Zeiler Insurance of Illinois provides a variety of home insurance options for those looking to protect their properties from several events, including fire and theft. Homeowner's insurance policies can be very versatile depending on the type of coverage you want.
One common situation where home insurance is required is during a home purchase when a homebuyer takes out a mortgage to pay for the property. In this case, lenders usually require that homeowner's insurance be purchased as part of the home loan process. It’s important to understand the details of your situation to pick the right homeowner’s insurance.
Most types of home insurance come in two different parts. One part covers direct property damage to a dwelling on the property, as well as personal belongings that may have been damaged, up to a certain amount. This type of coverage can be extended to other buildings (like sheds on your property), or to include belongings that would not otherwise be covered.
The other part is liability insurance that applies if others suffer injuries on the property or because of the property/belongings covered. This can be expanded to include more medical payments, etc.
It’s important for policyholders to understand that home insurance doesn’t cover everything that happens to a home. Problems caused by ongoing damage (rot, wear, and tear, etc.) are not covered with this type of policy. Neither are specific catastrophic events that include floods, earthquakes, and sewer problems.
Illinois also has unique laws that may govern what homeowner’s insurance can cover, and when. For example, in Illinois policies can cover damage or injuries suffered by snow and ice, but only in the case of “unnatural accumulation.”
To find out more about what type of home insurance is right for you, contact Zeiler Insurance Services in Chicago, IL today, and we’ll help you find the policy you need.
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