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.