The Impact of Home Renovations on Your Home Insurance in Columbus, OH

Posted on December 31, 2024January 6, 2025 by admin

Home renovations can significantly improve the value and comfort of your home. However, they can also have a substantial impact on your home insurance. At Ferrell Agency, located in Columbus, OH, we believe it’s essential to understand these implications before starting any renovation project.

Boosting Property Value Through Home Renovations

Renovations often increase the value of your home. Whether it’s a kitchen upgrade, a new bathroom, or an added room, these improvements can significantly boost your property’s market value. Consequently, your existing home insurance coverage may no longer be sufficient to replace or repair the renovated property in case of a loss.

Keeping Your Insurance Company Informed About Renovations

It’s crucial to inform your insurance company about your renovation plans before you start. This way, they can adjust your policy to ensure it provides adequate coverage during and after the renovation. Some renovations, like a new roof or security system, might even qualify you for discounts on your premium.

Renovations That Could Impact Your Premium

While some renovations can lead to discounts, others might increase your insurance premium. For instance, adding a swimming pool or a trampoline might increase your liability risk, leading to a higher premium. Similarly, high-end renovations that significantly increase your home’s value might also result in a higher premium.

Striking a Balance: Home Improvements and Insurance Costs

Home renovations can be an exciting way to improve your living space and increase your property’s value. However, it’s essential to consider the impact on your home insurance. By working closely with your insurance agent at Ferrell Agency in Columbus, OH, you can strike a balance between making your dream home a reality and maintaining affordable insurance coverage.

For more information about home insurance and renovations, contact us at Ferrell Agency today.

Auto Insurance: How It Helps in Case of Vehicle Theft in Columbus, OH

Posted on November 27, 2024 by admin

Vehicle theft is a concern for many drivers in Columbus, OH. While we all hope it never happens to us, it’s essential to be prepared for such an eventuality. One way to protect yourself is through your auto insurance policy. But how exactly does auto insurance help in case of vehicle theft? Let’s delve into this topic.

It Helps to Have Comprehensive Coverage

At the Ferrell Agency, we often get asked about the different types of auto insurance coverage. One that is particularly relevant to vehicle theft is comprehensive coverage. Unlike collision coverage, which protects you in case of damage from an accident, comprehensive coverage protects against damage from other incidents, including theft.

What Does Comprehensive Coverage Include?

Comprehensive coverage can help replace your stolen vehicle. It also covers damage from incidents like fire, vandalism, natural disasters, and collisions with animals. It’s important to note that comprehensive coverage is usually optional unless it’s required by your loan or lease holder.

How Does a Claim Work?

If your vehicle is stolen, you’ll need to file a claim with your insurance company. The Ferrell Agency in Columbus, OH, is committed to making this process as smooth as possible. We’ll guide you through the necessary steps, from filing the police report to completing the claim forms.

Preventing Vehicle Theft

While having comprehensive coverage provides peace of mind, preventing vehicle theft is always better. Simple steps like locking your vehicle, parking in well-lit areas, and never leaving valuables in plain sight can make a big difference.

Auto insurance plays a crucial role in protecting you from the financial impact of vehicle theft. If you’re in Columbus, OH, and have questions about your auto insurance coverage, don’t hesitate to reach out to the Ferrell Agency. We’re here to help you understand your policy and ensure you have the protection you need.

Commercial Insurance: A Lifeline for Columbus Retail Stores

Posted on October 29, 2024 by admin

Operating a retail store in Columbus, OH comes with its unique set of challenges and risks. In this blog post, Ferrell Agency will explain how commercial insurance serves as a lifeline for Columbus retail stores.

Property Insurance for Retail Stores

Property insurance is crucial for retail stores. It covers the physical structure of your store and its contents, including inventory, equipment, and fixtures, against damage or loss due to events like fire, theft, or natural disasters.

Liability Insurance for Retail Stores

Liability insurance protects your retail store if someone is injured on your premises or if your business operations cause damage to someone else’s property. It covers legal fees and any settlements or judgments if your store is sued.

Business Interruption Insurance for Retail Stores

Business interruption insurance compensates for lost income if your store has to close temporarily due to a covered event, like a fire or a natural disaster. It can also cover operating expenses like rent and payroll during the closure.

Workers’ Compensation Insurance for Retail Stores

Workers’ compensation insurance covers medical expenses and lost wages if an employee is injured on the job. It’s a legal requirement in most states, including Ohio.

Commercial insurance is a lifeline for Ohio retail stores in Columbus, OH, providing crucial protection against a range of risks. For more information, contact Ferrell Agency today.

