Blog - Illinois Insurance Hotline

Information covered in the Illinois Insurance Hotline blog is intended to provide general information and guidance, and should not be considered legal advice.


Homeowners Insurance Dwelling Coverage Limit - Part 2

Aug 29, 2018, 10:02 AM

Experts suggest over half the homes in the United States are underinsured by an average of twenty percent. Insurance companies offer a variety of add-ons, and some provide dwelling limit protections. An endorsement changes the terms of the policy. This may add to the cost of the policy or require the home to be insured for its full replacement cost.

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Check your home's dwelling coverage limit - Part 1

Aug 22, 2018, 10:33 AM

Homeowners buy property insurance to share the financial burden of rebuilding or repairing damage from sudden and unexpected loss with an insurance company. Not having the right amount of coverage on the dwelling could result in a claim settlement far below the cost to repair or rebuild. Consider the following tips to get the right dwelling coverage limit.

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Is it necessary to insure my house for more than it's worth?

Aug 15, 2018, 11:27 AM

Homeowners insurance is based on replacement cost, which is not the same as market value. Market value is a real estate term based on the sale price of homes in the area. Replacement cost, on the other hand, is an insurance term based on the cost of rebuilding the entire structure in the same location using similar materials. Homeowners insurance requires you to insure your home according to its replacement cost.

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Drive S.A.F.E. this summer! Part 2

Aug 1, 2018, 9:58 AM

Accidents cannot always be avoided. Most people turn to an insurance company for assistance when a crash occurs. Take time to confirm appropriate auto insurance is in place now, before something happens. Review basic coverages and learn about the claim process too. Click on the link to learn more.

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