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.

Making your home a safer place

Making your home a safer place means different things to different people. It can mean making your home itself safer inside and out, or it could mean making your home safer from dangers that originate outside your home. Either way, everyone wants their home to be safe. In Mount Prospect, IL Com-Co Insurance Agency Inc is one of the largest and oldest independent agencies in the Chicago north shore area. With 80 years of experience, we know how to make sure our clients get the best insurance products for their needs. 

Clear the clutter

Clutter is a trip and fall hazard especially for the very young and the elderly. Try not to place things on stairways and hallways which have frequent traffic. Falls in the home are the most often occurring home accident. Take a look at each room in your home and remove things that present a trip and fall danger. 

Change the batteries

Smoke and carbon monoxide detectors make your home a safer place to live. In order to protect you, they have to be operating. Many people opt to use the change of times that happens in the fall and spring to remind them to change the batteries to make sure your detectors will be there when you need them. 

Use your locks

You have locks on your windows and on your doors. Locks are designed to keep you safe, They can only do that if you use them. A thief or home invader will always prefer not to have to break in, don’t let your home be an easy target. 

Clean your chimney

If you use your fireplace, it is important that you get your chimney cleaned yearly. Fires in the home are a serious safety hazard. 

Give Com-Co Insurance Agency Inc in Mount Prospect, IL a call for all your home insurance needs. 

When Should I Tell My Home Insurance Agent About My New Pets?

It’s never a bad idea to tell your home insurance agent about your new pet moving into your Mount Prospect, IL home. Not all pets will affect your relationship with your home insurance provider, but some will, and it’s better to be safe than sorry.

That said, the main concern here is dogs. Your home insurer probably doesn’t care about your hamster or your parrot, or any caged animal, for that matter. Cats are a fairly minor concern. But a dog can easily rack up thousands of dollars in liability with a single bite.

You will actually want to consult with your insurance provider before getting a new dog. Some insurance companies won’t actually cover certain breeds, and it’s better if you know that beforehand rather than wind up having your insurance policy canceled because you adopted the wrong breed.

We can debate the fairness of these policies, of course. But the fact is that insurance companies have to make the call based on statistical probability, and the statistics say that some breeds are involved in more dog bite cases than others. Your pit bull might be a sweetheart, but that proves to not be the case often enough that your insurer might prefer not to take the risk. Insurance companies have to operate on the cold, hard data they have available to them, rather than on a case-by-case basis.

If you have any questions or if you are looking to get covered in Mount Prospect, IL, call Com-Co Insurance Agency Inc or visit the Com-Co Insurance Agency Inc contact page to see about getting a policy that covers your home and all the four-legged friends who live there.

What Mount Prospect IL home owners need to know about home insurance.

Mount Prospect, IL boosts friendly people and an abundance of living options offering a splendid environment to settle down. Whether you are a homeowner or choose to purchase a home in Mount Prospect, IL it’s vital to protect your home with a spectacular home insurance policy. Com-Co Insurance Agency Inc provides reliable and proper home insurance matching your needs and budget that cater to losses emanating from damage, water backup, theft, among other perils.

Mount Prospect, IL faces many challenges throughout the year, such as frozen pipes, snow, and ice dams, propagated by harsh winters. During the summer season, hail and thunderstorms can unexpectedly damage property. We at Com-Co Insurance Agency Inc comprehends the needs of Mount Prospect, IL homeowners and provides customized homeowners policy to fit your specific needs.

Statistics reveal that 15% of land in Illinois is subject to flooding. It’s imperative as a Mount Prospect, IL resident to know that home insurance does not cover damage arising from flooding. Visit us today at Com-Co Insurance Agency Inc offices situated at Mount Prospect, IL, and speak to our knowledgeable agents. They will help you to obtain an outstanding home insurance policy meeting your situation.

Types of necessary home insurance policies offered at Com-Co Insurance Agency Inc

Dwelling coverage: It protects the structure of your home, inclusive of floors, walls, ceilings, and in-built appliances. This policy is the basis of all homeowners insurance policies, which covers a variety of calamities, including vandalism, fire theft, and hail.

Contents coverage: It protects items, including clothing and furniture, in your home.

Personal liability: Covers property damage and bodily injury if a guest sustains an injury in your home or elsewhere.

Other structures insurance: This form of policy covers un-attached property to your home, such as an unattached garage, gazebo, or shed.

Congratulations on owning a home in Mount Prospect, IL. Contact us or visit our Com-Co Insurance Agency Inc offices for more information about home insurance.

