HOW TO CHOOSE THE RIGHT INSURANCE

Whether you own a family home in the suburbs, a vacation home on the coast, or a brownstone or condominium in the city, you never want to see your home damaged. But losses happen to cherished homes all the time—from weather, accidents, fires, and more.

In fact, according to insurance claim data from Chubb, a premium personal lines insurer, the number one source of property damage to homes is water from non-weather-related events, such as leaking pipes, broken appliances like washers or dishwashers, and backed-up sewers and drains.

Regardless of how your home is damaged, the terms and conditions of your homeowner’s insurance policy can impact your plans for restoring the home to its pre-loss condition.

NOT ALL INSURANCE IS ALIKE.

While standard insurance may be suitable for some, successful individuals and families with high-value homes may need premium insurance that affords insureds higher limits and tailored coverage.

Older homes often have unique details and surfaces that are difficult to find and install or that may need to be upgraded to comply with modern building codes. Premium insurance may pay for those upgrades, specialized craftspeople, or materials, while many insurance policies will not.

Sometimes, it’s not even about the money, but about the time and flexibility that a premium insurance policy provides. For example, if your home is damaged and you cannot live there while it’s being repaired, a premium insurance policy may allow you to be set up in a rental home or hotel in the same neighborhood with no stated limit, so you can go about your daily life as normal.

THE FAR-REACHING EFFECTS OF INSURANCE.

Your home is more than the building itself. It’s full of memories that you’ve accumulated over time. So, if you experience a claim, you’ll want to lean on an insurance company that will help you get your life back and help you rebuild your home without hassles, headaches, or delay. That’s where a premium insurance policy comes in.

While it’s important to get your home repaired quickly and efficiently, the right insurance will reach beyond your immediate needs. For example, if your home isn’t repaired to its original specifications and you want to sell it later, the quality and scope of the repair work may become an issue with the buyer and could complicate the closing or sale price.

THE IMPORTANCE OF SELECTING THE RIGHT AGENT.

The right insurance agent can help ensure that you have the right coverage for your needs. Chubb is pleased to partner with independent insurance agents like Mary Mullen at NFP Private Client Group in Chicago. Our team is built around the client to provide best in class service and efficiency. All members of the team to act on behalf of the best interest of the client. The essence of what we do best is to create “the perfect transaction.” We also have a claims advocacy team on staff. This team of experts focuses on clear communication and swift resolution for each claim experience. We believe that claims are “moments of truth” that communicate the real value of a policy.

For more information, contact Mary Mullen with NFP Private Insurance Client Group at 312-493-2922, [email protected], or nfp.com/personal-insurance/private-client-group.