facility, you may not need additional insurance if the facility covers mishaps such as fires, theft, and the like. However, if the facility doesn’t have storage insurance included, you should consider long-term RV storage insurance to ensure that your vehicle remains safe.

What If I Store My RV on My Property?

The answer is it depends. The first thing you need to do is review your homeowner’s insurance policy to see what coverage you have. Even if your current insurance doesn’t cover RV storage, you may be able to add coverage through an umbrella policy or another special provision.

No matter where you store your RV, have someone evaluate it before you put it in storage. This step will help ensure its condition.

The Merhar Agency LLC can help Willoughby, OH residents determine the best course for RV insurance. Contact our office today. Roget started on an economical policy that fits your needs.

What should I think about when building a boat insurance plan in Ohio?

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In the Willoughby, OH area, owning a boat can be a lot of fun. When you are going to purchase a boat here, you will enjoy all the local lakes and waterways throughout the region and state. Along with shopping for a boat, you also need to get the right insurance. There is a lot you need to think about when you are going to build a boat insurance plan when you are in this area. 

Your Requirements

One of the factors to consider as you are shopping for boat coverage in this region is what your requirements are. There are various situations when you may be required to carry insurance. To use certain marinas and waterways, you may be obligated to carry a boat insurance plan with liability coverage. There are also scenarios when you will be required to carry full coverage if you have taken out a loan when buying a boat. You should always make sure you receive the necessary coverage. 

Value of Boat for Coverage

It is also important to consider the value of the coverage of your boat. When you are going to get insurance, you can move forward with either an agreed-value policy or actual cash. Agreed value is a coverage level negotiated with the insurer, and the actual value is the market value, which factors in depreciation. 

Consult With Us

Getting boat insurance needs to be a top priority when you are purchasing any watercraft in the Willoughby, OH area. Once you are ready to start shopping for your next boat here, you can call our team with The Merhar Agency LLC to discuss your needs. Our team of professionals with The Merhar Agency LLC can help you by addressing your questions and offering the ongoing support necessary to build a new plan. 

I’m a small business owner with one employee. Do I need umbrella insurance?

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Many small business owners have a vested interest in protecting their assets and their profits. Business insurance provides a variety of different benefits for business owners. The team at The Merhar Agency LLC is dedicated to helping Willoughby, OH business owners get the coverage they need. 

What is Umbrella Insurance?

As a business owner, commercial/business insurance provides protection for accidents, lawsuits, business auto insurance, workers’ compensation, and more. However, there are times when an accident or a loss exceeds the maximum limits of a business insurance policy. This may not happen often, but it does happen from time to time. Umbrella insurance is designed to cover any loss or situation that the primary insurance policy doesn’t cover.

If your accident or loss exceeds the limits of your primary insurance policy, umbrella insurance will cover the overage. Sometimes, if an incident or accident isn’t covered under your business policy, umbrella insurance can act as primary insurance by covering this event/accident/situation. It should be noted that you must have business insurance to be eligible for umbrella insurance. 

I’m a small business owner with one employee. Do I need umbrella insurance?

As a small business owner, umbrella insurance is a good investment if you have assets that you’re concerned about protecting. If you have an accident, loss, or lawsuit, and the coverage limits of your primary business insurance are exceeded, umbrella insurance provides coverage. It’s impossible to predict the future. Umbrella insurance is essentially back-up insurance.

Umbrella insurance provides coverage when the limits of your primary insurance have been exhausted. Although you may not use umbrella insurance often or much at all, it’s good to have it. It’s not designed to be used as primary insurance. It’s actually insurance for your primary insurance.

Schedule A Consultation Today

If you have questions about umbrella insurance, call us at The Merhar Agency LLC in Willoughby, OH. We’d be happy to answer all of your questions.   

What should someone think about when getting flood insurance in Ohio?

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Anyone who is a property owner in the Willoughby, OH area will know how important it is to have the right insurance. When you do look for any type of insurance here, it is important to also consider your flood insurance needs. As you are looking for this coverage, there are various factors to think about when evaluating your options. 

Requirements

The first factor you should think about when you are shopping for flood insurance is what your requirements are. If you choose to purchase a home, you will likely take out a mortgage or live in a home association. In these situations, you likely will have a flood determination pulled to see if you are in a flood zone. If you are, you will likely have specific flood requirements. You should carefully assess these requirements to ensure you remain in good standing. 

Assets to be Covered

As you are looking for flood insurance, you should also consider the assets that you need to be covered. It is important that you have enough coverage so you can fully rebuild your property if it is damaged in a catastrophic flood. It would also be a good idea to ensure you have coverage to replace your core personal assets and even have support if you need an alternative living arrangement while repairs are being made. 

