You know that your home insurance covers your home’s structure and belongings. However, you may find some of the things it covers surprising. We offer homeowner’s insurance coverage at NCIB Group Inc. in Chicago, IL. 

Spoiled Food

When a power outage occurs, all the food in your fridge is ruined. Your homeowner’s policy can help you pay to replace your groceries. 

Falling Objects 

Falling objects are considered open perils. If a meteor hits your home, your policy will cover the repair or replacement cost. Airplane crashes, satellite debris, and other falling objects are also covered. 

Volcanic Eruptions 

If you live in the vicinity of a volcano, this is important. Volcanic eruptions can cause damage many miles away from the volcano itself. Your homeowner’s policy will cover the cost if your home is damaged due to a volcanic eruption. 

Home Away From Home 

If your home is unlivable because of a covered event, like a fire, your homeowners’ policy will cover the cost of accommodations until you can live in your home again. Living costs, including food, are also covered during this time. 

Personal Liability 

If someone in your home causes damage to someone else’s property or accidentally injures them, this is also covered by your homeowner’s policy. 

For example, a game of football results in a broken leg. The policy will cover the cost of medical bills and other expenses. 

New Door Locks 

You probably know that your home is protected from theft and vandalism. However, if a robbery does occur, your policy may cover replacement door locks in addition to covering your property losses. 

Homeowner’s Insurance at NCIB Group Inc.

If you need a homeowner’s policy in Chicago IL, contact us at NCIB Group Inc. Our experienced agents will help you choose the best policy for your needs. 

Homeowners insurance has the ability to create peace of mind for many. It’s the type of insurance that covers a variety of areas for the homeowner, including the interior and exterior of the home, the foundation, any structures on the property, the homeowner’s personal belongings, and more. The NCIB Group Inc. is committed to helping Chicago, IL homeowners understand the benefits of insurance and what’s covered. 

What is Homeowners insurance?

In short, homeowners insurance is designed to pay for the repair or replacement of your home, your personal belongings, property, and more. Personal liability coverage is also included in most homeowners’ insurance policies. The coverage consists of the exterior and interior of your home and your home’s foundation. Homeowners receive coverage in the form of repair, replacement, and actual cash value coverage. 

Will homeowners insurance pay for the repair of my flood-damaged car?

No. Typically, homeowner insurance doesn’t cover flood damage. However, if a pipe bursts in your home, your homeowner’s insurance likely covers the repair, replacement, and cleanup. However, damage to your home and personal belongings due to flooding is usually not covered by a homeowners’ policy. Your car insurance may pay for repairing or replacing your flood-damaged car if you carry comprehensive auto insurance. However, liability auto insurance and other forms of auto insurance aren’t designed to cover flood-damaged vehicles. Also, if your car is totaled due to flood damage, specific types of car insurance may not pay for its repair or replacement. However, understand that comprehensive auto insurance is the only form of auto insurance that covers flood damage. Call us if you have more questions about homeowners insurance and what it covers. We’d be happy to help you explore your options.

Buying a house can be stressful, overwhelming, and confusing. There are so many things that you need to do to buy a house. One of those things on the list of things to do when buying a house might include getting home insurance. Many people are confused about what home insurance includes and don’t include. Below is a list of some of the most frequently asked questions about home insurance and answers to those questions.

Frequently asked questions about home insurance.

Is home insurance required in the state of Illinois?

Home insurance is not required by law in most states, including Illinois. However, most lenders require home insurance if you plan to get a loan for your house.

What is not included in a home insurance policy?

Home insurance covers many things, but some things are not covered. Home insurance doesn’t cover maintenance, pests, mold, earthquakes, floods, and acts of war.

What types of home insurance coverage are available?

Most insurance companies offer a variety of similar basic coverage across the board. The basic types of home insurance available include:

• Dwelling coverage
• Other structures
• Liability
• Additional living expenses
• Personal property or personal belongings coverage

If you live in high-risk places, you can get add-ons to your policy, such as flood and natural disaster insurance, but you must purchase them separately.

