Are Other Structures on My Property Covered My Under Homeowners Policy?

Do you have a she-shed, separated garage or a distinct storage structure on your Mount Prospect, IL property? If so, it’s not unusual to wonder whether your basic structures are covered under homeowners insurance. There is an addendum called "other structure coverage that pays for repairs or replacement in certain situations. Structures damaged by a covered risk may be covered to help pay for repairs or replacement. Here are some considerations concerning structure coverage.

What Is Considered An Outdoor Structure?

When the winds kick up or a storm rolls through, your home itself is a primary concern. However, these weather conditions or other acts of nature can also damage outdoor implements such as:

  • Detached Garages
  • Fences
  • Gazebos & Pergolas
  • Fences
  • In-Ground Swimming Pools

If covered, these structures will fall under the "other structures" addendum in your policy, along with the same perils as your home. Ensure your policy covers theft, falling objects, fire, and vandalism.

How Much Does My Policy Cover for Other Structures

Other structure coverage is often based on a percentage of the coverage on the dwelling. For example, if you have $400,000 in home insurance coverage, other structures not attached to the home reimbursements are approximately $40,000. This is why it’s essential to review and update with Com-Co Insurance Agency Inc. before making high-dollar additions. You’ll appreciate having this coverage in place should there be a loss.

Looking for Homeowners Insurance in Mount Prospect, IL?

We make ensuring that you have adequate coverage easy, and it all starts with a great real estate broker. Whether buying or selling, view the overall cost/savings, and our Com-Co Insurance Agency Inc. agents will ensure your investments are adequately insured for your peace of mind. Contact us today!

Three Summer Time Risks To Your Home

During the summer, your home will face unique risks that you should be aware of. At Com-Co Insurance Agency Inc., serving Mount Prospect, IL, and the surrounding areas, we want to help homeowners be mindful of these risks so that they can make intelligent choices. Keep reading to learn about three summertime risks that could affect your home. 

Swimming Injuries 

If you have a pool on your property, summertime is prime time for water injuries. Pool injuries can include many different types of injuries, some mild and some severe. There are several steps you need to take as the property and pool owner to ensure these risks are minimal. You should install a fence around your pool to cut down on the risks of drowning or water injuries. You can also always insist that an adult is on watch anytime kids are in your pool. There should also be rules for those using your pool to reduce the chance of slip and fall injuries. 

Pest Infestations 

Bugs are most active during the summer, so there is an increased risk of pest infestation during this time. To prevent pest infestations, ensure your home and property are kept clean and clutter-free. Standing water should always be disposed of quickly, and pets should be regularly treated for fleas.

HVAC Problems 

When running the AC constantly during the summer, you risk system issues. To prevent problems with our AC unit this summer, be sure to schedule regular maintenance and tune-ups. 

If you’d like to learn about homeowners insurance, please get in touch with us at Com-Co Insurance Agency Inc., serving Mount Prospect, IL, and the surrounding areas. We will be happy to help you. 

Five things you should know about home insurance

When looking for home insurance, there are many things you need to know to get the right insurance plan for you. Below are five things you should know about home insurance.

Decide how much coverage you need.

The amount of coverage you need depends on various factors. If you live in an area with a higher risk of damage, you will need more coverage than if you live somewhere that doesn’t. A person with a bigger house and more assets will need more coverage than someone with a smaller house. A good rule of thumb to determine the amount of coverage you need is to multiply the square footage by the cost of the materials it would take to rebuild your home.

Insurance is required by your lender.

Unlike auto insurance, most states don’t require you to have insurance on your home. You will still need home insurance if you have a mortgage. Most lenders require a homeowner to have insurance before you can sign on for a loan.

There are discounts available if you ask.

If you ask around, many insurance companies have discounts available. The available discounts depend on the location of your home and many other variables.

Read your policy carefully.

Not all insurance policies are created the same. Ensuring your policy has the right coverage for your home is vital. You might find that some things you thought were covered are not covered by your insurance. Most insurance companies will not cover flooding, earthquakes, or storms. Unfortunately, if your home is in a place where there is a higher chance of flooding, you will need to get separate insurance for flooding.

Standard coverage available

Some standard home insurance coverage options include the following:

  • Dwelling coverage
  • Other structures coverage
  • Personal belongings coverage
  • Liability coverage
  • Loss of use coverage

Contact Com-Co Insurance Agency Inc.

For more information about home insurance, contact us or visit Com-Co Insurance Agency Inc in Mount Prospect, IL.

Understanding What Types of Damage Home Insurance in Mount Prospect, IL Can Cover

Home insurance is essential for any homeowner. It protects from unexpected events that can cause severe damage to your home and its contents. But what damage does home insurance typically cover in Mount Prospect, IL? Let’s look at the different coverage you may find with Com-Co Insurance Agency Inc. 

