Home Insurance That Covers What Matters

Actual cash value pays what your stuff was worth at the time it was damaged or stolen, factoring in depreciation. So if your five-year-old couch gets destroyed, you'll get what a used five-year-old couch is worth. Replacement cost coverage pays to replace it with a new couch of similar quality. Replacement cost costs more but gives you much better protection. For most people, it's worth the extra premium.

Standard home insurance doesn't cover flooding or earthquakes. You need separate policies for those. In Chicago, earthquakes aren't a major concern, but flooding can be an issue depending on where you live. If you're near a river or in a flood zone, you'll want to look into flood insurance through the National Flood Insurance Program. We can help you figure out if you need it.

Your coverage should be enough to completely rebuild your home if it's destroyed. This isn't the same as your home's market value-rebuilding costs can be higher or lower depending on construction costs in your area. We'll help you calculate the right amount based on your home's size, features, and local building costs. For liability, we usually recommend at least three hundred thousand to five hundred thousand dollars, more if you have significant assets to protect.

Maybe. It depends on what kind of claim and how many claims you've filed recently. A single claim for something beyond your control-like a tree falling on your house during a storm-might not affect your rates much or at all. Multiple claims in a short period, or claims that suggest negligence, are more likely to impact your premium. Sometimes it makes sense to pay for small repairs out of pocket rather than filing a claim.

Several ways to save: Increase your deductible (just make sure you can afford to pay it). Install a security system or smoke detectors. Bundle with auto insurance. Improve your home's safety features like updating electrical or plumbing. Maintain good credit. Stay claim-free. Ask about discounts for being a long-term customer. We'll review all the discount options you qualify for when we prepare your quote.