Purchasing Insurance Needs to be an Educated Decision

5/16/2022 (Permalink)

There Are Many Things To Consider When Purchasing Insurance For Your Home

When purchasing homeowners insurance, there are many factors to consider, especially what would happen in the case that you experience storm damage. If you live in an area that is prone to severe storms, it is even more important to understand the kind of insurance policy you have, the limitations of it, what it covers and the kinds of storms for which you might not be covered.

Overview of Storm Damage Insurance
 
A lot of homeowners have experienced a bad hailstorm already or seen the storm damage which hail can cause to automobiles, homes, businesses and other property. When hail hits, it does the most damage to the outside of your property or home. Types of damage that are commonly caused by hail include siding damage, roof damage, window damage, shingle damage and automobile damage.

Thunderstorms

Most homeowner standard policies, known as HO-3 policies, will cover your home and its contents. Usually you are covered against theft, storm damage, some major disasters like hurricanes, tornadoes and hail, plus pet damage.

Floods and earthquakes are not usually covered under a majority of stand insurance policies and need a separate policy. Home insurance policies, remember, don’t cover normal wear and tear or poor maintenance, so you should ensure that your home is properly maintained at all times.
 
Shopping for Homeowners Insurance

When you are in the market for a homeowner’s policy, it is a good idea to look at several different companies first. Different companies for insurance will offer a significant range of coverage levels, prices, and discounts. Don’t just shop the ones you know best, but look for the policy which works for your situation the best. If you find a policy which looks good but is offered by a company you don’t know, it is helpful to look into their background. There are three websites you can check for the financial strength of an insurance company: Fitch Ratings, Ambest and Moody’s Investor Services.

When choosing a policy, begin by researching the area you live in. you will want to have a firm knowledge of the history of storm damage in your neighborhood related to:

• Tornadoes
• Hailstorms
• Flooding
• Wind storms
• Natural disasters
• Earthquakes

Ensure that the insurance policy you select will cover adequately the natural disasters and storms in your area. Look out for insurance companies that are known for denying claims unfairly. Each year, the American Justice Association publishes a list of the ten worst companies. If your insurance company is found on this list and your claim for insurance has been denied, ensure you connect with a contract that is reputable, such as SERVPRO, who has the experience to be able to fight for what you deserve.

Insurance for storm damage in Southside Chicago deserves to be researched thoroughly before you decide on which insurance company to go with. If you do experience storm damage of any kind, make sure and contact our professional technicians at SERVPRO of Evergreen Park/South Chicago by dialing (773) 337-3900 right away so we can assess your damages and make sure that you get the compensation you deserve.