What to Look for in an Ohio Homeowner’s Flood Insurance Policy

Home insurance is a top priority for homeowners in Willoughby, OH. When looking into home insurance, keep in mind you will need a separate policy to cover flood hazards. The Merhar Agency LLC can assist in exploring insurance options to protect your assets from flood damage. Here are some key considerations to help you while researching flood insurance.

Policy Requirements

When selecting homeowner’s flood insurance, one of the specific areas to look into is the policy requirements. If you’re like most homeowners and have a mortgage, then you may actually be required to obtain flood insurance before getting a home loan. The requirements can also vary depending on where you live and the risk of flooding in your area. For example, river waterfront homes carry a higher risk of flooding than homes in hilly regions, so the flood insurance requirements may vary.

Covered Assets

Covered assets are another important consideration when looking into Ohio flood insurance for homeowners. Standard flood insurance policies cover direct physical damage to the property up to a certain value. Contents coverage is separate from the standard flood policy, so it’s good to check with a local insurance agency to ensure comprehensive flood protection.

Policy Limitations

The limitations listed in the policy are something else to research before purchasing a policy. This may pertain to the maximum amount of damages covered and any exclusions you should know about. It’s also important to consider whether a certain policy will cover you for one flood or multiple flood events.

Explore Your Flood Insurance Options

If you’re in the Willoughby, OH, area and want peace of mind regarding proper flood insurance protection, The Merhar Agency LLC can help. Contact our office to discuss flood coverage tailored to your needs.