Homeowners Insurance—Because There’s No Place Like Home

Your home is more than a house. It’s where you go to find comfort, to create memories, to spend time with family. Making sure that your home is protected from loss is one of the most important things you can do. At Thomas Ward Insurance Group, it’s our goal to make sure you’ve got the right homeowners insurance coverage to do just that.

What Does Homeowners Insurance Do?

Homeowners insurance covers more than just the dwelling and multiple factors are involved in determining your rate. These include:

  • The dwelling itself: What is the value of your home? What condition is it in?
  • Location: Are you in a high crime area? Are you located close to a fire station?
  • Age: An older home may be built with inferior or aging materials that are at higher risk for replacement.
  • Materials: Wood houses are more flammable than homes built with brick, stone, or stucco.
  • Personal claim history: If you’ve made frequent homeowner’s claims in the past, this will increase your rate.
  • Pets: Certain breeds of dog present a higher risk of liability.
  • Coverages and deductibles: Personal property and special riders that cover identity theft or guaranteed replacement costs will also impact your rate.

Our professional, licensed team knows how to save you money on homeowner’s insurance, while giving you the peace of mind that protection brings. With multiple carriers at our disposal, we can find the right fit for you.

Home Away From Home

Second homes, vacation homes, rental property, and even high-asset homes need coverage too. No matter where your home away from home is located, we can offer you the coverage you need to ensure protection whether you visit it often, stay there infrequently, or rent it out.

Depending on how you use the home, you may want to consider the following:

  • Current homeowners policy: Determine if your current policy protecting your primary residence also covers your second home. If not, you’ll need an additional policy.
  • Rent loss insurance: This would cover the cost of lost rent should the home become uninhabitable due to a loss.
  • Umbrella insurance: This is additional coverage for liability issues should someone injure themselves on your property.
  • Coverage for natural disasters: Consider this for hurricane, tornado, or wind damage, along with flood insurance.

Laying Out the Welcome Mat, Airbnb Style

Airbnb can be a lucrative way to make some extra cash with either your primary residence or your second home. Airbnb itself provides minimal insurance coverage. What’s more, many insurance companies don’t want to take on the risk of these kinds of temporary business housing arrangements. Additionally, most homeowner’s policies don’t cover nonresident, nonrelative tenants. What to do?

We have access to one insurance company who covers all exposures for Airbnb hosts. If you want the security of knowing your home is protected in these circumstances, give us a call.

Put Your House in Order—Request a Free Quote Today

Designing a policy that covers your home and your possessions, while protecting you from financial disaster is our specialty. You don’t want to risk losing everything by not having enough or the right kind of coverage. Call 312.254.1500 today for more information or a quote and let us help you put your house in order. You may also email our Chicagoland agency.