What Does Home Insurance Actually Do?

If you’re a homeowner, you may be wondering why you should have to shell out for home insurance on top of everything else you’ve already invested in your property. After all, a good house shouldn’t have any issues, right? Not quite — the truth is that many of the issues plaguing today’s homeowners are highly unpredictable, and they vary greatly both severity and type. That’s why our team at Com-Co Insurance Agency Inc helps homeowners across the Mount Prospect, IL area determine what their particular home coverage needs are, then pair them up with a policy that fits!

There’s No Room for Worry with the Right Home Insurance Coverage

Home insurance is all about preventing you from having to pay out-of-pocket for unforeseen circumstances. Whether it’s a natural disaster or damage caused by a visitor to your home, there are a lot of different things that the right home policy can cover. In fact, for many people, home insurance can mean the difference between surviving a damaging event and being able to keep your home, or having to end up in severe debt and leave.

It’s worth noting that while home insurance is not legally required by the local jurisdiction in most areas, many mortgage agreements do make it mandatory. This is simply because your mortgage lender also wants the worry-relief that comes with a good home coverage policy.

How Do I Get Matched Up with a Policy?

Our experienced agents at Com-Co Insurance Agency Inc will sit down with you to go over the details of your home (property size and amount of rooms, ownership terms, people living there, any potential hazards or risks, etc.) Then, they will ask you what, if any, your particular concerns are about your property, as well as anything in specific you are looking for in a policy.

Getting Started

Looking for home insurance coverage in the Mount Prospect, IL area, or simply want to learn more about your options? Our insurance professionals are here to help. Shoot us a message or give us a call today!

Why should I have a home inventory?

Owning a home in Mount Prospect, IL comes with the usual worries. One thing you shouldn’t have to worry about is whether you have the right home insurance. Having the right insurance agent can make the whole process of home insurance buying much easier. Com-Co Insurance Agency Inc has been writing policies for more than 80 years, they value their customers and treat them the same way they would want to be treated. When you need to file a claim on your home insurance policy, you want to be confident it will all go well. Having an agent you trust and a home inventory can make it a much more pleasant process. 

After an event that has damaged or destroyed your home, you will need to provide your insurance carrier with a list of the items that you lost in the event. After something bad happens, you will find that you are not thinking as clearly as usual. Trying to picture what you had and actually writing it down may be beyond your capacity at that moment. Taking the time to make a home inventory before something bad happens can save you a lot of stress.  You can make a digital inventory or a written one supplemented with photos. You want to be able to verify what you had so attaching any receipts especially for larger ticket items is always a good idea. Then you should place the inventory in a safe place so it can be easily accessed if the need arises. 

Com-Co Insurance Agency Inc in Mount Prospect, IL doesn’t work for one insurance carrier, as independent agents, they are able to put their customer’s needs first. Why not give them a call to set up an appointment to discuss your home insurance needs. They will be happy to give you a free no-obligation quote. 

3 critical home insurance mistakes that new home owners make

Congratulations on becoming the latest homeowner in Mount Prospect, IL. While owning a home for the first time can be fulfilling, the whole aspect of finding the right home insurance coverage and having your home adequately covered can be overwhelming. As a result, many homeowners end up making costly mistakes that they end up paying more than they had budgeted for. Seeking guidance from an insurance expert at Com-Co Insurance Agency Inc can help you make wise and informed decisions and avoid these three mistakes.

First mistake: Going for cost and not value

After buying or building a home, it is almost obvious that you may not have much capital left. However, that doesn’t mean that you should pick the cheapest coverage around you. Like any other commodity in the market today, cheap is always expensive, and it gets serious when it comes to home insurance policies.

Second Mistake: Getting insufficient coverage

This is connected to the first mistake of going for cheaper policies. Cheap options are always risky as they lack essential coverages. That means that you may need to dig deeper into your pockets to replace or repair damages when your home is destroyed. If you are going to buy insurance that won’t cover the basics and help you save a substantial amount of money, then that option is not helpful. The rule of the thumb here is to treat insurance like the home itself.

Third mistake: Making assumptions without seeking clarification

New homeowners tend to make many insurance assumptions that can be dangerous. Assuming that your home insurance will cover flood damages, or your motorboat in the compound without speaking to your insurance provider can cost you more as most insurance companies do not cover floods in home insurance. Similarly, motorboats are not covered in home insurance, you may need to purchase a separate cover if you own one.

