Before You Renew, Check Your Chicago Home Insurance Policy

September 06, 2013

considerations for Chicago home insuranceThis year when you receive your annual Chicago home insurance renewal policy, before just signing on the dotted line, you may want to consider if you have had any life changes that could impact your policy. You may not realize it, but there are many situations that occur on a daily basis that warrant a visit to your insurance agent to review and possibly update your home insurance policy. Some of these might include buying an expensive piece of jewelry, starting a home-based business, taking in a new renter or moving in with a significant other.

Here are a few other scenarios that may prompt a visit to your agent:

  • A new toy for your child: As innocuous as toys sounds, you may be surprised by the necessity of proper insurance in certain scenarios. For example, you bring home a new electric toy car for your son and it fits him and a friend. If your son’s friend happens to get injured while riding in the neighborhood, you could end up with a hefty medical bill. In this case, you might be able to add an endorsement that would cover such a scenario.
  • Bringing home a new pup: Though they may be man’s best friend, you need to consider what your new dog is capable of damaging. Some insurance policies have exclusions for all dogs or particular breeds for any liability issues that may arise. Check to see if this is the case for your policy, and make any necessary adjustments.
  • Home remodeling: Don’t let your excitement for your new home improvements blind you of the fact that adding square footage almost certainly demands that you increase the replacement cost coverage of your home. Before you begin construction, check to make sure your home will still be covered, as most companies will not allow you to change your policy until the construction is complete.

Having proper coverage is crucial for any Chicago real estate resident that wishes to have peace of mind, so be sure to always consult your insurance agent if you have questions about your coverage.

Guest post written by The BDX.

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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