What to Know about Homeowners Insurance

What Does an Illinois Homeowners Insurance Policy Cover?

Home insurance is designed to cover you against most of the risks you are likely to face as a property owner in Illinois. If you own any particularly valuable property such as fine art or family heirlooms, or if you have an excessive amount of expensive electronics or jewelry, your insurance agent can advise you about whether additional endorsements are necessary for these items to be fully covered.  You can expect your homeowners insurance to provide you with the following:

1. Coverage against damage to your house: The dwelling coverage portion of your policy is designed to cover damage to the structure of your house, including built-in appliances and attached structures like decks and porches. You will want to have enough dwelling coverage to enable you to rebuild your home if it is destroyed by a major event like a fire or tornado.
2. Coverage against damage to your property: The contents coverage portion of your policy is designed to cover the cost of repairing or replacing the personal property you keep in your house if it is lost or damaged by a covered event like a fire or burst pipes.  You will want to be sure that your contents coverage is sufficient to cover your most valuable property.
3. Coverage for temporary living expenses, when needed: The loss-of-use portion of your policy is designed to cover the costs that go beyond your normal living expenses if you must seek temporary living arrangements, like a hotel, while your home is being repaired following a covered event. 
4. Coverage against property crimes: If burglars or vandals target your home, your insurance can cover the cost to replace your stolen items as well as to repair any damage the criminals may have caused. Many home insurance companies offer policy discounts to homeowners who have burglar alarms or other active theft deterrents.
5. Coverage against liability lawsuits: Homeowners insurance policies include personal liability coverage. This can help pay for your legal expenses and damages if you are sued for negligent actions that cause others to suffer property damage, injuries, or financial harm. This can include damage and injuries that occur both on and off your property.

Be aware that flood damage is not covered by homeowners insurance. Many residents of Illinois are at risk for experiencing flooding, so be sure to talk to your insurance agent about the benefits of supplementing your home insurance policy with federally backed flood insurance through the National Flood Insurance Program (NFIP).

Top Insurance Companies that Support Independent Agents in Illinois

There are currently 1,184 independent insurance agencies in Illinois that are ready to help you find the best home insurance policy. These agents are free to work with a variety of insurance companies, so they can provide you with a selection of customized homeowners insurance quotes that you can review and compare together. Let a local independent agent help you find the best policy to meet your coverage and budgetary needs.