Category: Home Insurance

What is a Loss of Use Policy in Home Insurance?

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When purchasing home insurance, it’s important to look at the various policies that are available to you. At AHI Group, our team likes to design specific policies that will fully insure the people of Olathe, KS. One type of coverage to consider is loss of use, an insurance policy that pays for additional living expenses. 

What Situations Require Loss of Use Insurance?

Additional living expenses, also known as ALE, are usually incurred from unexpected life events. If a fire or a storm damages your home, then you might have to move into a temporary residence as your home gets rebuilt. Whether it’s a hotel room or a rented RV, temporary living can be surprisingly expensive – potentially creating new costs for your living situation. For example, if you don’t have a fridge in your temporary home, you might resort to buying restaurant food or quick meals from a convenience store. There could be additional costs from new clothing, health supplies, and beauty products – items that are sometimes lost from property damage.

What Does Loss of Use Cover?

In a home insurance policy, a loss of use policy will cover hotel stays, vehicle fuel, and other necessary expenses while you’re living outside your home. This policy is especially useful if you’re living in a hotel room that is more expensive per month than your actual residence. 

Getting Loss of Use in Olathe, KS

If you’re interested in including loss of use in your home insurance plan, then please contact one of our agents in Kansas. You can call the AHI Group to learn more. We offer other types of coverage, so feel free to ask about those policies as well. 

Bundling Home and Auto Insurance in Kansas: Combining Protection and Savings

Posted on by AHI Group

Bundling policies to reap the benefits of great savings is an often talked-about, but seldom often acted-on means to enhance both the convenience and accessibility of your insurance documents and your savings potential. As both a responsible homeowner and a vehicle owner, you understand the importance of safeguarding your assets and loved ones. But did you know that bundling your insurance policies can offer you more than just peace of mind? In this article, we’ll delve into the advantages of combining your home and auto insurance coverage, particularly tailored to the unique needs of Kansas residents. From potential cost savings to simplified management, we’ve got you covered!

*Note: Not all insurance policies qualify for “bundle and save” discounts, and the exact discount percentage will vary from carrier to carrier. Keep that in mind when purchasing policies through the same carrier, and don’t hesitate to reach out to an agent to ask about savings opportunities!

Why Do Insurance Companies Reward “Bundling?”

What is the point of rewarding return customers, anyway? Well, there’s a good reason why insurance companies offer discounts for policyholders who choose to “double up” with them.

Enhanced Risk Assessment

By offering combined coverage for home and auto insurance, insurers create a win-win scenario for both themselves and policyholders. One of the primary drivers behind this practice is risk mitigation. When a policyholder bundles multiple insurance policies with the same company, it reduces the overall risk exposure for the insurer. This is because they have a more comprehensive view of the customer’s profile, enabling them to better assess and manage potential risks.

Increased Customer Retention

Also, bundled policies can help increase customer retention. Consolidating insurance coverage makes the process more convenient for the customer, allowing them to access, pay, and file claims easier. This streamlined experience fosters loyalty and reduces the likelihood of customers seeking coverage elsewhere. Insurance companies recognize this and, in return for customer loyalty, offer various discounts and incentives, making bundling an attractive proposition.

Reduced Administrative Costs

From a financial perspective, bundling can also lower administrative costs for insurance companies. Managing a single account requires less administrative overhead than managing multiple individual policies. This cost efficiency is reflected in the form of discounts and reduced premiums offered to policyholders who opt for bundled coverage. In essence, insurance companies reward bundling as it aligns with their operational efficiencies, risk management strategies, and customer retention goals.

The Benefits of Bundling Auto and Home Insurance as a Policyholder

In our busy day-to-day lives, with so much on the go, wouldn’t it be better to have just one aspect of your life as streamlined and as easy as possible? Bundling your home and auto makes, at the very least, that part of your home and car ownership duties so much easier.

Here are three key benefits to bundling auto and home insurance as a policyholder.

Cost Savings

One of the most appealing advantages of bundling auto and home insurance is the potential for significant cost savings. Insurance companies often provide policyholders with discounts when they choose to bundle their coverage. These discounts can translate into lower overall premiums compared to purchasing separate policies. This financial relief can be especially beneficial in states like Kansas, where homeowners and drivers alike face potential risks such as severe weather events and accidents. By bundling, policyholders can secure comprehensive coverage while enjoying valuable financial savings.

Simplified Management

Managing insurance policies can become overwhelming, especially when dealing with different providers, renewal dates, and policy details. Bundling simplifies this process by consolidating everything under one roof. Policyholders have a single point of contact for inquiries, claims, and payments, streamlining their administrative tasks. This convenience not only saves time but also reduces the likelihood of missing important updates or payments. With the demands of modern life, having one less thing to worry about can bring peace of mind to homeowners and drivers alike.