How does home insurance work?

You research what home insurance policies are available in your area. Once you choose a company you like, you purchase your insurance policy. If something happens like a fire, hail damage, or someone gets injured on your property, you file a claim with your insurance company.

Contact NCIB Group Inc.

If you want home insurance in Chicago, IL, contact us at NCIB Group Inc.

Having a home that feels safe is vital to your security. Safety means many things. It means safety from external danger and dangers within your home. At NCIB Group Inc. in Chicago, IL, we have more than 30 years of experience providing our customers with the right insurance coverage at the best possible price. 

Making your home a safer place begins inside your home. Many people are injured every year in trip and fall accidents. Making your home as clutter-free as possible is essential, especially on stairs. Keep them clear at all times and make sure that handrails are in place and in good repair. Provide adequate lighting in hallways, especially at night. If you must use extension cords, ensure they are placed where they can’t be tripped over. 

Check the batteries in your smoke detectors every six months to ensure they are operational. Some people find that changing them on the day that the time changes makes it easier to remember. Also, check your carbon monoxide detectors at the same time. 

If you use your fireplace, it is vital to get your chimney cleaned every year to avoid chimney fires. Getting your furnace cleaned every year allows your furnace to work at its most efficient and avoid malfunctions that can result in a fire. 

Poison control in your house makes it a safer place for adults, children, and pets. Placing cleaning supplies, weed and pest killers, antifreeze, and all medication where children and pets can not reach them and, if possible, under lock and key. If you have a firearm in your home, it should be unloaded and stored in a locked gun safe. 

Call NCIB Group Inc. in Chicago, IL to get a no-obligation quote for home insurance.

You could purchase an HO-3 policy that covers your home for the typical perils and liability. You can also customize your homeowner’s policy to cover items like expensive jewelry, swimming pool, detached workshop, hobby equipment, etc. At NCIB Group Inc., proudly serving the great city of Chicago, IL, we recommend customizing your policy.

Policy customization only takes a few minutes and adds little to the cost of your insurance, but in the advent of an incident for which you must file a claim, it can make all the difference.

Your Jewelry

Few people think of it, but if you’re married, you probably own at least one piece of expensive, fine jewelry. The bride probably wears her engagement ring every day with her wedding band, but few people think about including it under special jewelry coverage on their home policy. The median cost for an engagement ring is $6,000, but most home policies provide about $1,500 jewelry coverage. If you don’t add to the coverage, you’ll have to cover the cost of a replacement ring on your own.

Your Hobby Equipment

Whether you enjoy cycling and own a couple of road bikes or love photography and developing film at your home, you probably own about $5,000 of hobbyist equipment. Let’s say you love books. Well, avid reader, if you own 500 books, replacing them with used ones for $5 each would run you $2,500. You could quickly edge up to that $5,000 mark if you own more than that.

Your Swimming Pool

If you own a swimming pool, you immediately increase your need for liability insurance. Your home policy contains a typical amount of liability, but putting in a swimming pool increases your need for liability insurance. The same is true of trampolines.

Contact NCIB Group Inc. in Chicago, IL today to learn more about customizing your home policy. It will only take a few minutes to insure your precious belongings fully.

The purpose of home insurance is to protect you as a homeowner and your property. However, it is expensive, so you may start thinking of canceling it in order to save money. Is it a good idea? Definitely not. Being a homeowner without proper home insurance is associated with certain risks, and here is a list of some of them:

What Are the Risks Of Not Carrying Home Insurance?

Here is a list of reasons why it is not a good idea to own a home without proper home insurance:

• The costs of rebuilding and repairs can be too high. If something happens to your home, you, or personal belongings, your home insurance will cover the expenses, including the cost to repair or rebuild your home. However, if you do not have a home insurance policy, you have to cover all the expenses yourself. 
• There might be a liability claim against you. Most home insurance policies include liability coverage that protects homeowners from unexpected lawsuits. However, if you carry no insurance and someone gets injured at your property, you will have to pay for their medical bills out of pocket. 
• Your belongings are not covered. Home insurance covers not only your home and you as a homeowner but also your personal belongings, including clothes, furniture, electronics, etc. If they get damaged or stolen, and you do not have home insurance, their loss will not be covered. 

