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Illinois Home Insurance

Whether you’re a homeowner or renter, you need Illinois home insurance. Homeowners and renters insurance will pay the cost to repair any damage to your property and personal possessions in case something happens. But just because you’re insuring your most valuable possession doesn’t mean you Buying Home Owners Insurance In Illinois Is Easyhave to pay a lot for homeowners insurance – we’ll help you determine what you need, then find the best deal around. It’s fast, easy, and best of all free.

What Illinois Home Insurance Covers

Virtually all Illinois home insurance policies include the same basic coverage:

  • Property Coverage – This is the part that pays to repair your home if there’s a fire, windstorm, hail, etc. It usually includes detached buildings like garages or tool sheds. If your personal property gets stolen, whether from your house or anywhere in the world, this is what covers it, within the limits of the policy.
  • Liability – if you or someone in your family accidentally injures another person or causes property damage, this will pay the associated medical or repair expenses. It also pays lawyer fees
  • Medical Payments – if someone is accidentally injured on your property or by you or a member of your family, this covers the medical bills. It doesn’t cover your family’s medical expenses if something happens to them (that would be covered by health insurance).
  • Additional Living Expenses – if damage to your home means you can’t live there during the repairs, this will pay at least a portion of your motel and restaurant expenses.
  • Mine Subsidence – when you live in a county that has mines under more than 1% of the land, this coverage is automatically included. If you don’t want it, you actually have to sign a rejection form to exclude it.

Usually specific things are not covered in most Illinois homeowners insurance policies, including:

  • Wear and tear
  • Rotting
  • Lack of maintenance
  • Intentional acts
  • Catastrophic events (earthquakes, flood, war)
  • Sewer backup
  • Sump pump overflow
  • Trampoline injuries
  • Animal injuries

You can buy extra policy endorsements to add additional home insurance coverage in case you need it. The most popular endorsements are:

  • Personal property replacement cost – so you’ll receive the actual cost to buy new items instead of getting the depreciated amount
  • Building guaranteed replacement cost – pays any extra amount needed to rebuild your home, even if it costs more to replace than the limit of your home insurance policy.
  • Inflation guard – automatically raises the policy coverage limits each year to match increased costs for building materials and labor.
  • Business insurance – if you have a home business, this covers machines, tools and liability.
  • Scheduled personal property – for people with lots of stuff, or very expensive stuff, which exceeds the normal limits of the policy. It’s important to have buy this coverage if you have expensive cameras, computers, antiques, jewelry, or collectibles.

Types of Illinois Homeowners Insurance Coverage

It’s important to choose the right level of coverage to fit your needs and budget. Basically there are three different levels.

  • Actual Cash Value – pays out the replacement cost of the property, minus depreciation. Though this is the least expensive coverage available, if something happens you’ll have to make up the difference between what your property costs to replace and its value after depreciation.
  • Replacement cost – this home insurance coverage pays to rebuild or replace your residence at today’s costs. Though this costs more, it’s still much less expensive than having to pay the difference between the depreciated value and the replacement cost.
  • Guaranteed Replacement Cost – This is the most comprehensive type of coverage, and will cover the complete cost to replace your home, even if it’s more than the actual limit of your policy.

Time to Shop for Illinois Home Insurance

Now that we’ve covered the basics, you’re ready to start shopping for the best deal on Illinois homeowners insurance. It’s easy to begin the process. Just enter your zip code below and you’ll be instantly matched with excellent insurance companies offering coverage in your area. Click on the three or four which sound the best to you, and request a free quote. Then you’ll be able to compare coverage and premiums, and choose the one that best fits your needs and budget. What are you waiting for? Start saving on Illinois home insurance right now!

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