Enhanced Coverage and Flexibility

Bundling auto and home insurance doesn’t just lead to savings—it can also result in enhanced coverage options. Insurance companies often offer additional benefits and perks for bundled policies, such as increased liability limits, extended coverage for valuables, or coverage for rental cars in case of accidents. Moreover, policyholders may have more flexibility to customize their coverage to match their specific needs. This tailored approach ensures that both their homes and vehicles are well-protected against potential risks, giving them greater confidence in their insurance coverage.

Note, however, that not every insurance company will offer these benefits to return customers. It helps to check, though! Give your agent or direct provider a call to ask about bundling rewards.

How to Start Bundling Your Home and Auto Insurance

Choosing to bundle your home and auto insurance is a straightforward and rewarding process. To begin, reach out to either your agent here at AHI Group or your provider directly and request quotes for bundled coverage. They will guide you through the information they need, such as details about your home, vehicles, and any additional coverage preferences. Don’t hesitate to ask questions to ensure you fully understand the coverage you’re getting and the potential discounts available.

Once you’ve gathered quotes, take the time to compare the coverage, costs, and benefits offered by different providers. This step is crucial in making an informed decision that aligns with your protection needs and budget. Remember, bundling isn’t just about financial savings—it’s about securing comprehensive coverage that addresses your specific circumstances. AHI Group is happy to help you find the right company for both your home and auto insurance needs, and wants to help you along on your journey to enjoying the advantages of bundled home and auto insurance.

What Factors Determine Home Insurance Rates in Nebraska?

Posted on by AHI Group

Year-round threats of disasters ranging from lightning storms and tornadoes to record-breaking snow dumps make home insurance in Nebraska a must. If you have a mortgage, odds are you’re probably in need of home insurance anyway – and even if you don’t, you’ll want to protect your asset!

How much you pay for your homeowners insurance depends mostly on your home’s replacement cost and how much dwelling coverage it requires. Don’t think that skimping on your dwelling coverage will save you money – if there’s a disastrous loss, you’ll be responsible for paying the difference between what your home would cost to rebuild and what it’s insured for! 

Let’s take a look at the average cost of home insurance in Nebraska and the most common rating factors for home insurance.

What is the Average Cost of Home Insurance in Nebraska?

The average cost of homeowners insurance in Nebraska for a policy with $300,000 in dwelling coverage is estimated to be about $3,510/year. Below is a breakdown of how an increase in your dwelling coverage limit might impact your rates.

  • A home with a $200,000 dwelling coverage limit is estimated to cost $2,660/year to insure.
  • A home with a $400,000 dwelling coverage limit is estimated to cost $4,369/year to insure.

By comparison, the national average (as of September 2023) sits at about $1,754/year. Home insurance in Nebraska tends to be higher than in most other states, in part due to its volatile weather patterns. We’ll get into a little more detail about why that matters in the sections below.

Rating Factors for Home Insurance in Nebraska

Insurance companies in Nebraska use complex algorithms to assess these factors and determine your premium. To get more accurate information for your situation, consult with a rep from AHI Group.

Home Safety Features

Having security systems, smoke detectors, burglar alarms, and other safety features can reduce the risk of theft and damage, potentially leading to lower premiums. Also, the proximity of your home to a fire hydrant or station can impact your premium. Homes closer to fire protection services may have lower premiums since they’re likely to receive help in time if there’s an accident.

Claims History

Your past insurance claims can influence your premium. If you’ve had multiple claims or high-value claims, insurers might view you as a higher risk and charge higher premiums.

Home Characteristics

Things like construction, age, etc. can affect insurance costs. Newer homes or those built with fire-resistant materials can have lower insurance premiums. The square footage of your home and its overall value can also contribute to the replacement cost, which affects the premium, and the type of your roof (whether it’s fire-resistant, more durable, made from metal, etc.) can play a role.

Location

The geographic location of your home plays a significant role. Factors like the distance to a fire station, proximity to water bodies (which could increase flood risk), crime rates in the area, and the history of natural disasters in the region can impact your premium. Nebraska has a volatile weather history, but some cities are more prone to poor weather than others.

Deductible

The deductible is the amount you agree to pay out of pocket before the insurance coverage kicks in. A higher deductible often leads to lower premiums, while a lower deductible increases your premium.

The Weather in Nebraska

Nebraska is no stranger to extremes in weather, which is one of the major reasons why home insurance costs are so high in the state. Larger cities closer to bodies of water or that are just generally closer together may also be more subject to rate hikes.

