Financial Stakes for Chicagoland is where you get information for making key financial and health decisions for yourself or for your business. Information on Medicare Advantage Plans, Medicare Supplement Plans, Major Medical Plans and Final Expense Plans are available as well as Business, Non-Profit, and Property and Casualty Insurance. If you need to Buy or Refinance Real Estate, this is also the place to come. Call (773)614-3201 for a free consultation or e-mail me at email@example.com.
Quick Guide to Buying the Best Homeowners Policy Part 1
When shopping for home insurance, remember
this: Insure your house for the cost to replace it (meaning reconstruction costs), not its real estate
"market value", and don't factor in the value of your land. Also know that a home insurance policy
covers much more than damage to your house.
There are additionalcoverages within a home insurance policy with limits often set as a
percentage of the dwelling's coverage amount. (Check your own policy for
• Your belongings. (Often 50 percent of the of
the dwelling amount.)
• Certain structures outside your house,
such as your garage or fence. (Often 10 percent of the dwelling amount.)
• Loss of use, meaning additional living
expenses you incur if you can't live at home due to damage. This could include hotel bills, restaurant
meals and laundry costs. (Often 20 percent of the dwelling amount.)
• Liability, for cases where you are sued
for damages or injuries to someone else.
• Medical bills for people injured on your
property or by your pet.
Other items may be covered under your home
insurance, with specific limits for each, so check your policy or ask your
• Downed trees.
• Replacement of lawn, trees and shrubs.
• Debris removal.
• Power outages, including food spoilage.
• Grave markers.
• Unauthorized charges to your credit
You may also need special add-ons for
valuables such as jewelry, your computer equipment, antiques and other pricey possessions, where their value
exceeds the coverage limit of your policy.
Home insurance does not cover earthquakes
or floods - you'll need to buy separate policies for those if you want coverage
for those disasters. And in some areas of the country you need to buy windstorm
coverageseparately. Now go to the Part 2 Guide.
institutions usually require mortgage customers to purchase home insurance.
Don't rely on the coverage levels mandated by your bank or mortgage company.
Those levels are designed to protect the
house itself, but not necessarily your possessions. That's why it's
important to check with your agent or
insurance company to make sure you have adequate coverage. Have questions about your Homeowners' policy, call (773) 614-3201