Author: AgentInsure

Condo Insurance Guidelines For A First Time Property Owner

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Condo insurance protects the possessions you store within your condo. Learn how this type of policy works. Then, contact one of our agents who represent Advantage Insurance Network in Cincinnati, OH for assistance with purchasing a policy.

Primary Coverage

The owner of the property that you live on is responsible for maintaining primary coverage. This type of insurance protects residents’ outdoor property and common areas. The primary insurance does not cover personal possessions that a condo owner is responsible for.

Personal Coverage

Personal condo insurance protects against theft and vandalism. It also provides protection against damage that occurs from a natural disaster. The amount of personal coverage you pursue should depend on the value of your belongings. The location of your condo may influence how much personal coverage you seek.

Loss Of Use

Your condo insurance policy may provide coverage that will pay for expenses associated with hotel stays. If your condo becomes uninhabitable, the loss of use will require you to make other living arrangements. Any costs that are incurred may be covered during this time.

Deductible Requirements

Before you purchase an insurance policy, you will need to learn about the deductible requirements for the policy. The deductible is the amount of money you must pay before an insurance claim is approved. This amount may vary based on the exact policy type being purchased.

Reach out to our office!

If you recently purchased a condo, contact one of our agents who serve Cincinnati, OH. Advantage Insurance Network offers many condo insurance products that will provide reliable coverage for your residential dwelling.

Four Things You Should Know About Dwelling Fire Insurance

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You should have a dwelling fire insurance policy if you have a home. These policies are designed to protect you in the event of a loss to your home, and understanding why you need one and what all they cover matters. If you’re in the Cincinnati, OH, area and have questions about this kind of insurance coverage, Advantage Insurance Network is here to help. Here are four of the most important things to know about protecting your home.

1. This Policy Covers More Than Just Fire

Even though it’s called a fire policy, it’s homeowner’s insurance and protects your home from several issues. Your agent can help you determine whether you have enough coverage or whether you need any riders added to the policy for exceptional circumstances.

2. You Want to Update Your Policy as Needed

Updating your policy is important. You should review it at least once per year and anytime you have a big life event that affects your home or family. That helps ensure that you always have the right coverage for your needs.

3. Having Insurance May be a Requirement

If you have a mortgage holder on your home, they’re likely to require you to have this kind of insurance policy to protect the investment they made in your asset. You may need to escrow your insurance for proof.

4. Working With an Agent Makes the Process Easier

When you contact us at Advantage Insurance Network, we can help you get the dwelling fire insurance policy you need. If you’re in the Cincinnati, OH, area and looking for this kind of insurance, contact us today. Our agents are here to help you find the right policy for your home.

How to Get Flood Insurance for a Business

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In Cincinnati, OH, businesses face various risks, including the potential for flood damage. Given the city’s location near the Ohio River and its tributaries, flood insurance can be a critical component of a comprehensive business protection plan. Here’s how to get flood insurance if your business is located near water.

Understanding Flood Insurance for Businesses

Flood insurance for businesses is designed to protect commercial property from damage caused by flooding. This includes protection for the building structure, essential equipment, inventory, and sometimes even loss of income due to business interruption. 

Assessing your business’s specific needs is vital in Cincinnati, OH, where flood risks can vary depending on location.

Steps to Acquire Flood Insurance

At Advantage Insurance Network, we can help you find the right coverage for your business. Finding flood insurance is generally done as follows:

  • Assess Your Risk: Start by evaluating your business’s location to determine the flood risk level. You’ll want to have an insurance agent help with this step, as it requires looking at FEMA’s flood coverage maps.
  • Choose the Right Policy: Business flood insurance is typically available through the National Flood Insurance Program (NFIP) or private insurers. We can help you examine both options and check whether an NFIP policy is available. It’s usually the much more affordable option when available.
  • Understand Coverage Limits and Exclusions: One of our agents will ensure you understand what your policy covers and any limitations or exclusions it might have.
  • Purchase: Actually purchase the policy. There’s often a brief waiting period before the policy’s coverage goes into effect.

If you don’t have flood insurance for a business property, contact us at Advantage Insurance Network. We’ll work with you to find the right flood policy.

What Does Full Coverage Motorcycle Insurance Mean?

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You’ve finally purchased the motorcycle of your dreams in Cincinnati, OH; now it’s time to insure it. Yet you’re faced with a wide range of policy costs. Is it worth getting full coverage motorcycle insurance? Advantage Insurance Network recommends getting coverage above the state minimum for most riders.

Ohio’s Minimum Coverage for Motorcycles

Ohio requires motorcyclists to have liability insurance for bodily injury of $25,000 per person and $50,000 per accident, plus property damage of $25,000 if an accident occurs. You are not required to take any other types of coverage for your policy. A liability-only motorcycle policy can be much less expensive than a full-coverage policy. However, it’s not a wise choice, especially if you have an expensive bike. If you are involved in a wreck, you’ll have to pay for the repairs out of pocket.

