A standard homeowners insurance policy helps financially protect you from unexpected incidents. Homeowners insurance policies typically include dwelling coverage, personal belongings coverage, personal liability coverage, additional living expenses coverage and other structures coverage. 

How Home Insurance Works 

When you have homeowners insurance, you must pay a premium in exchange for the coverage listed in your policy. You can file a claim with your insurance provider if a covered incident occurs, such as a burst pipe or a fire. They will determine if the cost of the loss will be covered, minus any applicable deductible and up to the policy’s limit. 

How Home Insurance Claims Work 

Insurance carriers can handle claims in various ways, but the following are the basic steps one may take for a property loss claim: 

1. Report your claim.  

2. Work with the adjuster to review the damage.  

3. Document your losses in detail.  

4. Keep any receipts from immediate repairs or relocation expenses.  

5. Receive a payment based on an estimate of the damage and per your policy’s terms. 

Keep in mind that the procedure for claims may differ due to the many variables involved. For example, third-party liability claims may follow a different series of steps. Reach out to your agent for more information. 

How Much Home Insurance Do I Need for a Mortgage? 

The amount of home insurance a mortgage lender requires varies based on a few factors, including the amount of your down payment, the amount of the loan and if the location or features of your home calls for additional coverage. Some lenders may only require you to have enough insurance to cover your loan amount; however, it is encouraged to insure your home for its full replacement cost.  


Home Insurance Quote in Gahanna, OH 

If you want to learn more about your home insurance options, contact Slyman Insurance Group. We can work with you to ensure you understand your policy and have the right coverage for your specific situation.