Fires in Nebraska have become more frequent due to potential climate change impacts, burning tens of thousands of acres and removing people from their homes. In April 2022, two fires two weeks apart burned a chunk of land near the size of Omaha by Cambridge, resulting in almost $2.3 million in damages. As insurance companies respond to claims of houses having been burned down, and roofs ripped off by severe weather, they’re having to raise their premiums to ensure their pool is sufficient to continue paying out more claims. And what does this mean? Higher premiums.

Combating Higher Premiums with AHI Group

While Nebraska does see some of the highest home insurance premiums, all is not lost. AHI Group has plenty of reputable insurance carriers that we do business with, and we’re happy to find you a match that gives you the best price. We’ll also provide you with tips on how to save money, such as:

  • Installing smoke alarms and burglar alarms
  • Raising your deductible
  • Qualifying for multiline insurance discounts
  • Taking preventative safety measures around the house
  • Replacing your roof with fire-resistant materials

Give us a call today to start a quote for your Nebraska home insurance. We’re happy to help you find a more affordable solution so you can continue protecting your home with ease of mind.

Does Homeowners Insurance Cover Students at College?

Posted on by AHI Group

It’s that time of year again. Summer’s behind us and the leaves are turning red, yellow, and brown. Whether this is your child’s first time away at college or going into their second, third, or even fourth year, keeping your child’s school possessions, such as their laptop or bike, safe should be a priority. You might be wondering what kind of insurance will cover them, whether that’s a policy that needs to be acquired separately or if they’ll have coverage under your existing home policy like they would have when they were still living at home. AHI Group is happy to keep parents and students informed as we begin transitioning back into school. For many, this can be an exciting, stressful, or even overwhelming time – so we’d like to take at least one worry off your shoulders. The short answer is: yes, your homeowners insurance will provide some coverage for your college student’s belongings, but conditions can apply.

If Your Child is Living in a Dorm…

Then coverage will typically apply. For example, say your child’s bike was stolen. In this case, and assuming your student is living on campus in a resident dorm, your home insurance may cover the costs to repair or replace the bike. Your home insurance might also apply if your child accidentally injured someone or caused damage to campus property (although it would be your personal liability coverage that would kick in, not your contents coverage).

Depending on the insurer, however, coverage can vary and be limited. You’ll need to discuss your child’s situation with your insurer to confirm that they will have coverage. Oftentimes, the insurer will require the child to be under a certain age and live in a campus dorm. They may also limit how much they will pay out for property damage/theft that occurs while your child is living away from your home.

How Does Home Insurance Cover a College Student Living on Campus?

As long as your child meets your insurer’s qualifications, they can have coverage under their parent’s home insurance policy. In this case, two aspects of your home insurance (as the parent) will apply in the event something happens: your contents coverage and your personal liability coverage.

  • Your personal property coverage may help your child cover the costs of repairing or replacing any of their belongings if they’re stolen or damaged (although the damage would have to be due to a covered peril, like weather or fire.)
  • Your personal liability coverage may help cover your child if they are legally responsible, or liable, for damages to property or someone else’s injuries. This coverage can pay out for damages, including property repair, medical bills, and legal defence.

In the event, that your child’s dorm is broken into and their laptop is stolen, or they’re held responsible for damaging campus property accidentally, you could file a claim with your insurance company, who could then reimburse you for the stolen laptop or pay for the damage costs. Your child should keep an inventory with receipts or other documentation of their belongings to expedite the claims process and ensure a quick and fair settlement.

You would also still be responsible for paying out your home insurance deductible in the event of a claim, specifically when you’re filing a claim under the contents portion of your coverage. Common policy deductibles range between $500 to $1,500, so if the amount lost is anything less than this, your claim would likely end up being denied. 

When Would a Child Not Be Covered?

Certain insurers may not insure your student away from home while attending college if they:

  • Don’t live on campus/college-sanctioned housing
  • Are older than a specific age (usually 25)
  • Are not a full-time student attending the college

If your child lives in a separate apartment or building off-campus, then they would likely need their own tenant’s insurance policy to cover their belongings. 

When Does My Child Need Renter’s Insurance?

College students may be deemed ineligible for coverage under the parent’s homeowner’s policy if they are living off-campus, or sometimes if they’re not a full-time student or above a certain age. They may, at this point, need their own renter’s insurance. Renter’s insurance is a limited form of home insurance that covers the tenant’s liability and belongings. Usually, the building that the renter is living in will be covered by the landlord who owns the property (hence why the tenant’s insurance doesn’t include a dwelling component, as the building isn’t owned by them.) 

