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Home Insurance in Illinois

Lombard, IL is a wonderful place to live and work, making it a terrific place to buy and own a home. Not only are residents just a stone's throw away from bustling Chicago, but they also enjoy plenty of access to charming suburban parks, cafes, event options, and more.

Your Lombard-area home is also arguably the most important purchase you'll ever make in your life, so it’s only natural that you'd be thinking about homeowner's insurance. We at Insurance Xchange are fully equipped to help you find the right policy.

Is Homeowners Insurance Required in Illinois?

Illinois law doesn't require homeowners to carry insurance on their properties. However, most lenders will likely require it before approving you for a mortgage or other funding, and with good reason.

Ultimately, a home is much too important an investment not to insure. Among other things, homeowner's insurance helps safeguard you against:

• Damage related to disasters like fire or storms
• Theft or vandalism
• Legal or financial liability should someone sustain an injury on your property.

Different Types of Illinois Homeowner's Insurance

Although no two homeowner’s policies will be the same, the average policy will include the following:

• Dwelling coverage: Protects your home's actual structure, including the roof, foundation, walls, and most attached features like porches
• Additional structures coverage: Covers structures like fences or outdoor sheds that could be considered part of your property but aren't directly attached to the main house
• Personal liability coverage: Protects you should you be found responsible for another person’s injuries sustained on your property
• Personal property coverage: Covers personal items contained within your home, including electronics, clothing, furniture, and some additional valuables like jewelry
• Loss of use coverage: Helps cover costs incurred when you're unable to stay in your home because of renovations, repairs, and similar events

Naturally, no two Illinois homeowners will have the exact needs to consider, so it's important to thoroughly discuss your options with a qualified agent to settle on what's right for you. Contact us at Insurance Xchange in Lombard, IL, today, and let us know how we can help.