Natural Disasters 

The most common type of damage home insurance covers is natural disasters. This includes things like fires, floods, earthquakes, and hurricanes. Generally speaking, most policies will cover any damages caused directly by these events. However, it’s important to note that certain conditions can affect how much coverage you receive—such as whether you live in an area prone to certain weather-related disasters. 

Theft and Vandalism 

Besides natural disasters, many home insurance policies provide coverage for theft and vandalism. If someone breaks into your house and steals something valuable (or causes intentional damage), your policy will help reimburse you for repairing or replacing the stolen item(s). 

Liability Coverage 

Another type of coverage offered by many home insurance policies is liability coverage. Liability coverage helps protect you from lawsuits related to accidents or injuries on your property—anything from a slip-and-fall accident to a dog bite incident. Depending on your policy, this coverage may extend beyond physical injury, including financial loss, because of another party’s negligence. 

A home insurance policy can cover many types of damage. Still, it’s important to remember that each approach is different and may offer different levels of coverage depending on where and how you live. If you want to learn more about what damage your home insurance can cover in the Mount Prospect, IL, area, contact Com-Co Insurance Agency Inc today for more information!

How Much Home Insurance Do I Need?

If you have a home insurance policy, you should buy a sufficient amount to ensure it comes to your rescue when disasters happen. It can be frustrating to find out you have insufficient coverage when filing a claim. So, how much home insurance is sufficient? It’s never always a straightforward answer because it differs from person to person. However, Com-Co Insurance Agency Inc. in Mount Prospect, IL provides general guidelines to help you understand how much home insurance you need.

Meet your lender’s requirements

If your home is mortgage financed, your lender may require you to maintain a specific amount of home insurance. Most probably, the lender will insist the home insurance amount be equal to or more than the outstanding loan. While complying with your lender’s requirements, always know this is just a minimum requirement. Always stick your neck out for other home insurance policies.

How much dwelling and asset coverage is enough?

Always assume the worst-case scenario when insuring your building structure. How much would it cost to rebuild your home from scratch? That should be the value used to insure your home. Similarly, insure your assets, assuming an instance where they are all wiped out. However, prepare a home inventory to ensure none of your stuff is left out.

How much liability insurance is enough?

This is usually tricky because you never know the number of liabilities you will meet at any point. Most homeowners typically have liability coverage of $100,000. While this may seem sufficient, it’s likely to fall short when faced with significant liability claims. We always advise our clients to consider combined liability coverage of $300,000 and above. But if you need higher liability coverage, we advise you consider umbrella insurance.

Still not sure about the amount of home insurance required? If you are in Mount Prospect, IL, please call Com-Co Insurance Agency Inc. for tailor-made advice.

Are home insurance and homeowners’ insurance the same thing?

When you visit Com-Co Insurance Agency Inc. serving Mount Prospect, IL for home insurance, you may experience a little surprise to find out how many types of home insurance exist. The policy you purchase depends on the type of home you own.

Home insurance describes a category of insurance that includes homeowners, condo, renters, mobile homes, historical homes, and dwelling insurance.

Let’s take the obvious first. If you purchased a condo, you’d need a condo insurance policy. That type of home insurance covers "from the walls in" of your condo, meaning that it covers the interior of your condo and its balcony or patio. Condo insurance covers physical, structural damage, liability, and personal property damage.

Mobile home insurance covers only your mobile home with physical, structural damage, liability, and personal property damage. If you operate a home-based business, you’ll need to add a home business endorsement to any home policy.

A homeowners’ insurance policy covers a home you own for the same types of coverage as mobile home coverage. It does so for an increased amount, though. You can determine the number of perils you want this policy type to cover. Typically, these range from 10 to 16 or all perils coverage.

Historical home coverage falls within the category of homeowners’ insurance. Only the homeowner can purchase it. It covers the home for fewer perils but increases home replacement value.

Dwelling insurance, too, qualifies as homeowners’ insurance, but landlords can purchase it. It doesn’t cover personal property since the renters’ insurance policy does that. It only covers liability in the home’s public areas, such as the yard and front walkway.

Only an individual renting a residence can purchase a renters’ insurance policy. It covers none of the structure of the building but does fully cover the renter’s personal property and liability.

Contact Com-Co Insurance Agency Inc. serving Mount Prospect, IL for the home insurance policy that best serves your needs.

Finding the right insurance to protect your Illinois home

Mount Prospect, IL area residents have long turned to Com-Co Insurance Agency Inc. for their insurance needs. If your home is underinsured, or you want to make sure you have the right coverage, give us a call today.

The right insurance for your home

Like most Americans, your home is probably the most significant financial investment you will make during your lifetime. Because of this, it is vital to make sure that you have the proper protection for your needs. Having the right insurance takes a little effort, but it is worth it.

Many people follow the guidelines set forth by their bank or lending institution and figure that those coverage parameters meet their needs. While your bank has a vested interest in protecting your homes, your needs are not always fully aligned with theirs. This can cause homeowners to be underinsured in certain situations.

