How Do I Choose a Good Homeowners Insurance Policy?
Buying a home is one of the biggest investments most people ever make. Protecting that investment with the right homeowner’s insurance policy is just as important—but with so many options, it’s easy to feel overwhelmed. Here’s a simple guide to help you choose a policy that fits your needs, your risks, and your budget.
1. Understand What Homeowners Insurance Covers
A standard homeowner’s policy typically includes:
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Dwelling coverage – Repairs or rebuilds your home after a covered loss (like fire or wind).
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Personal property – Covers belongings like furniture, electronics, and clothing.
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Liability protection – Covers you if someone is injured on your property or you accidentally damage someone else’s property.
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Loss of use – Pays for hotel or rental costs if your home becomes uninhabitable due to a covered loss.
But not everything is covered. Flooding, earthquakes, sewer backups, and maintenance issues are usually excluded. If you’re at risk for those, you may need extra coverage.
2. Choose the Right Coverage Amounts
Here’s where many homeowners get tripped up. You want enough:
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Dwelling coverage to rebuild your home at today’s construction costs—not just pay off your mortgage. Make sure your agent has calculated your home’s replacement cost accurately and thoroughly. Ask about guaranteed replacement cost coverage, which protects you against Ohio’s rising construction costs.
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Personal property coverage to replace everything inside.
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Liability coverage to protect your assets if you’re sued—consider a higher limit or even an umbrella policy if you have significant assets or invite guests regularly.
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Pay attention to endorsements — In Ohio, sump pump backups are some of the most common claims we see—so it’s worth asking about sewer and water backup coverage.
3. Check the Deductible
Your deductible is what you pay out of pocket before insurance kicks in. Higher deductibles usually mean lower premiums, but make sure you could comfortably afford it if you had a claim.
4. Look at the Insurer’s Reputation
All policies are not created equal. Research insurers for:
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Financial strength – Will they be able to pay your claim? Look up ratings from AM Best or Standard & Poor’s.
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Customer service – Online reviews and state department of insurance complaint ratios can be revealing.
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Claims process – Fast, fair claim handling is key when disaster strikes.
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Hidden exclusions — Sometimes, insurance policies are cheap because they skimp on coverage. Make sure you find an agent who cares about protecting your home more than they do winning the sale.
5. Ask About Discounts
You may qualify for discounts if you:
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Bundle home and auto insurance
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Have a monitored alarm system
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Replace your roof
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Go claims-free for a certain number of years
6. Work With an Independent Agent
An independent agent works for you, not one insurance company. We compare policies and pricing from multiple top-rated insurers to find the best fit for your specific home, location, and budget. We are also locally rooted–we understand the specific risks central Ohio homeowner’s face and can tailor your insurance coverage accordingly.
Final Thoughts
The best homeowner’s insurance policy is the one that gives you peace of mind—knowing that if something goes wrong, you’re protected. Take the time to review your coverage options, ask questions, and get professional advice. If you’re unsure where to start, our team is happy to walk you through a free, no-obligation review of your current policy.
Contact us today to make sure your home is properly protected: Call us at 740-382-3516 or email at katie@shamrockmarion.com
