October/November 2020 News from Rolland and Associates
Happy Thanksgiving!
The upcoming holidays are always something to look forward to but this year they will undoubtedly look very different from celebrations in years past. Whatever your plans entail this year, please stay safe and healthy and enjoy the time with your loved ones - whether that is in person or virtually!

Our agents are still working both in the office and remotely to make sure you and your loved ones are covered. Please note that our office is closed to walk in traffic. If you need to deliver something to us in person, please schedule a time with us so we can safely greet you at the door.

Our office will be closed on November 26 and 27 in observation of the Thanksgiving Holiday. We will reopen at 9 am on Monday, November 30.

As always, if there is anything we can do to assist you with your insurance needs, please don't hesitate to reach out to us via phone at 614-789-1891 or email.
Homeowner's Insurance 101
Have you ever looked at your insurance policies and wondered what some of the terms meant? Or been confused as to what was covered under what section? As agents, we know the ins and outs of what all those insurance terms mean but realize that some of our clients might not so we’re going to do a series of basic primers on insurance over the next few months – call it Insurance 101.

Last month we covered auto insurance - now onto Homeowner's Insurance!

There are a few basic sections to a homeowner's policy that you'll find on every policy and then lots of options for add-ons, called Endorsements. The basic sections include:

This limit of liability covers the house and any attached structures like garages. This number is what the insurance company believes it would cost to rebuild your home in the case of a total loss. Remember that it will likely be less than the resale value of the home - this is just what it would cost to rebuild and doesn't take into account the market value or even the value of the land the home is on so keep that in mind when looking at this number.

Personal Property
Simply put, this is all your possessions. Insurance companies typically set this figure between 65% and 80% of your dwelling value but you can change that amount with your agent. When you consider that in a total loss you'd be replacing all your furniture, clothing, the kid's toys, electronics, kitchen items, tools, etc - it can add up quite quickly! As a side note, this is why we encourage you to have an updated home inventory - if you need to account for every single thing you own, you'll have already done it.

Liability Insurance
This covers you for lawsuits for bodily injury or property damage caused by you or a family member - that typically includes pets (with some exclusions) as well. It covers you at home as well as worldwide and helps to pay legal fees and any court awarded damages against you up to the policy limit.

Medical Payments
This is money that helps cover medical expenses for guests in your home who are injured, regardless of fault. It is important to know that unlike the medical payments on your auto policy, this does not apply to you or your household members.

Loss of Use
If you can't live in your house because of an insurable event, this helps you cover the costs associated with moving to another place temporarily and covers the added living expenses that come along with being displaced from your home.

Now that you are familiar with the basic components of a homeowner's policy let's move onto the extras...

These add-ons enhance the already existing coverages and add additional layers of protection for things that are not typically covered. They vary from state to state as to what is considered standard but our companies offer endorsements for things like identity theft, water backup coverage, earthquake, hurricane, service line coverages, mold and biological damage, business property, and equipment breakdown. Let's discuss a few really popular and/or important ones:

Scheduled Property - formerly called Inland Marine within Nationwide, this is added protection for special items. Whether it is a piece of jewelry, a collection of rare and valuable books or artwork, this coverage ensures full coverage of those items.

Earthquake and Hurricane - granted, we don't get a lot of earthquakes or hurricanes in Ohio but other states do and we have been known to experience an earthquake from time to time. These are important endorsements in states prone to either of these because if the insurance company determines that damage to your home is caused by either of them and you don't have the appropriate endorsement, your loss will not be covered.

Water Backup - this endorsement extends coverage if your sump pump overflows or if water backs up through your sewer or drains. This typically doesn't include septic tank issues and every company covers these problems differently - give us a call and we can go through the specifics for your policy. Also, this is NOT flood insurance! So if the area around your house floods, this isn't going to cover it. There are separate policies for that!

Service Line Coverage - our modern homes have many outside services connecting us - gas, electric, water, cable and internet. If those lines are cut or damaged, they are typically the homeowner's responsibility to repair at their own expense. This coverage helps to pay for those repairs as well as damaged landscaping, the cost of excavation to access the damage and even will cover the cost of temporary living expenses should you need to move out while the repairs are made.

There are lots of other endorsements and a lot more that goes into homeowner's insurance but these are the basics that we think all our clients should be familiar with! If you have any questions at all, want more explanations, we would be happy to walk you through your policy and make sure you know exactly what it says and what it all means for you!
5 Quick Questions with...Paige!
Paige Francis, Associate Agent, Rolland & Associates

Paige has quickly become an invaluable member of the team since joining us in September. She is a licensed agent and is one of our dedicated customer service associates - if you call our office, you will likely speak with her!

What was your first job?
"My first job was as a teacher's assistant at a childcare center. I was in middle school and I had actually attended that childcare center as a kid. I was an assistant in the toddler room and loved it."

How long have you been in the insurance industry?
"I am new to the industry and just passed my Property and Casualty licensing exam in early October! I joined Rolland and Associates in September."

What is your guilty pleasure when it comes to TV?
"I love reality shows! Catfish is probably my favorite but I love them all!"

What is your favorite zoo animal?
"I love the sloths and monkeys and really enjoy the new sea lion exhibit at the Columbus Zoo and Aquarium!"

What is your favorite holiday?
"I absolutely love Christmas! It is the one time a year that my entire family gets together. I also just love watching my kiddos open their presents. The excitement on their faces is my favorite thing!"
As you may know, we are now an independent agency which means that while we still proudly represent Nationwide, we also can offer our clients other options for great coverage. We're going to take the opportunity to introduce you to one of our new carriers in each newsletter - we're very proud of the carriers we represent and firmly believe that they are all well suited to take care of our clients. So without further ado, we would like to introduce you to Safeco!

While you may not recognize the name immediately, you very likely know their parent company, Liberty Mutual. Safeco was founded as The General Insurance Company back in 1923 and became part of the Liberty Mutual family in 2008. They’re backed by the financial strength of Liberty Mutual Insurance, ranked on the Fortune 100 list of the largest U.S. corporations. The company has financial strength ratings of A (Excellent) from the A.M. Best Company, A2 (Good) from Moody’s Investors Service, and A- (Strong) from Standard & Poor’s.

Their promise to their customers is "When you have a claim, we take care of it. It's that simple." They offer coverage for auto, home and renter's, boat, and umbrella as well as motorcycle and RV as well as others. They provide a nice slate of discounts that start on day one.

We've been very pleased with the options they have offered our clients and are proud to be partnered with them.

If you'd like to learn a little more about them, please feel free to visit their website: Safeco
Have questions about your insurance? Need help with your policies?
Please don't hesitate to reach out - we're happy to help!

Don't forget to ask about our referral program!

Rolland & Associates | Email | 614-789-1891 | Website