Local insurers and agents have been assisting policyholders with damaged homes, vehicles and businesses. Policyholders in Ohio are encouraged to begin filing their tornado insurance claims following the storms last week. The twisters hit on Monday night and damaged homes, cars and businesses. Insurance companies are expecting thousands of claims and agents are bracing to assist them all. Insurers such as Allstate, State Farm, and Farmers have been fielding ceaseless client calls. “When the devastation is this much, it’s like nothing any of us in our area has really seen,”…
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Anthem health insurance plans leaving Ohio exchange in 2018
The insurer announced that it will not participate in the state’s ACA marketplace next year. One of the largest insurers in the United States, Anthem health insurance, announced its intention to exit the Ohio ACA exchange next year. While the company is large, very few people will be affected by the departure. Only about 10,500 Ohioans have health plans with Anthem, residing in only one fifth of the state’s counties. While the Anthem health insurance exit from the exchange is a small one when all is said and done, it…
Read MoreHomeowners and auto insurance premiums on the rise in Ohio
Homeowners and auto coverage is growing more expensive in Ohio Auto insurance rates in Ohio are expected to rise in 2016, along with homeowners insurance premiums. The Ohio Insurance Institute has announced that auto premiums are set to rise by an average of 3.3%, whereas homeowners coverage will become 2.9% more expensive, on average. Even with the increases in premiums, Ohio is well below the national average in terms of the cost of auto and homeowners insurance coverage. In terms of homeowners coverage, Ohio is ranked the ninth lowest when…
Read MoreWeather improvements ease homeowners insurance rates
The cost of insuring an Ohio property may stop rising as quickly as it has been due to fewer storms. Over the last few years, Ohio property owners have been watching their homeowners insurance rates climbing upward at a sharp rate, but that may start to slow to a much more moderate increase as the weather has been easing off. The weather has been slightly kinder to Ohio residents and isn’t causing the damage that it had been. In 2014, the rates from the largest homeowners insurance companies in the…
Read MoreOhio law to bring changes to state’s insurance industry
Insurance changes coming to Ohio thanks to new law Ohio lawmakers have approved a new budget that will bring major changes to the state’s insurance law. The change reduces the amount of money that insurance companies will receive from injury cases in which consumers are found at fault and cannot pay the full amount they owe. The change to the law has received significant support from lawmakers, with supporters suggesting that some companies in the insurance industry could be exploiting the old law for financial gain. Insurance companies will receive…
Read MoreHomeowners insurance companies in Ohio look at ‘high-risk’ dog breeds
Owners of pit bulls, among others, say that they have experienced bias when they seek policies. Ohio has had a regulation in place for about three years that has stated that the owners of all breeds of dog must be treated equally, but this has created a certain degree of controversy when it comes to homeowners insurance policies. Some dog owners have said that the breed of their pets have placed a sizeable barrier in their way. Among those challenges, homeowners insurance has been at the top of the list.…
Read MoreOhio drivers can show proof of auto insurance on smartphones
As of this week, it is possible to display the proof of coverage card in digital format within the state. Drivers throughout the state of Ohio are now legally able to use electronic devices such as smartphones and tablets to display proof of auto insurance instead of having to produce the paper form of the card. This is now a legal way of showing proof of coverage when it is requested by police officers and state agencies. The law went into effect at the beginning of this week and it…
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