Renter’s insurance is one of the cheapest insurance policies on the market, costing as little as $10/month with relatively low deductibles. Certain companies will also offer dorm insurance, which is very similar to renter insurance but a little more tailor-made for those living in dorms and not apartments. 

Plus, if your child has a car, they can qualify for a multiline policy discount by bundling their renter’s insurance with their auto policy! Most, if not all insurers offer bundle discounts for renter’s insurance.

Discuss with an AHI representative today if you’re sending off a child to school and you’re concerned about coverage for their possessions. We’re happy to discuss existing coverage and to explore the possibility of a separate renter policy for your child.

World Lung Cancer Day: Raising Awareness, Why it Matters, & How it Affects Your Insurance Costs

Posted on by AHI Group

As an insurance agency that deals in the selling of life insurance, but also harbors a strong commitment to protecting families, we understand the profound impact that health-related issues can have on both individuals and their loved ones. One such concern that demands our unwavering attention is lung cancer – a formidable adversary that continues to affect millions of lives worldwide. In honor of World Lung Cancer Day, we aim to shed light on this pressing matter, delving into why raising awareness is crucial, the far-reaching implications it holds, and its significant influence on insurance costs.

In this blog, we will explore the reasons behind the correlation between lung cancer and insurance costs, as well as the steps individuals can take to secure their financial future in the face of such challenges. Moreover, we will emphasize the significance of proactive measures in reducing the risk of lung cancer, fostering a healthier society, and potentially mitigating insurance-related concerns.

At AHI Group, we believe that empowering individuals with knowledge and awareness is an integral part of our commitment to safeguarding their well-being and financial security. By delving into the realms of lung cancer, its impact on insurance, and the importance of collective awareness, we hope to pave the way for informed decisions, improved support systems, and, ultimately, a brighter, healthier future.

August 1st is World Lung Cancer Day

The “C” word is devastating for any individual, young or old. Each year, on August 1st, the world recognizes World Lung Cancer Day, a day created to raise awareness for a cancer that claims more lives per year than colon, prostate, and breast cancer combined. Lung cancer is extremely prevalent among the older generation, but we’re starting to see cases now emerge among younger individuals as well.

World Lung Cancer Day holds immense significance as it serves as a powerful platform to raise awareness about lung cancer, its risk factors, prevention strategies, and the dire need for early detection. This global observance brings together individuals, healthcare professionals, advocacy groups, and insurance agencies alike to unite in a common cause: combating the devastating impact of lung cancer on communities worldwide. By shedding light on this critical health issue, World Lung Cancer Day not only emphasizes the importance of fostering a greater understanding of the disease but also highlights the urgent necessity for robust support systems, improved access to healthcare, and enhanced research initiatives. Through collective efforts on this day and beyond, we can strive to reduce the burden of lung cancer, improve patient outcomes, and create a world where prevention, early intervention, and comprehensive insurance coverage play pivotal roles in safeguarding the well-being of individuals and their loved ones.

Insurance and Lung Cancer: Understanding the Impact of Smoking on Life and Home Insurance Costs

Lung cancer is one of the leading causes of cancer-related deaths worldwide, with smoking being the primary risk factor associated with this deadly disease. As an insurance agency, we cannot stress enough the critical link between smoking and the costs of life and home insurance. Understanding this relationship is vital for individuals seeking coverage, as well as for insurance providers determining policy terms and premiums.

When it comes to life insurance, smoking is a significant determinant in assessing an applicant’s risk profile. Smokers are exposed to a considerably higher risk of developing lung cancer, as well as other health issues such as heart disease and respiratory ailments. Consequently, insurance providers view smoking as a red flag, which can lead to higher premiums for smokers compared to non-smokers.

Similarly, the impact of smoking extends to home insurance costs as well. Home insurance covers various risks, including fire hazards, which can be heightened in households with smokers. Smoking indoors raises the likelihood of accidental fires, and insurance companies recognize this added risk. As a result, homes with smokers may be subjected to higher home insurance premiums to account for the elevated potential of fire-related incidents.

The critical importance of World Lung Cancer Day is critical importance for policyholders (both for life and home) who smoke. By understanding the profound impact that smoking has on insurance costs, individuals can be motivated to adopt healthier lifestyles and potentially reduce the financial burden of insurance premiums.

AHI Group: Helping You Save Money on Your Insurance This World Lung Cancer Day

World Lung Cancer Day serves as a poignant reminder of the far-reaching impact of lung cancer on individuals, families, and the insurance industry. As an insurance agency, we understand the significant implications that smoking and lung cancer have on life and home insurance costs. By raising awareness about the link between smoking and increased health risks, we hope to inspire individuals to take charge of their well-being and make informed decisions that can potentially lead to lower insurance premiums and comprehensive coverage.

