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Replacement Cost vs. Market Value

By Amelia | January 27, 2023

The Difference Between Replacement Cost and Market Value on Your Home Insurance When you purchase a homeowner’s insurance policy and look at the coverage amounts, you may wonder why they are higher or lower than the price you paid for the home or the value of the home according to the current market. There is a simple reason for this: the amount of your homeowner’s insurance is typically determined by how much it would cost to replace your home, not how much it would sell for on the market. A home’s replacement cost is the amount of money it would…

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How Much Car Insurance Do I Need?

By Amelia | January 27, 2023

If you’re reading this, you’re most likely looking for Ohio auto insurance quotes, but you’re not quite sure where to start and how to make sure you have the right coverage. Well, we’ve got you covered. Welcome to the buckeye state. Land of many cornfields, birthplace of aviation, and one of the top-ranking states for good drivers. If you’ve been searching the internet about Ohio car insurance before finding our page, you probably noticed that auto insurance is mandated in Ohio and think that the required state minimum limits are enough- but alas, they aren’t. In our 11 years in…

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Five Things That May Be Missing From Your Home Insurance Policy

By Amelia | January 23, 2023

Owning a home is one of the greatest responsibilities (and sometimes headaches) people will have in their lifetime– which is why protecting it through home insurance is so important. And if you’re like most people, you would think that after meeting with an agent, you have the coverage you need. Unfortunately, that isn’t always the case. There are a few important coverages that are often missing from people’s insurance policy because they aren’t automatically included on your standard home insurance policy. So, we compiled a list of five important coverages you may be missing. Water Back-Up coverage This is one…

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What Happens if I Need to File an Insurance Claim?

By Amelia | January 23, 2023

Tips on How to File an Insurance Claim If you’re reading this, you’re probably interested in filing a claim. Well, you can stop your google searches and sit back because we have you covered. Half of the stress when going to file a claim is the unknown of what to expect during the claims and repair process. But don’t worry, we can help. At Platt Insurance, we’ve helped hundreds of people like you navigate the claims process seamlessly, and if you have a claim yourself, we want to help you as well. So, here’s what you need to know…. First thing’s…

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Term vs. Whole Life Insurance: Which one is best for you?

By Amelia | January 23, 2023

The Difference Between Whole and Term Life Insurance We know that thinking about life insurance is not everyone’s cup of tea. However, if someone is financially dependent on you, life insurance is a topic you just cannot avoid. Life insurance is insurance that provides cash to your loved ones when you die.  This sum of money is referred to as the death benefit and is intended to replace your income and the numerous ways in you support your home and your family. Your beneficiaries can use this money to pay for a variety of needs like paying funeral expenses, the…

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Does Credit Score Affect Car Insurance Rates?

By Amelia | January 23, 2023

The Most Surprising Way to Save Money on Your Car Insurance There are many factors that go into determining the rate of your car insurance including your age, gender, driving record, and the type of care you drive; but the most surprising factor is your credit score. Yes, you read that right- your credit score! Now, technically speaking, the score that insurance companies use is a little different from a traditional credit score, nonetheless, it still factors in many of the same characteristics such as a person’s payment history, current debt, length of credit history, and types of credit. You…

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Does Home Insurance Cover Water Damage?

By Amelia | January 23, 2023

What kind of water damage is covered by home insurance? Water is one of the most common (and frustrating) causes of damage to a home. At Platt Insurance, we have experienced this with our clients and our own personal homes, but everyone wants to know- does home insurance cover water damage? And the answer is… that it depends. We know that might not be what you are looking for, but depending on how you answer the following questions, your policy may or may not cover your water damage. Let’s tackle question number one: Where did the water come from? If…

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What is an Independent Insurance Agency?

By Amelia | January 23, 2023

Platt Insurance is an independent insurance agency, so we often get the question, “What does it mean to be independent?” For starters, there are three basic types of insurance agents out there: There are benefits to all three, but we’re firm believers that when it comes to properly protecting your family or business, the perks of independent insurance agents are second to none. And here are 4 reasons why… Number 1– Independent insurance agents work for you, not the insurance company. Our job isn’t to sell a product, but to understand the needs of your family or business and find…

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Auto Insurance Costs

By Amelia | January 17, 2023

If you own a vehicle, you should own an auto insurance policy. Have you ever wondered how the cost of your policy is determined? There are a number of different factors that impact the cost of your auto insurance. While not all companies use the same parameters, Platt Insurance will help you understand what commonly determines the bottom line of your auto policy. First, your driving record – The better your record, the lower your premiums. If you have been in accidents or had serious traffic violations, it is likely you will pay higher premiums. How much you use your…

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Will Business Interruption Insurance Cover Coronavirus?

By Ellie Platt | March 16, 2020

The most frequently asked question we’ve received over the last couple of weeks is- Will Business Interruption Insurance Cover Coronavirus? As a small business owner myself, I completely understand this question. An unexpected closure would certainly create a hardship for our agency and the employees who depend on us for their livelihood. Sadly, the answer to this question for most businesses is usually, “No”. However coverage will depend on your individual circumstances, as well as the contract language of your policy. Coverage and policy wording can vary dramatically, so it is important that you consult with our agency or your…

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