How to Secure Yourself Against Natural Disasters: Home Insurance Explained

Posted on September 28, 2024September 13, 2024 by admin

When it comes to natural disasters, it’s always better to be prepared than caught off guard. At the Ferrell Agency in Columbus, OH, we ensure that our clients have top-notch home insurance coverage that can help them recover when disaster strikes.

Understanding Home Insurance

Home insurance refers to the policy that you purchase to protect your home and its contents from unexpected events, such as natural disasters. If your property or contents are damaged as a result of these events, the insurance company will help cover the repair or replacement costs.

Protecting Yourself Against Natural Disasters

In Columbus, OH, we experience a range of natural disasters like storms, floods, and tornadoes. A robust home insurance policy from Ferrell Agency can provide you with financial safeguards in the face of these uncertainties.

Risk Assessment

Your insurance policy should be reflective of the risks your home is exposed to. Understanding these can help you in choosing a policy that covers these specific risks.

Comprehensive Coverage

Every homeowner should opt for comprehensive coverage that includes damage from natural disasters. Not all standard policies include this, so it’s crucial to discuss your options with your insurance agency.

Partner with Ferrell Agency

Securing yourself against natural disasters begins with understanding home insurance. At the Ferrell Agency, we take pride in empowering our clients with the knowledge and coverage to protect what matters most. Contact us today for personalized home insurance options in Columbus, OH.

The Role of Auto Insurance in Safeguarding Your Financial Health

Posted on August 30, 2024 by admin

When purchasing a vehicle, many individuals may not consider auto insurance as a priority. Unfortunately, this can lead to dire financial consequences in the event of an accident. So, how does auto insurance work in safeguarding your financial health? The Ferrell Agency in Columbus, OH is here to give some insights.

Protection from financial loss

Auto insurance serves as a financial shield, absorbing the cost that arises from accidents. Without it, you may have to dig deep into your pocket to cover damages caused to other people’s property, medical bills or even lawsuits.

Preserving your assets

If an accident were to occur, and it’s proven to be your fault, you could potentially lose a significant portion of your assets. Depending on the severity of the accident, this might involve your savings, home, or other valuable assets.

Meeting legal requirements

In Columbus, OH, and most other states, it’s mandatory to have a certain amount of auto insurance coverage. This not only assures financial safety but helps you avoid legal penalties, including fines and license suspension.

Ensuring peace of mind

The knowledge that your financial well-being is safeguarded in the event of an accident provides peace of mind. This level of financial security makes auto insurance a worthwhile investment.

The Ferrell Agency, located in the heart of Columbus, OH, offers extensive coverage options to suit different needs. For auto insurance and beyond, contact us for tried and tested solutions. With us, your financial health remains our priority.

How Commercial Insurance Covers Common Business Challenges

Posted on July 19, 2024July 5, 2024 by admin

Running a business in Columbus, OH, is a rewarding journey packed with many challenges. To cushion your business from potential risks, obtaining commercial insurance is paramount. This article explores how commercial insurance covers common business challenges.

Property Damage

Commercial insurance comes in handy when your business property incurs damage due to fire, theft, or natural disasters. The policy compensates for the loss, allowing you to remain operational after these unfortunate events.

Liability Claims

Being sued could have a tremendous impact on your business. Commercial insurance covers litigation and compensation costs in the event your business operations injure third parties or damage their property.

Workers’ Compensation

If an employee gets injured while working, commercial insurance policies protect you from potential medical costs and lawsuits. It covers medical costs and a portion of the lost wages for injured employees.

Business Interruption

When disaster strikes and your business operations cease unexpectedly, commercial insurance provides for loss of income, allowing your business to weather these unplanned stoppages.

Vehicle Damage

For businesses that rely on company vehicles, commercial auto insurance covers the costs associated with damage or collision to your company vehicles.

Understanding how commercial insurance helps to tackle common business challenges is crucial for businesses in Columbus, OH. It gives business owners peace of mind while ensuring the business can continue operating, despite facing common business challenges.

Understanding Your Home Insurance Policy: Coverages, Exclusions, and Riders, Courtesy of Ferrell Agency in Columbus, OH

Posted on June 28, 2024June 19, 2024 by admin

Buying a home is a significant investment for most people. It’s essential to understand how to protect this investment adequately. This is where home insurance comes into play. But not everyone fully comprehends their policy, making it difficult to apply it effectively when the need arises. Here, we at Ferrell Agency strive to make these concepts clear for our Columbus, OH clients.

Coverage

Home insurance policies typically cover your home and personal property against risks like fire, theft, and certain kinds of water damage. Also, you get liability protection in case someone gets injured on your property.