In addition to understanding the impact that lung cancer has had on our loved ones, whether in our immediate family, our friends, or personally experienced, we can see how making healthier efforts – such as quitting smoking, eating healthier, and exercising – can not only secure a brighter future for ourselves and our loved ones but can even help us reduce some of our insurance costs. Give us a call at AHI Group to discuss more about reducing your insurance costs today.

Spring is a Great Time for a Home Insurance Review

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If you have a home, you know how important it is to protect your investment in it. It’s the place where your family feels safe and makes memories, and you want to take good care of it. Spring is a good time to review your home insurance policy and make sure you have all the coverage you need for your house. If you’re in the Olathe, KS area, AHI Group can review the policy you have and see what kinds of changes you might want to make.

Reviewing Your Home Insurance

In the springtime, everything feels fresh and new, and that can give you extra incentive to clean your house, donate items, and make changes. While you’re working your way through those changes, consider your home insurance policy. Does it need changes, too? If you’ve made improvements to your home, for example, or you’ve added detached structures like a shed, you may need coverage adjustments.

Working with our professional, dedicated insurance agents makes it easy and convenient for you to make any needed changes to your home insurance, so you can have more peace of mind and know that you’re protected. It’s a good idea to review your home insurance policy once a year and anytime you have a big change to your home for any reason. That way you’ll always have the level of coverage you need.

Give Us A Call

Our team at the AHI Group can help with your home insurance review if you’re in the Olathe, KS area. We know your home is very important to you, and you want to keep it safe. Insurance is one of the best ways to do that, and our agents are here and ready to help answer your home policy questions. After a thorough review from us, you’ll have the knowledge you need to make an informed decision about any coverage changes.

Things home insurance won’t cover

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Home insurance provides a safety net that homeowners count on to get them through good times and bad. Home insurance does offer a lot of protection, but there are some things that it just won’t cover. At AHI Group in Olathe, KS, our team knows home insurance, and we provide our customers with the information that they need to protect themselves as completely as possible. 

Things home insurance won’t cover

Expensive jewelry

One thing you need to do is to read your home policy to find out how much jewelry coverage you have. In most cases, it will be a shock to find that you have very little. You can add a rider to your policy to give you the coverage you require to make sure your jewelry is covered. 

Electronics

Another thing you need to check is your electronics coverage. If you are like most people, you have quite a few electronics and basic home insurance coverage is low. You can also add a rider to give you this coverage. 

Floods

Flooding causes a lot of damage, and if your home gets flooded, your home insurance won’t cover the damage. Luckily, if you are at risk, you can get flood insurance through the NFIP. 

Earth movement

Earthquakes, sinkholes, land, and mudslides are all excluded from your home insurance coverage. Again, if you feel you are at risk, you can buy an additional policy to cover this. 

Owner neglect

As a homeowner, you are responsible for maintaining your home. Home insurance won’t pay for things that just wear out or for a roof that has become leaky because it is old. Termites are not covered, you need to get termite treatment to protect yourself. 

Give Us A Call

Contact AHI Group in Olathe, KS when you need information or a home policy review. You can reach us at our office or give us a call. 

What every new homeowner needs to know about home insurance

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Home insurance is not something that most people have a lot of exposure to until they buy their first home. Suddenly, you are expected to be an expert. Most people aren’t. That is why they count on the AHI Group of Olathe, KS to help fill in the informational gaps. Our experienced team has many of the answers you may need and we are happy to share our knowledge as part of our customer service. 

New Owner’s Home Insurance: What You Need To Know

Home insurance has exclusions

You may feel as though your home is completely protected from anything that might happen to it when you purchase your first home insurance. That feeling is misplaced. Unfortunately, there are quite a few things that could happen that won’t be covered. Home insurance does not cover flooding, earth movement, any kind of owner neglect, and sewer backup. Most of these things can be covered by a rider or an additional policy. 

You have to choose the type of property coverage you want

Two types of content coverage are offered. You can choose to replace all the things you own at their current value, which includes depreciation, or you can cover them at the cost today to replace them with a similar item. 

How much liability insurance is enough?

Your liability coverage should reflect your level of risk and the number of assets that you have. One size fits all is definitely not the right route to take with this coverage. 

Some coverage has limits

When it comes to some of the things that you own, like jewelry, your policy will not cover unlimited amounts. If you have more than just an engagement ring, your coverage will probably be inadequate and you need to add a jewelry rider. 

Contact AHI Group

If you live in or near Olathe, KS, we can help you to get the right home insurance for your home and finances. 

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