When you buy a home, it’s easy to get caught up in the excitement and race through all the required paperwork so that you can start building the future you’ve always pictured. However, when it comes to buying your home insurance in Chicago, it pays to slow down and consider a few key factors. These three things should be carefully evaluated before you choose your policy.
Lower Premium or Higher Deductible?
One of the first questions you’ll have to ask yourself as a homeowner is do you want your home insurance to cost you more on a regular basis, but kick in faster in an emergency – or would you rather pay less on your insurance bill, and rely on your savings to cover a bit more in an emergency before the insurance kicks in? There are pros and cons to each situation, and ultimately it will boil down to your lifestyle and how you prefer to use your money.
How Much Coverage Do You Want?
The one thing that will raise the cost of your home insurance in Chicago more than anything else is how much coverage you pay for. If you want your home totally covered from rafters to the foundation, in every situation imaginable, you’ll be paying more. Consider what types of natural disasters you are most likely to face in Chicago, as well as what types of repairs you could afford to replace yourself to keep your insurance costs lower.
Finally, keep in mind that many homeowner insurance agencies have additional policies that they can – and probably will – offer. Things like insuring your valuable goods, bundling your auto insurance, or even getting a home liability insurance policy to cover accidents in your pool, for example, may be things you’ll want to consider. Be sure to consider what you wouldn’t be able to replace or repair on your own if a disaster were to occur, and how an insurance policy might help improve your peace of mind in these cases.
Overall, home insurance in Chicago is a decision that shouldn’t be made lightly – but it also doesn’t have to be difficult to choose. At Great Northern Insurance Agency, we strive to make this decision easy and straightforward. Contact us at 773-838-3900 to learn more about how we can help you keep your new home safe.