If you own a home in the state of Ohio then you should have a good home insurance policy to keep you, your belongings, and your loved ones protected. However, when it comes to home insurance coverage it’s not always clear what’s covered under the umbrella of your home insurance policy.
If you’re a homeowner who keeps cash on hand, then you need to make sure that your home insurance policy covers cash in the event of a theft or unexpected disaster that can damage your belongings.
As a general rule, most home insurance policies provide only $200 amount of coverage for coins, gold bars, silver, banknotes, and cash, which is not sufficient for individuals who keep the bulk of their money in home safes. If you experience theft or loss of cash it can completely devastate your lifestyle and leave you in the hole.
To be on the safe side you need to ask your agent or home insurance carrier exactly how much coverage is provided for the loss of your valuables, including cash. If you keep cash in your home, then you need to ensure that your home insurance policy covers that cash in the event of a loss.
One safe option for homeowners who like to keep cash on hand is keeping cash and other high-value items in a safety deposit box. While safety deposit boxes may not be an ideal option for those who like to keep cash on hand, safety deposit boxes are actually much safer locations for cash and other tangible valuables.
The bottom line, if you want to know if your home insurance policy covers cash stored in your home, you need to ask your insurance provider or home insurance agent!
Beck Insurance Agency offers a range of home insurance coverage options for residents living in Bryan OH, Swanton OH, Montpelier OH, Toledo OH, Defiance OH, Sylvania OH, and the surrounding areas. Working with reputable insurance carriers, Beck Insurance Agency has a reputation for finding its clients practical and affordable insurance solutions for their specific needs. Visit https://www.beckinsurance.com/ to learn more about Beck Insurance Agency and explore the home insurance options available to you.