A situation like the above example is why we advise our clients to review their insurance needs themselves and check their policies at least once a year to ensure that they continue to meet those needs. Your home policy should cover the catastrophic and liability needs that you have. And, if you have specific needs outside of what your primary policy covers, then it makes sense to add supplemental policies to your overall insurance bundle.

We want to work with you!

Com-Co Insurance Agency Inc is proud to serve the Mount Prospect, IL area, and we would welcome the opportunity to work with you too! If you have any insurance needs or concerns, you can turn to us. Give us a call today, or feel free to stop by our office to find out more.

Homeowner insurance facts for property owners

Mount Prospect, IL homeowners can rely on Com-Co Insurance Agency Inc for their insurance needs. If you want to ensure that you have the protection you need, we can help! And, if you’re purchasing your first home, make sure you give us a call today!

Homeowner insurance facts

Many people are surprised to learn that there are no governmental requirements for home insurance. Most people have this type of coverage due to requirements set forth by their lenders. Because of this, many folks follow the guidelines set forth by their bank and don’t give it too much more thought.

While this approach is great for the bank, it doesn’t always ensure that the homeowner has the protection. If you want to make sure that your homeowner’s policy meets your needs, it’s time to sit down and take a closer look. One thing that may be missing is adequate coverage for your personal belongings.

The main purpose of home insurance is to protect your house, but it also needs to provide protection for your belongings. Don’t overlook this vital fact! As more and more people are working from home, they also have electronic equipment and devices for which they are responsible. Other items such as art and jewelry can also require additional coverage not included in your basic policy.

Now is a great time to take a closer look and make sure that your home, and your belongings, have all the protection they need!

Find out more today!

Com-Co Insurance Agency Inc is here for all residents in the Mount Prospect, IL area. If you have any questions relating to insurance, give us a call or stop by our office today!

Things home insurance doesn’t cover

As a homeowner, protecting your investment is a top priority. Your home is probably the biggest investment you will ever make. Most people believe that they are protected when they purchase home insurance. The truth is, you are protected but not from everything. Home policies have exclusions. At  Com-Co Insurance Agency Inc in Mount Prospect, IL, we want to make sure that you have all the coverage you want and need. 

Owner neglect

Your insurance carrier expects that you will maintain your home and property. That means replacing your roof when it gets old and leaks, getting insect or rodent treatment if your home is invaded by either. If you allow your home to become rundown and then expect your home insurance to pay for damages that result, you will be disappointed. 


Flooding is a biggie and as the world warms up, more and more flooding occurs every year. A traditional home insurance policy does not pay for damage that results from flooding unless it is from a burst pipe in your home or your roof is damaged by a tornado or hurricane. Surface flooding isn’t covered but you can get a policy from the National Flood Insurance Program. 

Earth Movement

Quite a few different things come under the heading of earth movement including earthquakes, landslides, mudslides, and sinkholes. These are mostly not covered and you need to read your home insurance policy carefully. You can, however, get coverage for all of these things separately. 

Certain Dog Breeds

Some breeds of dogs are considered such a risk that your home insurance won’t cover them. If you are adding a new pet to the family, check with your agent about the breed so you won’t get an unpleasant surprise. 

In Mount Prospect, IL, you can count on Com-Co Insurance Agency Inc to help you to get the right home insurance for you and your home. 

Frequently Asked Questions About Home Insurance

Home insurance is one of the most important policies you can buy. In case a disaster strikes, there is a lot that needs protection in your home, from your loved ones to your assets. Your home is a critical investment, and Com-Co Insurance Agency Inc. serving Mount Prospect, IL has policies to help protect it.

FAQs about Home Insurance

The following frequently asked questions will help you understand home insurance coverage best.

Do I need home insurance?

Yes, homes are prone to property damage, accidents, and other liability risks. If you are sued, the case’s outcome doesn’t matter; you still have to pay for legal defense. In an accident or an injury caused by your property, the costs to defend the lawsuit could get very expensive. The policy helps minimize these expenses, and if you lose your home or the property is damaged, mortgage lenders require you to have home insurance.

What are the covered perils in home insurance?

Home insurances don’t cover everything, just certain things commonly called covered perils. They include theft and vandalism, hail and windstorms, fire, smoke, lightning, civil unrest, and car damages. It’s vital to confirm which perils your policy covers, as some common disasters like floods are usually expected from most coverages.

How do I choose a home insurance policy?

There are different home insurance policies, depending on your home, location, budget, neighborhood, and construction materials. Since all these and more factors count when formulating a home insurance plan suitable for you, it’s important to get professional advice and help.

Who dictates how much my assets are worth?

When getting home insurance, state laws dictate how losses are figured. The same insurance company can have varying rates in different states depending on the methods used. Other factors determining premium costs and reimbursement claims are the house location, features, and claims history.

Com-Co Insurance Agency Inc has been providing homeowners of Mount Prospect, IL, with home insurance policies. Contact us to get answers to any of your home insurance questions or concerns.