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Buying a home in the Miami Valley is a major investment—and protecting it is just as important as purchasing it. From required policies to optional coverage that offers peace of mind, understanding the types of insurance available to Ohio homeowners can save you money, stress, and risk down the line.
As a local real estate expert, I’ll walk you through what’s required, what’s recommended, and how to make smart decisions as a new homeowner in Dayton and the surrounding areas.
What Is Homeowners Insurance?
Homeowners insurance is required by your mortgage lender and protects your property and belongings from damage or loss due to fire, theft, storms, and other covered events. This policy also includes personal liability coverage.
Standard coverage includes:
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Dwelling (the home’s structure)
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Personal property (your belongings)
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Liability protection
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Additional living expenses if the home becomes uninhabitable
Pro tip: Shop around for quotes and consider bundling home and auto for better rates.
What Is Title Insurance?
There are two main types of title insurance in Ohio:
Lender’s Title Insurance
This is required for most home loans and protects your lender’s interest in the property in case of title defects or ownership disputes. It’s paid at closing and the coverage decreases as you pay down your loan.
Owner’s Title Insurance
This is optional but highly recommended. It protects your ownership rights and financial investment if issues like unknown liens, recording errors, or past ownership disputes arise after purchase.
Why consider Owner’s Title Insurance?
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One-time premium with lifetime protection
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Covers hidden or undisclosed title issues
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Typically costs 0.5%–1% of the purchase price in Ohio
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Peace of mind for your largest investment
What Is a Home Warranty?
A home warranty is a service contract that covers repair or replacement of major home systems and appliances for a set period, usually one year.
Commonly covered items:
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HVAC system
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Plumbing
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Electrical system
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Water heater
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Built-in appliances
Consider a home warranty if:
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You’re buying an older home
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The seller isn’t providing one
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You want predictable repair costs in your first year
Understanding HOA Fees and Responsibilities
If you’re purchasing a home in a community with a Homeowners Association (HOA), you’ll be responsible for monthly or annual dues.
HOA fees typically cover:
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Maintenance of shared spaces
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Landscaping and snow removal
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Access to amenities like pools or clubhouses
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Trash services (varies by community)
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Building insurance (for condos)
Before buying in an HOA community:
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Read the bylaws and rules
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Understand the full fee structure
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Review the HOA’s financial health
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Ask about pending or possible special assessments
Other Important Insurance Options
Flood Insurance
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Not included in standard homeowners policies
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Required in FEMA-designated flood zones
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Available for any property regardless of risk zone
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Must be purchased separately through the National Flood Insurance Program (NFIP)
Umbrella Insurance
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Provides extra liability protection above your homeowners policy
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Protects your assets if you’re sued
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Often inexpensive for large coverage limits
How to Make Smart Insurance Decisions
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Don’t just get the minimum—consider full replacement cost coverage
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Document belongings—keep a digital inventory
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Review policies yearly—your needs may change
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Understand your deductibles—higher deductibles can lower premiums
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Ask about discounts—security systems, bundling, and new construction may qualify
Ready to Protect Your Miami Valley Home?
Insurance isn’t just a formality—it’s your financial safety net. Whether you’re a first-time buyer or a seasoned homeowner, having the right protection in place gives you confidence and peace of mind.
Need help navigating your insurance options in the Dayton area?
I can connect you with trusted local insurance agents and help you choose the right coverage for your situation.
Contact Claire Dunn Real Estate today and protect your investment the right way.