Components of a Full Coverage Policy

Full coverage policies for motorcycles are similar to those for autos. Collision coverage pairs for repairs or replacement of your bike resulting from an accident with a vehicle or object. Comprehensive covers theft and damage incurred from fire, floods, falling objects, and similar events. The latter is beneficial if you store your motorcycle during the winter. Some policies even have a complete replacement or an upgrade provision if your motorcycle is totaled in a covered incident. Riders can also opt to get insurance for their cycle’s accessories,  but coverage amounts vary by insurer. Other options include uninsured/underinsured motorist coverage and personal injury protection (PIP).

Let Our Agents Help You

Advantage Insurance Network, serving Cincinnati, OH, can help you select the right motorcycle insurance policy to meet your needs. We can recommend appropriate coverage amounts and add-ons to keep your bike safe. Contact us today for an appointment.

Two Ways Boating Insurance Protects You

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When you own a boat, one of the most important things you can do for your financial protection is to have boat insurance. This insurance can come with many different types of coverage in the policy. Boat insurance is similar to auto insurance and has the same basic coverage types. Some of the most important coverage you can have in these policies is liability coverage. No boater should be without at least this type of coverage. When you need boat insurance, you can call us at Advantage Insurance Network in Cincinnati, OH.

Bodily Injury Liability Coverage

Like on the motorways, the waterways are the scenes of many accidents. Boating accidents are common, and they can be financially devastating for the person who’s at fault. If you’re judged to be responsible for an accident while boating, you would have to pay the other party’s medical bills and other costs. This may include things like lost wages and legal fees. When you don’t have boat insurance, you would have to pay out of pocket for what could be multiple people’s high medical bills. This coverage can save you from severe financial problems after an accident. 

Property Damage Liability 

This type of coverage pays for damage to someone else’s property when you cause an accident. The accident may cause a lot of damage to another boat or watercraft, a dock, or other structures. You’ll need your boat insurance to pay for the damages when this happens. Never go without this coverage because repairing or replacing watercraft can be expensive. 

Get Boating Insurance

If you’re a boat owner and haven’t yet purchased a boat policy, call us at Advantage Insurance Network in Cincinnati, OH, to learn more.

Do You Need to Notify Your Home Insurance Company If You Complete Home Renovations?

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Undertaking home renovations is an exciting venture that can enhance your living space and property value. However, it’s essential to consider how these renovations may impact your home insurance. Here at Advantage Insurance Network, serving the greater Cincinnati, OH area, we want to help you better understand this topic.

Home Renovations and Insurance

Home insurance providers typically expect homeowners to inform them about significant renovations. This is because renovations can alter your home’s value and risk profile. For instance, adding an extension or finishing a basement can increase your home’s value, while upgrading wiring or plumbing can reduce the risk of fire or water damage.

The Importance of Notification

Failing to inform your insurance company about renovations can lead to issues down the line. If you experience a claim related to the renovation and haven’t updated your policy, you may not have adequate coverage. Your insurer may even deny the claim.

Consulting Your Insurance Agent

Navigating the intricacies of home insurance and renovations can be complex. It’s advisable to consult with your insurance agent or broker before embarking on significant renovation projects. They can provide guidance on the necessary updates to your policy, ensuring that your coverage aligns with your home’s updated condition.

In most cases, it’s prudent to notify your home insurance company when completing significant renovations. This proactive step ensures that your policy accurately reflects your home’s value and the associated risks. If you’re looking for a new homeowner’s insurance policy to ensure you’re fully covered after home renovations in the greater Cincinnati, OH area, Advantage Insurance Network can help you. Please schedule an appointment with one of our insurance agents today. 

Required Auto Insurance in Ohio

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When you own a vehicle in Ohio, you are legally mandated to have an auto insurance policy. Going even a day without this coverage is never a good idea. It’s essential to get your insurance while you buy your vehicle to register it legally, and you won’t be driving home without the coverage you need. Call us at Advantage Insurance Network in Cincinnati, OH to get your auto insurance. 

Liability Coverage in Ohio

When you’re an Ohio driver, you are required to have a couple of types of liability insurance. Three total coverage amounts have to be in your policy. You have to have at least a certain amount to pay for one person’s expenses after being injured in an accident you’ve caused. There is also a different minimum amount required to be in place for all injured people. These two liability amounts must be accompanied by an amount for the damage to someone else’s vehicle or other property after you’ve caused an accident. While these are required, you can also get other types of coverage that will leave you better protected against the costs of accidents. 

Added Coverage

If you want your vehicle’s damages to be paid for after you’ve caused an accident, you need to get collision coverage. This pays for your own repair or replacement bills after an accident. Your vehicle can also face risks when you aren’t driving it. To be covered against those risks, you need comprehensive coverage. With all of these types of auto coverage, you can drive knowing that you’re well-protected. 

