Homeowners Insurance in Oak Lawn, IL
Homeowners insurance can help shield your finances from losses caused by unexpected damage and liabilities. At Hanway Insurance, we can help you find the right coverage for your budget and situation.
What Does It Cover?
While policy specifics may depend on the insurer and your unique circumstances, a standard homeowners insurance policy often covers the following:
- Dwelling coverage can cover the repair costs of your home and attached structures after a covered event.
- Other structures coverage can cover damage to detached structures like fences, sheds and pools.
- Personal liability coverage can protect your finances if you’re liable for causing property damage or bodily harm to another person.
- Personal property coverage can cover the replacement of your furniture, appliances, electronics and clothes, subject to policy limits.
- Additional living expenses coverage can cover your accommodation, meals and other necessities if a covered risk forces you to temporarily relocate.
Talk to your broker if you need additional coverage for flood, umbrella or high-value items.
Is It Required?
Homeowners insurance isn’t legally required in Illinois. However, if you have a mortgage on your home, your lender typically requires proof of a policy. Even if it’s not required, it’s still recommended that you purchase adequate insurance to cover repairs, liabilities or loss of use.
How Much Does a Policy Cost?
Various factors can influence the cost of a homeowners insurance policy, including the following:
- Location
- Property size and value
- Exposure to risk factors (e.g., fire, flood, crime, etc.)
- Previous claims
- Policy limits
- Deductible
- Credit-based insurance score
You can reduce your premiums by having a higher deductible or bundling your homeowners policy with auto or motorcycle insurance.
Where Can I Purchase a Policy?
Contact Hanway Insurance to request a quote or explore your homeowners insurance options.