Home insurance coverage is equally important as the house itself. For queries, quotes, and new policy discussions, speak to our team at Com-Co Insurance Agency Inc in Mount Prospect, IL, and we will all help you protect your most valuable asset.

Should You Insure Your Vacation House?

Are you in the process of purchasing a vacation home, or do you have one that’s newly bought? If so, you may not know yet if you need special insurance to cover the property. The fact of the matter is that yes, you should have insurance coverage on the house. Read on to find out more, and also reach out to Com-Co Insurance Agency Inc if you’re in the Arlington Heights or Mount Prospect, IL area.

Gaps in Homeowners Coverage

It’s key that you get vacation home insurance since homeowner’s insurance alone will leave you with some big coverage gaps. The homes typically are only stayed in part of the year by the owner, part-time by rental guests, and they may go for long periods of time unoccupied. Your policy should cover all of these contingencies.

In some instances, your vacation insurance will have a rider for rental guests. Be sure to talk over this with your agent and read the fine print so you have a solid understanding of all that’s going to be covered.

Issues You May See with Vacation Home Insurance

With this type of insurance, it might turn out to be more expensive and less comprehensive. There is more of a risk of burglaries and issues arising that you won’t learn about for some time when you don’t actually reside there. Of course, the particulars will be based on your specific situation so this may not apply in your case.

Consider Bundling Insurance

If it’s a possibility, you should bundle your vacation property insurance with homeowner’s insurance, auto insurance, and other policies you have from the provider. This will save you a bit of money and aggravation in the long run.

For quality insurance and knowledgeable agents who will assist you with all your unique needs in the Mount Prospect, IL area, look no further than Com-Co Insurance Agency Inc. Contact us today to find out more and get started setting up your vacation home insurance policy.

 

5 Ways to Prepare for a Home Insurance Claim

There is a certain aspect of buying insurance that is putting money away in the hopes that you will never need it. But, the day has come and disaster has struck.

How do you go about filing a claim when your mind is everywhere at once?

First of all, some help from a trusted agent at Com-Co Insurance Agency Inc. of the Mount Prospect, IL area would be ideal. Here are 5 ways to prepare for a home insurance claim that will help you when the time comes.

Whether it is a fire or severe weather damage, there has been damage to your home and the first thing to do is to inspect the damage. It is important for the homeowner to not only take stock of what needs to be fixed or replaced, but the insurance company needs to know so that they can properly cover the costs within your specific insurance plan. 

Once an assessment has been made, begin to document any damage caused by what happened. Lists of items damaged or destroyed, pictures of what parts of your home looked like before the incident and after, and even a video that shows the damage can all be used to support your claim. Be as thorough as you can. This time can be stressful to navigate, but the details now will save you time and hassle later.

Lastly, figure out the cost of getting your home fixed, both short and long term. If there are any repairs that need to happen right away, alert your insurance company and see what is best. Be sure to include the costs of materials, repairs, and replacements.

When disaster strikes your home, Com-Co Insurance Agency Inc. is there for the people of Mount Prospect, IL to make sure that you have what you need. Have questions? Give us a call and we’ll answer your questions about keeping your home protected.

Do You Need To Inform Your Insurance Provider About Home Renovations?

A home renovation is an excellent way to transform your house to better fit your personal needs. It can also increase property value, allowing you to sell your home for more, should you ever decide to put it on the market. However, before you pursue the home renovation, you need to first consider whether it is necessary (or if you should) inform your insurance provider about the renovation (or restoration). If you live in or around Mount Prospect, IL, Com-Co Insurance Agency Inc can help you with this. 

Protect Your Renovation

In truth, you don’t need to tell your insurance provider about the home renovations. There is no law mandating you do so. Naturally, if you tell your insurance provider about the addition your insurance policy may go up. So, if you might assume it is better to just not say anything. However, that’s not necessarily the case. If you put $20,000 into a kitchen renovation and your home burns down, these renovations will not be covered. So that $20,000 will be completely out the window. It’s well worth to tell your insurance provider and pay the few extra dollars a month it might cost to cover this. 

It’s generally better to tell your insurance provider about any renovations you make that cost more than a few thousand dollars.

Protecting Your Property 

When you live around Mount Prospect IL it is always recommended to tell your insurance provider about home renovations. Due to the weather and possibility of damage from flooding, tornadoes, burst pipes, and other potential problems, you’ll want to have the added coverage for your new additions. So, if you have more questions regarding the renovations and what you should do, now is a great time to give the team at Com-Co Insurance Agency Inc a call.