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.

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.

 

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.

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. 

Home insurance is never a cut and dry product and can vary depending upon each individual’s needs and current state of affairs. This is also true if the owner’s living arrangements and marital status change over the course of time. Many American’s today have adopted a different lifestyle and family living arrangement than in decades past. Knowing the facts about insurance and divorce can help make a difficult situation easier to navigate and understand. 

Coverage During Divorce

During a marriage, if both partners are named as an insured party on the policy, either can make changes in most cases, however, once a divorce is filed or there is a legal separation, it is difficult to make changes. Most judges will prohibit any policy changes during divorce proceedings or during a separation unless there is an official agreement between both parties and is allowed by the divorce judge. Once the divorce is final, the insurance company may make the requested changes upon receiving appropriate documentation of ownership. 

Working With An Experienced Agency

It’s much easier to navigate changes in your living and marital arrangements when you work with an experienced insurance agency that had skilled agents with in-depth knowledge of this common situation. They can answer any questions, and help you make policy changes as well as instruct you regarding the necessary paperwork to get your affairs handled appropriately. If you live in or near the Mount Prospect, IL are you should consult with Com-Co Insurance Agency Inc and let them help you get the outcome you need for peace of mind during a difficult time. 

Get the information you need to prevent issues during a divorce or other similar living situation that affects your home policy. Residents of Mount Prospect, IL know they can get high-quality products and expert help through all of life’s ups and downs at Com-Co Insurance Agency Inc. Call or stop by today for more details and to schedule a meeting with an agent. 

Standard home insurance is designed to protect both your home and personal belongings. Personal goods include clothing, furniture, appliances, electronics, artwork, jewelry, sporting goods, kids toys, and more. At Com-Co Insurance Agency Inc., we can help you select a policy that adequately protects your assets without paying for unnecessary coverage. If you own pricey goods, it’s even more critical to get the right coverage to protect your investments.

Understanding Home Insurance

As a homeowner, it’s crucial you understand how home insurance works to ensure you’re getting the level of protection you need. Your choice of insurance coverage will depend on the value of your home in Arlington Heights or Mount Prospect, IL and its contents. The more expensive your property, the higher the level of protection you’ll need.

When it comes to dwelling protection, insurers suggest homeowners get enough coverage to rebuild their home in the event it’s destroyed in a catastrophe. In like manner, you should get adequate coverage to replace personal goods should they be stolen or ruined. If you own pricey goods, you should have them evaluated to determine their value so you’ll have a better idea of the coverage you’ll need. You should also make a detailed inventory of your goods to include photos of costly items to have proof of ownership when making a claim.

Standard Homeowner’s Policy

Standard home insurance comes with limits on coverage for personal belongings. These limits may not be enough to cover costly goods like jewelry, antiques, or original artwork. You can, however, protect these items by adding a floater or endorsement to your policy. With this additional coverage, you can have peace of mind that your valuables are protected from theft or unforeseen disasters.

To learn more about home insurance options for protecting your valuable assets, contact Com-Co Insurance Agency Inc. in Mount Prospect, IL.

Far more frequently in the Midwest, like Mount Prospect IL, land intersects with mineral rights. The issue of mining and cross-mining rights can be a bit complicated, especially when the activity causes related geological activity affecting property on the surface. Many folks have long been under the assumption that the land their home sits on includes the rights to the land below the house. This is not true. The law separates real estate property rights from mineral rights and even airspace. And that can lead to situations where a neighbor mines for minerals right underneath another’s home.

Usually, the folks above ground don’t notice, but today’s mining is including far more aggressive approaches to reach minerals once thought unobtainable. Fracking, for example, can mine horizontally, the side effects of the water pressure can be realized both below and above ground, especially when that mining water mixes with natural water tables and even plumbing to a home.

In some cases, the cross-mining can trigger damage, either immediately or after the fact. At first, the homeowner might think it’s simply the home or a structural issue, but once a claim is filed, the insurance provider is very likely to investigate it fully and determine the damage may have been caused by mining. Depending on the terms, a standard homeowner’s policy may not provide coverage for mining-related damage.

If you’re a property owner in Mount Prospect, IL and suddenly finding yourself dealing with a neighbor who has decided to impact your life with mining, you may want to have a sit down session with experts like those at Com-Co Insurance Agency Inc to understand how your homeowner’s insurance will actually work in case of damage. Being forewarned with knowledge is a far better thing than to find out the hard way that coverage isn’t available as assumed. Give Com-Co Insurance Agency Inc a call today and know that your home is covered.

Fire safety is something that everyone should be concerned about. Homeowners and renters in Mount Prospect, IL can find out answers to important safety questions by calling the agents at Com-Co Insurance Agency Inc. They can provide tips on eliminating fire hazards from your home as well as things you can do to reduce your risk of a fire. 

Fire Safety should Be Your First Concern

Fire safety should always be your first concern. Working with your family to create a fire escape plan is just one way of stressing the importance of knowing what to do in case a fire breaks out in your home. Take proper precautions when it comes to grilling, like setting the grill on a fireproof surface. It’s also important to make sure the grill is sitting far enough away from your home that sparks won’t land on any flammable material. This is just one area where a fire extinguisher is a must.

Where Should Fire Extinguishers Be Located?

One of the best ways to reduce your risk of a fire is to have fire extinguishers placed in areas of your home where a fire may break out. Fire extinguishers should always be placed where fires are most likely to occur. In addition to your grilling area, they should also be placed in the kitchen, garage, workshop, and near your furnace.

The agents of Com-Co Insurance Agency Inc are always available for Mount Prospect, IL residents who have questions about their fire extinguishers or other fire safety concerns. Call and schedule an appointment with us today so that you have all of the information you need on how to protect your home from a fire or other types of emergencies.