Being a homeowner is often a dream of every individual. For Some, this will be a project they will pay their entire lifetime. In Chicago, IL, you have two ways to achieve this, either through renting or buying. Homes are costly, and most individuals take up mortgages to finance this project.

Why You Should Take A Mortgage Rather Than Pay Rent

• Only a small percentage of the total cost is paid upfront, which makes it easier to manage. It is, however, essential to ensure that you have the right insurance coverage for your home during the repayment period. A home insurance policy will protect you against financial losses that you may incur as a result of damage to the property. NCIB Group Inc. agents will advise you on what you need to be covered as you pay for your mortgage.
• Investments are flexible. If you choose to take a mortgage, you can make investments in other areas. It is, however, essential to analyze your investments with NCIB Group Inc. agents who will be able to evaluate whether the investments made can be covered by your home insurance policy. A home insurance policy covers various personal assets, such as electronics.
• Improved credit score

In Chicago, IL, it is essential for individuals taking a home mortgage to realize that any damage or loss of property during the mortgage period is their responsibility. Having an appropriate policy is crucial to avoid paying for an asset that is already damaged.

Advantages of Home Insurance When You Have A Mortgage

• Your property is covered against damage from fire, storms, theft, and other hazards.
• Home insurance will protect you against liability from legal suits. Where other individuals are injured within your property, you are likely to face legal lawsuits which the insurance company will cover.

Please call or visit our customer-centric NCIB Group Inc. agents to discuss your insurance needs for your new home.

 

There’s a common misconception about home insurance. Everyone knows they need it, but not everyone knows why. Knowing why you need it will allow you to make some very necessary customizations. NCIB Group Inc. in Chicago, IL is here to help you with the details.

Not All Policies are the Same

Many homeowners feel as though they can buy a policy and be protected. It’s not that simple. The policy you buy may not be what you actually need. Not all policies are the same. They can vary based on:

• The insurance company
• Where you live
• The type of home you have
• What’s inside

The last thing you want is a generic policy. You need to think about how often you entertain for liability purposes. You need to look at the value of what’s inside your home. By considering these details, you can make sure that coverage is added where it matters the most, even if it means adding riders to the policy.

Coverage Levels Matter

Although people aren’t talking about home insurance anymore, it doesn’t mean that it’s not important. You don’t want to get a generic policy that isn’t going to provide you with the personalization that you need. Coverage levels over your home and liability matter. Insufficient coverage levels can lead to insurance claims being denied or not fully funded – and that means you may have to pay considerably more out-of-pocket than what you might be able to afford.

There’s no reason why you can’t be the one talking about home insurance. It might not be the coolest topic, but it can help you when a problem arises.

Call NCIB Group Inc. or visit our office in Chicago, IL to discuss your home insurance needs today. We’re here to answer your questions and get you quotes to help you with the decision-making process.