While most people in the Youngstown area are familiar with the basic coverage provided by standard home insurance policies, there are several additional protections that you may not be aware of. These hidden coverages provide an extra layer of security and can be invaluable in certain situations.

“Identity theft has become increasingly common today, with hackers and scammers constantly finding new ways to steal personal information,” said Brian Wolf, insurance advisor for McMichael Insurance and a Youngstown native. “Some home insurance policies provide coverage for expenses related to identity theft, such as legal fees, credit monitoring services and even lost wages due to time spent resolving the issue,” said Mr. Wolf. “This coverage can be a lifesaver if you fall victim to identity theft, as it can help cover the financial costs and provide you with much-needed support during a stressful time.”

Standard home insurance policies in Youngstown typically cover damage caused by sudden and accidental events like a burst pipe or fire. However, they often exclude coverage for equipment breakdown, which refers to the sudden and unexpected malfunction of household appliances or systems (e.g., your HVAC system or home electronics). Equipment breakdown coverage can help protect you from the costly repairs or replacements associated with these breakdowns, offering peace of mind and saving you from unexpected financial burdens.

Service lines, such as water, sewer, or electrical lines, are typically located outside your home and are responsible for delivering essential services. If any of these lines become damaged due to wear and tear, rot or other factors, the repair costs can be significant. Many home insurance policies now offer service line coverage, which can help cover the expenses associated with repairing or replacing damaged service lines.

Water damage is one of the most common claims filed under homeowners insurance. While standard policies usually cover damages caused by sudden and accidental water leaks, they often exclude coverage for water backups from sewers or drains. Water backup coverage can help protect you from the financial costs associated with water damage caused by these backups, including clean-up expenses, repairs and replacing damaged belongings.

In the event of a loss, building codes and regulations may require repairs or upgrades that weren’t part of the original construction of your home. Ordinance or law coverage helps cover the costs associated with complying with these regulations. This coverage is especially crucial for older homes, as they might need additional upgrades to meet current building codes.

By familiarizing yourself with these additional protections, you can make informed decisions about the coverage you need and ensure that you are adequately protected against unexpected events.

Let McMichael Insurance help you find these coverages.