Homeowners Insurance

Protect your most valuable asset with the right policy. Serving Elyria and all of Ohio.

If your home were damaged or destroyed, you would want your claim settled by an insurance agency that understands this simple fact.

Savoy Insurance Group can help you find the home insurance that will best meet your needs and provide the most valuable combination of tailored coverage, quality service, and fair pricing.

Whether you own a house, apartment, or condominium — the right home insurance policy can provide you peace of mind as well as the money you need to repair or replace your home and/or belongings. Contact us for more information today!

What Is Home Insurance?

Insuring the place you call home can help protect you financially if you suffer a loss due to fire, theft, vandalism, or other covered events. It will also cover you in the event someone is injured while on your property and wins a legal judgment against you.

Homeowners policies differ by which losses are covered, which coverages you choose, and what type of residence you own. You choose which policy is best for you, whether it’s a comprehensive policy that cover losses such as fire, hail, smoke, falling objects, vandalism and theft of personal property, or whether it’s a policy that covers only specified losses.

How Much Does Home Insurance Cost?

Your home insurance policy is most often made up of the specific options you choose, so how much you’ll pay for your policy depends on:

• What you select. Oftentimes homeowners insurance options are priced individually, so how much you’ll pay for your policy depends on what coverages you buy.
• How much you want to cover. Higher deductibles usually lower your premium price by shifting part of the loss payment to you. For example, if you had a $500 deductible, you would be responsible for paying the first $500 of the covered loss.
• Where you set your limits. You may choose to set higher limits than the recommended amount if appropriate to your situation and needs.

Worried you aren’t completely covered? Consider an umbrella insurance policy that extends your coverage.

Common Coverage Options

Protection for Your Home
Property or Dwelling Coverage typically pays to repair or rebuild your home if it’s damaged or destroyed by an insured event like a kitchen fire or windstorm.

Protection for You and Other People
Personal Liability Coverage applies if someone is injured or their property is damaged and you are to blame. The coverage generally applies anywhere in the world.

When choosing your liability coverage limits, consider things like how much money you make and the assets you own. Your personal liability coverage should be high enough to protect your assets if you are sued.

Medical Coverage
This covers medical expenses for guests if they are injured on your property, and in certain cases covers people who are injured off of your property. It does not cover health care costs for you or other members of your household.

Additional Living Expenses
If you can’t live in your home because of a covered loss, your home insurance policy will pay additional living expenses-commonly for up to 24 months-while damage is assessed and your home is repaired or rebuilt.

Protection for Your Belongings
Your home is filled with furniture, clothes, electronics and other items that mean a lot to you. Personal Property Insurance helps replace these items if they are lost, stolen or destroyed as a result of a covered loss.

Scheduled Personal Property Coverage
If you have special possessions such as jewelry, art, antiques or collectibles you may want to talk to your agent about this additional coverage. It provides broader coverage for specific items.

If You Rent Out Your Home
Landlords may have the option to buy optional liability coverage for the risks posed by tenant-occupied dwellings. Visit our Landlord Protection Insurance page for more information.

Protect the Things that Matter to You

Make an inventory of your home and personal belongings. If possible, make a list as well as take photos or video — using two inventory methods can help expedite the claim resolution process. Keep this list somewhere other than your home. Keep in mind that your policy doesn’t cover damages caused by poor or deferred maintenance on your part.

Homeowners Insurance FAQ

What is Homeowners insurance?

Homeowners insurance protects your home and the possessions inside from theft and other kinds of damages.  In order to close on a home purchase, your mortgage lender will often require that you secure Homeowners insurance.  This type of property insurance can help to protect you from financial damages as a result of fire, theft, or liability claims on your property, as well as other covered damages.

How much Homeowners Insurance do I need?

Your Homeowners policy should provide sufficient coverage to completely rebuild your home, including all of the possessions kept within the home.  This includes structures like separate garages or sheds, as well.  The amount of coverage and your respective premium will depend on a wide array of factors, including, but not limited to, the location of your home, the type of home you own, and the number of possessions that you keep in your home.   An independent agent can walk you through your best coverage options for Homeowners insurance for your home.

How can I save money on my Homeowners Insurance premium?

There are a number of factors that can influence your Homeowners Insurance premium.  Additionally, there a number of methods that can reduce your Homeowners insurance premium.  First and foremost, bundling your homeowners and auto insurance with the same company can provide a hefty discount.  Further, insuring any additional property with the same company, such as any boats or RV’s, can also provide a substantive discount.  In addition, adding security systems to your home can help to provide a discount to your Homeowners Insurance premium, as well.  Consult with your local Elyria independent insurance agent to discuss other options for lowering your Homeowners insurance costs.

Estate Insurance and Estate Sales

If you are responsible for a loved one’s estate, you may need estate insurance to ensure that their home and possessions have the coverage that they need.  Savoy Insurance Group has connected with a number of competitive estate insurance companies to ensure that we have the right option for your loved one’s estate.

If you need help with conducting an estate sale,  Things-N-More Tag and Estate Sales will treat your home like their own.  TME Sales will take care of everything from marketing to clean-up, and will do so with the utmost respect for your loved one’s possessions and home.  Visit Things-N-More Sales online for a free quote.

Every home is unique – talk to us today to find out how to get the best price and value on homeowners insurance for you.