Opinions on level of coverage

[Nicole S.]

I am pricing out insurance companies right now and I’m swimming in coverage line items. Besides loss and liability, what other coverage do you recommend (property is in Ohio)?

Also the level of coverage... the first quotes were *really* high, so I started to question how much coverage I needed. For example, some quote full replacement cost, while others cover ARV.

Finally, what are the gothca’s I need to ask about?

Thanks BP! As always, I appreciate you!

Nicole

[Jason Bott]

@Nicole S. $1M General Liability, no need for Medical Pay. 

Please keep in mind Med pay coverage is where you ask the insurance company to

voluntarily pay for someone's injuries, so the injured party does not need to sue you under the General Liability policy.

I have personally used this coverage on my homeowners policy.  My wife's grandmother fell down at my home, damaged her dentures to the tune of $6,000.  We asked our homeowners policy to pay so that Grandma didn't have to file a lawsuit against her granddaughter.

Most landlord policies do not even offer Med Pay, and just assume the tenant will need to bring suit against the landlord if they want coverage.