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Homeowners Insurance

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Equity Cares Services

Homeowners Insurance covers losses and damages to your residence as well as your liability in case an accident occurs in your home. When your purchase is financed, homeowners insurance is required. Even if it wasn’t, it’s a good idea since the cost of insurance is small compared to the cost of replacing a home after a disaster.

Because everyone's needs are not the same, it is best to consult your agent to help assess your needs and find the insurance policy that is right for you.

What is Homeowners insurance?
Homeowners insurance provides financial protection against disasters. Insure your home and the things inside with a standard policy.

 

Homeowners insurance is a package policy that provides financial protection for your home and belongings, from disasters or unexpected damage. This means that it covers both damage to property and liability or legal responsibility for any injuries and property damage policy holders, or their families, cause to other people. This includes damage caused by household pets. Three major benefits of Homeowners insurance are that it provides comprehensive coverage, protects you from lawsuits, and protects your equity. It’s main purpose though is to protect your financial investments when the unexpected happens to your home or possessions.


Damage caused by most disasters is covered but there are exceptions. The most significant are damage caused by floods, earthquakes and poor maintenance. You must buy two separate policies for flood and earthquake coverage. Maintenance-related problems are the homeowners' responsibility.

Why do you need homeowners insurance?
It is really all about protecting yourself financially if something unexpected happens to your home or possessions. That's important because chances are your home is likely one of your largest investments.

  • If your home was destroyed by fire or damaged by a natural disaster, you'd need money to repair or replace it.

  • If a guest in your home is injured, liability protection and medical coverage help pay expenses.

  • If you are a victim of theft and vandalism, it can reimburse you for your loss or pay for repairs.

  • If you are still paying for your home, your lender will require insurance.

It is important to know that homeowners insurance is meant to cover unexpected damage, not routine maintenance. Ask your agent to talk about what is covered and be sure to read your policy so you know exactly what's included and what is not.

Things to consider and questions to ask your agent
Here are few things to discuss with your agent that will influence your decisions.

  • How much will it cost to rebuild my house and replace my belongings if they are damaged or destroyed? (Ask your agent to talk you through your home's features and the things you own so you can make an informed decision about coverage.)

  • Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?

  • What discounts are available? (Ask about multiple policy, security system and fire resistance discounts.)

  • What's the process for filing and settling a claim? (Ask who to call and what happens after you file a claim.) 

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Homeowners Insurance

© 2022 by Equity Cares

25 S Park Place, Newark, OH 43055

Tel: 740-242-0670

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This is to give you notice that Equity Cares Insurance, LLC is an affiliate company, through common ownership, of Equity Resources, Inc. who also does business as Equity Resources of Ohio, Inc. ERI Mortgage Inc, Equity Resources Inc of Ohio, and Equity Resources of Ohio. Because of this relationship doing business with Equity Cares Insurance, LLC may provide a financial, or other, benefit to Equity Resources, Inc.

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