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Chicago Home Insurance

Chicago Home Insurance

Chicago Home Insurance offers you a complete insurance deal for your Chicago, Illinois home insurance needs. Chicago home insurance has over the years been quite a lot more expensive than other cities. This has to do with the notorious brutal fire of Chicago in the 19'th century, which burned down most of the city. This has historically affected insurance premium for Chicago Home Insurance, even if this seems irrational.

Chicago home insurance is a full insurance package that take care of most your insurance needs as a private person. It is a complete home insurance package that covers your property, your house, your personal belongings and personal belongings. Chicago home insurance is the most important insurance you will likely buy. Chicago home insurance covers 4 main areas:
Homeowner Dwelling And Personal Property, Liability, Medical Payments and Additional Home Living Expenses.

Home Dwelling and Personal Property Coverage

Home dwelling and personal property covers all your property and items insurance needs. Home dwelling is for your house, property and all structures on your premises. This includes your house, add on structures and storage facilities. The structures that are not part of the main house are usually covered for around 10% of your total insurance coverage.

Personal property coverage is for your personal items and belongings. It includes your furniture, appliances, valuables and other items at your property. The only exception is your car which needs separate auto insurance. Personal property is usually valued at 50% of your total insurance amount.

Personal Liability Coverage

Personal liability covers you financially if an accident or an injury happens to someone while they are on your property or their property gets damaged. By having personal liability insurance included in your Chicago home insurance, your insurance will pay for eventual legal fees and compensation to the third party. All of your family is covered, including your pets (and the family dog).
Personal liability carries no persona deductible and has a usual set limit of up to 100.000$ although that can be raised.

Medical Payments Coverage

If someone has an injury and needs to stay in hospital or just receive medical care, then medical payments coverage will take care of that cost. This is regardless of your involvement in the injury.

Additional Living Expenses

If your house suffers such damage that you can not live in it any more, then you will need to relocate to a motel or apartment. Additional living expenses pays for up to 12 months of relocation. The total payout is set to 20% of the insurance sum.

Additional Coverage:

If you don't feel like all of your needs are covered under these 4 areas, then it is possible to purchase additional insurance. Below are some common types of add on's:

Debris Removal:

Debris removal covers just what it says. If for some reason you find your property covered with debris, from storms or floods, then this insurance will pay to remove it.

Trees, Plants and Shrubs:

If you have valuable green's or threes on your property, you may want to insure them. With this policy, they are insured up to $500 a piece.

Credit Card Coverage and Identity Theft:

There is sadly rampant cases of credit card fraud and identity theft in Chicago. With this additional insurance, you will be protected up to $500, which is usually the daily limit on a credit card.


Mold is not usually a part of home insurance coverage, but you can get it as an extra.

Types of Home Insurance Packages in Chicago,  Illinois.

There are three types of Chicago Home Insurance available:

HO1, HO2 and HO3.

HO1 is the most basic home insurance. It covers only a few perils. HO2 and HO3 are considered extended insurance types and cover many more perils and . HO3 ,the most common, home insurance type covers almost all risks except natural disasters.

HO1(Basic Coverage) provides coverage of the following perils:

Lightning and Fire

Damages to Cars and Aircrafts from Earthquakes

Mischief and Vandalism



Riots and Civil Unrest


Windstorm, Hail and Hurricanes

Accidental Water Damage

HO2 (Extensive Coverage) includes the same perils as HO1, but also includes:

Building and Home collapses

Freezing Damages

Water and Steam Damages Incurred From Plumbing and Water Heating

HO3 (All Risk Coverage) is called all risk coverage, because it includes almost all perils, except a few which are:

Property Damage from Earthquakes

Vermin Infection (mice, rats, insects)


Freezing Damages While Your House Was Unoccupied (Except if you turned of water or turned on heating)

Wind or Hail Damage To Shrubs and Trees

Vacated Home Expenses (Expenses incurred while you were away from your home for over 60 days in a row)

Maintenance (Wear and Tear)

Water Seepage Damage.

How Do You Choose Chicago Home Insurance Limits?

It is very important to choose the right total insurance limit. This is the limit from which all sub insurances will be covered. Therefore it is good to prepare yourself before you sign home insurance:

  •    Do an inventory and property list. Include all original receipts and add them together.
  •    If you are comfortable carrying some personal risk in the form of a higher deductible, then you will most likely be able to afford a higher insurance limit.
  •    Get a serious valuation of things you are unsure of regarding value (antiques, silverware etc.).

What Determines The Price Of Chicago Home Insurance

The largest part of your insurance premium is determined by the overall coverage type (HO1, HO2, HO3). The rest depends on your deductible and some other factors:

House Construction and Property Age

Newer houses are cheaper to insure because they are usually able to withstand bad weather and storms better than old houses.

Credit Rating

If you have a history of bad credit, you may have to pay a premium to get insurance.


Deductible is where you can save some money if you choose to. Deductible is the amount for which you have no coverage. Say your bike is worth $500 and your deductible is $250. If your bike gets stolen, then you will only be able to claim $250. Having a lower deductible means higher premium payments, while a higher deductible means lower premiums.

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