Four Coverage Options for Homeowners in Urbana Illinois

Hardly anything is more exciting than buying your first home, until it comes time to pick the right policy for your home insurance in Urbana Illinois. New homeowners in Urbana face many choices when it comes insurance. Here are four of the most common policies.

  1. Personal Liability Insurance – Personal liability coverage protects the total value of all the assets you own. Amounts vary depending on the net worth of your assets.
  2. Personal Property Insurance – This type of coverage is perfect for homeowners who want to protect the full replacement value of various household items without depreciation. Elements covered typically include everything from furniture to appliances and more. This does not usually include extremely valuable or inherited items like jewelry and fine art, which are typically insured separately.
  3. Replacement Cost Insurance – If your home is ever damaged, replacement cost insurance can protect your property. This policy ensures that only original or extremely similar materials will be used to rebuild or repair your home.
  4. Special Coverage – Special coverage extends to extra features of your home that are not included in basic policies. This can include outside structures or elements like pools. It also encompasses household items that are considered high risk, like expensive jewelry or valuable collectibles.

These are just four of the most prevalent options for those seeking home insurance in Urbana Illinois.