As you plan to purchase the home of your dreams, there are a variety of aspects necessary for careful planning and consideration. One of the most important things you will have to shop for to perfect your home purchase is homeowners’ insurance. Compiled is a list of 8 “Must-Knows” regarding purchasing this very important insurance product:

1. You MUST purchase a homeowners’ insurance policy. Accidents are inevitable, therefore, you need protection against damaging liability claims.
2. Once you decide which insurance provider you will purchase your homeowners’ insurance policy with, you must decide what coverage you need and how much. The more coverage options you opt for the less you’ll be spending out of pocket in the event of a tragic disaster.
3. Your next responsibility is to compare deductibles. The higher the deductible you choose the less you will pay each month. However, in the event of an accident, you must be prepared to pay that elevated deductible, because coverage does not kick in until you pay your deductible.
4. Next, you must choose whether you want replacement cost of actual cash value when it comes to replacing your personal property after an accident.
5. You MUST shop around before you make this big decision. You should get quotes from at least three different insurance providers.
6. Once you choose an agent to work with, ask them about discounts you may be eligible for. You may receive discounts for installing a security system.
7. You will want to look into your specific need and desire for additional insurance policies, including earthquake and flood insurance policies.
8. As a homeowner, it is your responsibility to review your homeowners’ insurance policy each year and to make sure that you still have sufficient coverage. This is especially important if you have recently undergone any major life changes.

Contact Steve Wilk Insurance Agency for all of your homeowners’ insurance needs. We are always available to guide you through the shopping process of the perfect homeowners’ insurance policy for your Lombard, Illinois needs.