Get Auto Insurance from Advantage Insurance Network

You have to have auto insurance in Ohio and have proof of it. Call us at Advantage Insurance Network in Cincinnati, OH to get your coverage.     

Commercial Auto Insurance: Navigating the Road to Coverage

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Commercial auto insurance is a must if your business relies on vehicles for daily operations. Let Advantage Insurance Network, serving the greater Cincinnati, OH area, help you to understand this product better.

What Is Commercial Auto Insurance?

Commercial auto insurance is a policy designed for vehicles used primarily for business purposes. It covers a range of vehicles, from company cars and delivery vans to trucks and trailers.

Types of Coverage:

  • Liability Coverage: This is the core of commercial auto insurance, covering bodily injury and property damage your business is legally responsible for in an accident.

  • Collision Coverage: It covers repairs or replacement of your vehicle if it’s damaged in a collision with another vehicle or object.

  • Comprehensive Coverage: This covers non-collision incidents, such as theft, vandalism, or natural disasters.

  • Uninsured/Underinsured Motorist Coverage: Protects you if an uninsured or underinsured driver is at fault in an accident involving your business vehicle.

  • Medical Payments Coverage: Pays for medical expenses for you and your passengers, regardless of fault.

  • Cargo Coverage: If you transport goods, cargo coverage protects against damage or theft of the goods you’re carrying.

Why Is It Necessary?

Commercial auto insurance is necessary because personal auto insurance typically excludes coverage for vehicles used primarily for business purposes. Without the right coverage, your business could face significant financial losses in the event of an accident or vehicle damage.

Navigating the road to commercial auto insurance coverage can be complex, but protecting your business assets and operations is vital. If you want to purchase a new commercial auto insurance policy in the greater Cincinnati, OH region, the team at Advantage Insurance Network would love to help. Call us today for an estimate. 

Accidental Condo Damage: Protecting Your Neighbors’ Belongings

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Did you know that your Ohio condo insurance will cover a neighbor’s condos if a fire spreads from your condo to theirs? If a kitchen fire happens, for example, and burns through to other units, then personal liability coverage would cover the damages from the fire. 

Including Your Belongings

Remember that only the inside of the structure, such as the walls, floor, and ceiling, is covered by personal liability condo insurance. Both you and your neighbors are covered by personal liability insurance for the cost of personal belongings in the event of a fire and the resulting water damage. Advantage Insurance Network wants you to know more about accidental condo damage.

What The State Of Ohio Has To Say About Condo Insurance

This is a little confusing because some insurance companies say they’ll pay for neighbors’ condos and belongings in the event of a fire in your condo. The State of Ohio says on its website, "You are only responsible for the space within your walls because you cannot insure something you do not own (there must be insurable interest.)."

The only sensible thing to do is to check with your insurance company before buying condo insurance. Every insurance agency must comply with state and local laws as a matter of course.

Increase Your Personal Liability Limits

Most condo owners only take out enough condo insurance to get by or to satisfy their lenders if they’re paying for their home. When disaster strikes, they suddenly find themselves unable to cover repairs or replacements or even their neighbors’ repairs or replacements. Increasing your personal liability limits will help you afford the consequences of disaster. 

Insurance differs between houses and condos. Ask Advantage Insurance Network in Cincinnati, OH about condo coverage before you and your neighbors suffer an accident or disaster.

How Storage Conditions Can Affect Your Classic Car Insurance

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If you’re a Wheat Ridge, CO resident who owns a classic car (or wants to someday), it goes without saying that you want to keep your investment safe. Carrying the right insurance coverage is part of that, as classic and vintage vehicles require more than standard auto insurance.

Several key factors can affect your classic car insurance coverage once you have it, with storage standing out as one of the biggest, and CO Insurance Specialist can help you figure them out. In the meantime, here’s a look at what you should know.

Protection from the Elements

Naturally, a classic car left parked in a driveway or on the street faces significantly more risk than one securely locked away in a garage or other facility. For example, it’s constantly exposed to UV radiation, the elements, and the effects of inclement weather.

It’s also a lot more likely to wind up stolen or vandalized. Many Colorado insurance providers will require the policyholder to store their classic car in a safe, enclosed space for that reason.

Security Systems

Security measures (or the lack of them) can also affect your coverage and any claims you might need to file in the future. So, the more security you have in place where you store your car, the better. This includes lighting, alarms, cameras, and other security features. But tracking devices and immobilizers are also great options to add to the mix.

Time Spent in Storage

How often (and under what circumstances) your car comes out of storage in the first place also affects your coverage. Limited-use classic car coverage may be an option if you rarely drive your vehicle, use it only for seasonal Wheat Ridge, CO car shows, and so forth.

Whatever your reasons for wanting to own and care for a beautiful classic car, protecting your investment to the fullest is a must, and a CO Insurance Specialist can help you make the best possible decision. Call us today to get started!