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Homeowners Insurance in Bourbonnais, IL

Home insurance is essential protection for every homeowner. This vital coverage may protect you if you have a loss or damage to your home or personal property from an insured incident. First Community Insurance and Annuity Center in Bourbonnais, Illinois, helps residents with their much-needed home protection—and we can also help you.

What Is Homeowners Insurance?

Homeowners insurance is a type of insurance policy that helps protect your home, your property and your liability. If you have damage or a loss to your home or personal property after an insured incident, home insurance may help with your financial recovery. Typically, home insurance provides liability coverage if you or a family member causes bodily injury or property damage to someone or a guest is injured on your property. If you must vacate your home because of an insured event, your policy may include additional living expenses, including hotel or temporary housing stays and meals. This combination of coverages is why homeowners insurance is called a package policy.

What Does Home Insurance Cover?

Your home insurance policy will detail the specific protections of your policy. The typical home insurance policy includes the following protections:

  • Personal belongings—This portion of your policy may help cover the repair or replacement costs for clothing, furniture, sports equipment and other personal items stolen or damaged by a covered event. Many people may choose to add a personal property endorsement or floater for expensive or high-value items so they may be insured for their appraised value.
  • Property structure—This portion of your policy may help cover the costs associated with rebuilding or repairing your home if it’s damaged or ruined by an insured incident. This coverage may apply to detached structures on your property (e.g., garages or gazebos). We can discuss what your policy includes.
  • Liability protection—This portion of your policy may help pay for bodily injury and property damage caused by you or a listed party on your policy. Additionally, policy protection may help cover the costs associated with a third party’s injury on your property, including court costs and awards up to your policy limit.
  • Additional living expenses—This portion of your policy may help pay your living costs if you need to live elsewhere because of an insured event. Meals, hotel bills and other living expenses may also be covered up to your policy limit.

We can discuss if any additional coverage, such as a personal property endorsement or a separate insurance policy, may be beneficial. Your needs will depend on your home and its location, as well as your personal circumstances.

How Does Homeowners Insurance Work?

The policy process differs by the insurer. However, for most insurers, a home insurance policy is a contractual agreement you make with your insurer. For your regular premium payment, your insurer will provide you with the coverage detailed in your insurance policy. If you should have a covered loss during the policy period, you may choose to file a claim against your policy. We can explain our claims process so that you know how ours works.

Is Homeowners Insurance Required?

Homeowners insurance isn’t typically required, except by most home lenders, who require proof of insurance from a buyer before approving their home loan. If you decline homeowners insurance because you don’t have a loan, you may put yourself at risk if you have a significant financial loss. The costs may be your responsibility versus having an insurance policy that may help with expenses. Home insurance may give you a financial safeguard.

Protection for Illinois Homeowners

First Community Insurance and Annuity Center in Bourbonnais, Illinois, is locally owned and operated. Our agents can help you with home coverage to protect yourself against the risks you may face as a homeowner and to meet any lender requirements. Call 866-937-5533 to speak with us about getting a no-obligation home insurance quote.

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