The Most Popular Home Insurance Questions
Here are some answers to popular home insurance questions.
Q. I need to file a claim. What will happen during the claims process?
A. Contact the insurance company as soon as possible and let them know you need to file a claim. It is a good idea to do this within 48 hours of the damage. Then an adjuster will help you gain more information needed for the claim and then let you know what is covered and what is not. Also, they will let you know the amount of the damage and send you to a place to get the damage fixed.
Q. After a single claim, will my home insurance rates go up?
A. When you file a claim, it can make insurance rates increase a lot. However, the first claim should not cause a huge increase in the amount of insurance you will pay. It's a good idea to try to avoid turning in other claims as the more you turn in, the more likely your insurance rates are likely to increase. So, you want to be certain to avoid a lot of claims.
Q. Do I have to own a home to have insurance for all of my personal property and assets?
A. Absolutely no. It is actually a very good idea to get renters insurance in Illinois so you can feel safe and secure about your personal property.
Q. Will I suffer a penalty if my home is not insured when the incident occurs?
A. If you have a “coinsurance clause” with your home insurance then it is very likely you may have to pay a penalty. Be sure that you take the time each year to look at your policy and review it to make certain you have the coverage you need.