Consult With Us

Anyone living in the Willoughby, OH area will want to be assured that they have the right flood insurance in place at all times. When you are looking for flood insurance when you are in this area, you can call us at The Merhar Agency LLC. When you work with our team at The Merhar Agency LLC, you will get any support you need to build a new plan.

Why Comprehensive Motorcycle Insurance is Worth the Investment

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There is nothing better than hitting the roads around Willoughby, OH and feeling the wind in your hair. It is an exhilarating feeling that can’t be replicated in a car or other vehicle. However, with freedom comes a fair share of risks. Motorcycles are not the safest vehicles on the road, and accidents can result in serious injuries or even death. That’s why The Merhar Agency LLC recommends comprehensive motorcycle insurance.

Benefits of Comprehensive Motorcycle Insurance

Comprehensive motorcycle insurance covers damage or loss to your motorcycle resulting from accidents, theft, fire, vandalism, and natural disasters. This type of policy covers everything from collisions with other vehicles to hitting a pothole or deer on the road. Comprehensive coverage even extends to non-vehicle-related incidents, such as theft or damage caused by falling trees or hail.

Comprehensive motorcycle insurance is that it can potentially save you thousands of dollars in the event of an accident or theft. Without insurance, you would be liable for the cost of repairs or replacement of your motorcycle out of pocket.

Comprehensive motorcycle insurance also provides protection for other people on the road. In the unfortunate event of an accident, insurance coverage can help pay for injuries to others and damage to their vehicle or property and potentially save you from having to pay out of pocket for this damage.

Schedule A Consultation Today!

Comprehensive motorcycle insurance isn’t just a policy for riders; it’s a necessity. It provides protection in case of accidents, theft, or natural disasters. It gives riders peace of mind while enjoying their motorcycle and takes the financial burden off of their hands. With such great benefits and the peace of mind it provides, comprehensive motorcycle insurance is worth the investment. Contact The Merhar Agency LLC today to get coverage in Willoughby, OH.

Condo insurance terms you need to know

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Condo owners in the Willoughby, OH metroplex work hard to make sure their space feels like home. At The Merhar Agency LLC, it’s our pleasure to help insure our clients with the right policy. Understandably, there are terms you should become familiar with to understand how your property is protected. 

Condo Insurance Terms

Condo insurance is similar to home insurance because it covers your personal property, liability, and certain types of structural damage to your condo. It differs from home insurance in that it does not cover the structure of the building itself. These are typically covered by the condo association’s master policy. When you purchase a condo policy, you are purchasing coverage for damages not already provided by the association’s master policy.

  • Dwelling coverage- Covers the cost of replacing structures like flooring if it’s damaged or destroyed due to an expected event.
  • Temporary living expenses or loss of use- Helps pay for somewhere else to live should your condo become unlivable after an event such as a fire or natural disaster.
  • Liability coverage- This is another term in condo insurance policies that protects you from being sued for accidental bodily injury or property damage caused by you, your family members, or pets in or around the condo.
  • Personal property- If you have items inside your condo, like electronics or furniture, that were damaged, this part of the policy can help cover the replacement costs.

Find Out More About Condo Insurance

The Merhar Agency LLC in Willoughby, OH is always ready to help other clients with insuring what matters most to them. Do you need to get an estimate on condo insurance? Please feel free to get in touch with us to get a free quote or if you have any questions.

How College Graduates Can Benefit from Life Insurance

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Graduating from college is a major milestone in a person’s life. As a graduate, you’ll face many challenges and make major decisions that will impact your future. One of those decisions is whether or not to obtain life insurance. There are numerous reasons to consider life coverage at this stage of your life. If you live in or around Willoughby, OH, we invite you to visit The Merhar Agency LLC to discuss how life insurance can benefit you.

Benefits of Life Insurance for College Graduates

One reason to consider life insurance after college graduation is that it comes at a lower cost. You can save a substantial amount of money by purchasing your policy at a younger age. Here are a few more reasons to consider life insurance after college graduation:

Pay for Private Student Loans

If your parents or older siblings co-signed private student loans to help pay for your education, they could be held liable for those loans if you were to unexpectedly pass on. Life insurance can be used to cover this expense so your loved ones don’t have to bear this burden.

Financial Support for Children or Significant Other

It’s not uncommon for college students to be married or have a family, especially those that are completing a Master’s or Doctoral program. If you have a spouse or children, life insurance offers a means of providing for your loved ones in the event of your sudden demise.

Pay for Home Mortgage

If you own a home, life insurance can be used to pay off your mortgage after you’re gone to make it easier for your loved ones to carry on.  

Where to Obtain Life Insurance

To learn more about the benefits of life insurance after college graduation, contact The Merhar Agency LLC in Willoughby, OH. We are happy to help.