 NCIB Group Inc. serving clients in Chicago, IL – We Will Find a Policy To Fit Your Lifestyle

if you are a homeowner from Chicago, IL or other surrounding areas, home insurance is a must. If you are thinking of getting a proper policy to protect your property and yourself, NCIB Group Inc. is ready to help. We are a group of insurance professionals, who have been serving the Illinois community for many years. Do not hesitate to visit our website or give us a call if you need more information. 

You have worked hard enough to buy or build your home. Now with the hard part behind you, it’s time to think about securing your investment. Once you become a homeowner, home insurance becomes an investment you have to prioritize. If not sure where to start, you can talk to NCIB Group Inc., located in Chicago, IL.  

Chicago homeowners are faced with various risks. If you are safe from theft, fire, and vandalism, you might not be so lucky with natural disasters like hails, storms, and lightning. Instead of rolling the dice and hope that nothing terrible happens, it’s wise to purchase home insurance to protect your home. And when you go shopping for one, ensure that it covers the below areas.

The structure of your home

The dwelling coverage part of your homeowner’s insurance protects the building itself. Any damage to the roof, walls, floor, and foundation is covered up to your policy’s limit. However, typical home insurance doesn’t cover floods and earthquakes. To that end, you should double-check with your agent for separate policies.

Personal belongings

If your assets like furniture, electronics, and clothing suffer damage or loss from theft, vandalism, or fire, your home insurance compensates you for the loss up to your policy limit. To note, high-value items like jewelry, cash, and firearms may carry limited coverage from your home insurance. It’s wise to check with your agent to ensure you are sufficiently covered.

Liability

Home insurance doesn’t only cover the structure and your stuff. You can add liability coverage to protect you and your family from property damage and bodily injury caused to others. Lawsuits can become costly. Without liability insurance, your assets, including your home, can be at stake if you fail to pay the legal costs.

Additional living expenses

What would you do if your home is damaged and become uninhabitable? You probably would seek shelter in a hotel. And because hotels aren’t free, you incur accommodation and meal expenses. Thankfully, the additional living coverage pays for expenses incurred when staying away from your home.

Need more information on home insurance? Please contact NCIB Group Inc., located in Chicago, IL. Our staff will be more than happy to give you the answers that you need.

Based in Chicago, IL, NCIB Group Inc. serves the community by helping people find insurance coverage. For over 30 years, we have helped our clients find policies to take care of what matters most. We seek to establish long-lasting relationships.

Benefits of Home Insurance

Your home is one of your most important possessions. That’s why it’s important that you protect your investment by exploring the benefits of home insurance. Home insurance covers your property if it suffers damages and protects your personal items if they are stolen or vandalized. Here is a closer look at some key benefits of home insurance.

Protects Your Home During Natural Disasters

The weather in Chicago, IL can be unpredictable, especially during the winter. Home insurance covers your property if it is damaged due to severe weather or an accidental fire.

Covers Your Assets

All of your assets inside the home are covered if they are stolen or vandalized. It’s a good idea to take inventory of your personal items. That can assist you if something happens in the future.

Liability Coverage

Liability coverage is an important part of your home insurance policy. You will be protected if someone gets injured while visiting your property. You are also covered if you accidentally cause damage to someone else’s property. Liability coverage is an asset if you plan to have guests over to your home regularly or if you have pets.

Special Coverage

You can amend your policy to provide special coverage. You can add coverage to protect your luxury items, such as antiques, if they are stolen. You can also add coverage to protect structures such as your garage or shed if they are damaged.

Emergency Coverage

You will be covered if your home suffers serious damages, and you have to seek additional lodging elsewhere while your home is repaired.

NCIB Group Inc. Will Help You Protect Your Investment

For more information on home insurance, contact our office today!