Severe Weather Awareness: Ohioans Urged to Review Insurance for Adequate Financial Protection

COLUMBUS -- Severe Weather Awareness Week is March 15-21, and Ohio Department of Insurance Director Judith L. French encourages Ohioans to review their insurance coverage to ensure adequate financial protection.

Considering flood insurance should be a top priority, as it's not typically included in standard homeowners or renters policies and must be purchased separately. A small amount of floodwater can cause costly damage, and nearly half of flood insurance claims come from outside high-risk zones.

Beyond the risk of flooding, recent statewide destructive weather, including tornadoes and severe storms, shows why overall coverage amounts reflecting the full value of a home and belongings are essential to avoid being underinsured.

"Ohioans without adequate insurance protection risk facing costly out-of-pocket repairs," French said. "Adequate coverage helps ensure Ohioans can rebuild their homes, replace belongings, cover temporary living expenses, and protect assets to minimize financial strain. It's crucial to complete an insurance review with an agent, and to contact the Ohio Department of Insurance with any insurance questions or complaints."

French provided these severe weather and insurance coverage insights:

• Consider flood insurance: The federal government's National Flood Insurance Program provides most flood insurance policies. Sold by agents, a 30-day waiting period applies before coverage begins. Visit floodsmart.gov for information. Also, determine if coverage for sewer or drain backup is appropriate to add to a homeowner's policy.

• Review coverage amounts: Most standard homeowners, renters, and business insurance policies generally cover rain, hail, lightning, wind, and tornado damage. However, review if coverage amounts reflect the value of the property and possessions. Review any policy exclusions.

• Understand rebuilding coverage: Replacement cost coverage rebuilds a home up to its policy limit, while guaranteed replacement cost covers the full rebuild even if it exceeds that limit. Consider add-ons like extended replacement cost, inflation protection, building code upgrades, and additional living expenses coverage.

• Evaluate personal possessions coverage: Actual cash value pays the item's worth at the time of loss, while replacement cost pays to replace it with a comparable item today. Renters should consider insurance to protect their belongings.

• Assess roof repair/replacement deductible: Most policies have a wind/hail deductible. It's either a flat dollar amount or a percentage of the home's insured amount, not the damage amount. Be clear on how much must be paid.

• Extra Expenses: Check coverage for fire department charges, temporary repairs, debris removal, tree/shrub damage, storage, and certain living expenses.

• Conduct a home inventory: Document possessions with photos, videos, and receipts/values to simplify claims and confirm adequate coverage.

A Severe Weather Preparation and Recovery Toolkit with insurance information is available at insurance.ohio.gov. For assistance, contact Ohio Department of Insurance representatives at 800-686-1526 and [email protected]. For emergency preparedness tips and planning resources, visit weathersafety.ohio.gov.

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