Exclusions

However, there are common exclusions. For instance, standard home insurance does not cover flood damage. This is why it’s crucial to carefully review your policy and understanding what’s covered, and what isn’t.

Riders

Certain valuable items like jewelry, art, and collectibles may need additional coverage. This is possible through riders or add-ons on the policy.

At the Ferrell Agency, located in Columbus, OH, we believe that knowing your home insurance policy – coverages, exclusions, and riders – comes with peace of mind. It ensures your property and personal items are adequately secured and helps prevent any unpleasant surprises in unfortunate scenarios.

Our dedicated team is ever ready to help you understand the intricacies of your home insurance policy. Enlightenment is only a call away!

Auto Insurance Claims: How to Manoeuver the Process

Posted on May 20, 2024 by admin

In this blog, we at the Ferrell Agency in Columbus, OH, aim to walk you through the process of auto insurance claims to ensure a smooth experience, should you ever need it.

Report The Incident

First and foremost, report any incident to your insurance company as soon as you possibly can. Delay in reporting may lead to potential disputes when claiming your coverage.

Claim Assessment

Once the incident has been reported, the Ferrell Agency will begin an evaluation of your claim. This process includes understanding how the incident occurred, assessing the damage to the vehicle, and who should be held responsible. This stage might necessitate evidence, like a police report or any photographs from the scene of the accident.

Repair Process

Following approval, we begin the process of repairing the damages incurred. Depending on the severity of the damages, this process can vary in time. At Ferrell Agency in Columbus, OH, we always aim to have you back on the road as soon as possible.

Claim Completion

Lastly, after all necessary repairs are done, the claim process is finalized. Remember, the key to a swift claim process is clear and timely communication with your insurance company.

We hope this information proves beneficial and helps you better understand auto insurance claims. Your peace of mind and satisfaction are our main goals at the Ferrell Agency.

Commercial Insurance Is a Good Investment for Every Business

Posted on April 15, 2024April 4, 2024 by admin

There are many perks to owning a business, but there are also more than a few concerns. The good news is that there are commercial insurance solutions like the Ferrell Agency for companies operating in and around Columbus, OH. With everything that business owners are responsible for and the demands of operating a successful company, business owners don’t have time to worry about protecting their business.

Fortunately, with insurance solutions from experienced and professional agents like the Ferrell Agency, business owners can spend less time worrying about protecting their companies and more time focusing on helping them grow and succeed.

Commercial Insurance: A Good Investment

Does your business own property, warehouses, or other physical assets? Is it in a service-oriented industry, or does it produce, manufacture, or distribute goods or materials? There are many types of businesses, and each has its own set of concerns and requires different types of protection.

From mitigating the expenses of loss, damage, or theft of assets or property to safeguarding against potential lawsuits and liability claims, the right commercial insurance solutions are a good investment for every type of business. That is also where the support of knowledgeable and helpful agents can help with all your commercial insurance needs.

Commercial Insurance Solutions for All Your Business Needs

If you are a business owner in the Columbus, OH, area and have questions or would like to learn more about commercial insurance solutions, our team at the Ferrell Agency can help. Contact us today to learn more and get the insurance solutions your business needs and deserves with the Ferrell Agency. Commercial insurance is just a good investment for every business.

Home Insurance: The Peace of Mind Every Homeowner Deserves

Posted on March 15, 2024March 8, 2024 by admin

Mitigating Weather Risks with Home Insurance in Columbus, OH

As a Midwest homeowner, weather-related risks are a core part of your existence. From destructive hail storms to the perennial fear of your roof uprooting during tornado season, these concerns are all too familiar. Yet, living in Columbus, OH, or its surrounding areas, you can dampen these fears thanks to the exceptional team at the Ferrell Agency.

For many, the prospect of a roof replacement, siding repair, or flood damage restoration is financially daunting. Not many homeowners have a spare $15,000 tucked away for such emergencies. However, even if you possess significant financial resources, it’s safe to assume that you do not enjoy unnecessary expenditure.

How Home Insurance Can Help

Finding the right home insurance solution can bring a sigh of relief when that next Midwest weather-maker looms on the horizon. Owning a home, be it a humble two-bedroom house or a grand 14-room gated property, automatically comes with the fear of potential damage. Home insurance helps assuage this fear.

Addressing Your Home Insurance Needs with the Ferrell Agency

If you live in or around Columbus, OH, and seek home insurance or merely have queries about the same, our amicable, proficient team at the Ferrell Agency can assist. Be it clarifying your doubts about home insurance or offering the insurance solution you deserve, the Ferrell Agency is at your service. Contact us to learn more, as our agents eagerly anticipate helping you find the right coverage.

Ferrell Insurance Agency

Get a Quote