Will homeowners insurance pay for the repair of my flood damaged car?

Homeowners insurance has the ability to create peace of mind for many. It’s the type of insurance that covers a variety of areas for the homeowner, including the interior and exterior of the home, the foundation, any structures on the property, the homeowner’s personal belongings, and more. The NCIB Group Inc. is committed to helping Chicago, IL homeowners understand the benefits of insurance and what’s covered. 

What is Homeowners insurance?

In short, homeowners insurance is designed to pay for the repair or replacement of your home, your personal belongings, property, and more. Personal liability coverage is also included in most homeowners’ insurance policies. The coverage consists of the exterior and interior of your home and your home’s foundation. Homeowners receive coverage in the form of repair, replacement, and actual cash value coverage. 

Will homeowners insurance pay for the repair of my flood-damaged car?

No. Typically, homeowner insurance doesn’t cover flood damage. However, if a pipe bursts in your home, your homeowner’s insurance likely covers the repair, replacement, and cleanup. However, damage to your home and personal belongings due to flooding is usually not covered by a homeowners’ policy. Your car insurance may pay for repairing or replacing your flood-damaged car if you carry comprehensive auto insurance. However, liability auto insurance and other forms of auto insurance aren’t designed to cover flood-damaged vehicles. Also, if your car is totaled due to flood damage, specific types of car insurance may not pay for its repair or replacement. However, understand that comprehensive auto insurance is the only form of auto insurance that covers flood damage. Call us if you have more questions about homeowners insurance and what it covers. We’d be happy to help you explore your options.

Frequently Asked Questions about Home Insurance

Buying a house can be stressful, overwhelming, and confusing. There are so many things that you need to do to buy a house. One of those things on the list of things to do when buying a house might include getting home insurance. Many people are confused about what home insurance includes and don’t include. Below is a list of some of the most frequently asked questions about home insurance and answers to those questions.

Frequently asked questions about home insurance.

Is home insurance required in the state of Illinois?

Home insurance is not required by law in most states, including Illinois. However, most lenders require home insurance if you plan to get a loan for your house.

What is not included in a home insurance policy?

Home insurance covers many things, but some things are not covered. Home insurance doesn’t cover maintenance, pests, mold, earthquakes, floods, and acts of war.

What types of home insurance coverage are available?

Most insurance companies offer a variety of similar basic coverage across the board. The basic types of home insurance available include:

  • Dwelling coverage
  • Other structures
  • Liability
  • Additional living expenses
  • Personal property or personal belongings coverage

If you live in high-risk places, you can get add-ons to your policy, such as flood and natural disaster insurance, but you must purchase them separately.

How does home insurance work?

You research what home insurance policies are available in your area. Once you choose a company you like, you purchase your insurance policy. If something happens like a fire, hail damage, or someone gets injured on your property, you file a claim with your insurance company.

Contact NCIB Group Inc.

If you want home insurance in Chicago, IL, contact us at NCIB Group Inc.

Tips for making your home a safer place

Having a home that feels safe is vital to your security. Safety means many things. It means safety from external danger and dangers within your home. At NCIB Group Inc. in Chicago, IL, we have more than 30 years of experience providing our customers with the right insurance coverage at the best possible price. 

Making your home a safer place begins inside your home. Many people are injured every year in trip and fall accidents. Making your home as clutter-free as possible is essential, especially on stairs. Keep them clear at all times and make sure that handrails are in place and in good repair. Provide adequate lighting in hallways, especially at night. If you must use extension cords, ensure they are placed where they can’t be tripped over. 

Check the batteries in your smoke detectors every six months to ensure they are operational. Some people find that changing them on the day that the time changes makes it easier to remember. Also, check your carbon monoxide detectors at the same time. 

If you use your fireplace, it is vital to get your chimney cleaned every year to avoid chimney fires. Getting your furnace cleaned every year allows your furnace to work at its most efficient and avoid malfunctions that can result in a fire. 

Poison control in your house makes it a safer place for adults, children, and pets. Placing cleaning supplies, weed and pest killers, antifreeze, and all medication where children and pets can not reach them and, if possible, under lock and key. If you have a firearm in your home, it should be unloaded and stored in a locked gun safe. 

Call NCIB Group Inc. in Chicago, IL to get a no-obligation quote for home insurance.

Home Insurance Add-ons and Riders

You could purchase an HO-3 policy that covers your home for the typical perils and liability. You can also customize your homeowner’s policy to cover items like expensive jewelry, swimming pool, detached workshop, hobby equipment, etc. At NCIB Group Inc., proudly serving the great city of Chicago, IL, we recommend customizing your policy.

Policy customization only takes a few minutes and adds little to the cost of your insurance, but in the advent of an incident for which you must file a claim, it can make all the difference.

Your Jewelry

Few people think of it, but if you’re married, you probably own at least one piece of expensive, fine jewelry. The bride probably wears her engagement ring every day with her wedding band, but few people think about including it under special jewelry coverage on their home policy. The median cost for an engagement ring is $6,000, but most home policies provide about $1,500 jewelry coverage. If you don’t add to the coverage, you’ll have to cover the cost of a replacement ring on your own.

Your Hobby Equipment

Whether you enjoy cycling and own a couple of road bikes or love photography and developing film at your home, you probably own about $5,000 of hobbyist equipment. Let’s say you love books. Well, avid reader, if you own 500 books, replacing them with used ones for $5 each would run you $2,500. You could quickly edge up to that $5,000 mark if you own more than that.

Your Swimming Pool

If you own a swimming pool, you immediately increase your need for liability insurance. Your home policy contains a typical amount of liability, but putting in a swimming pool increases your need for liability insurance. The same is true of trampolines.

Contact NCIB Group Inc. in Chicago, IL today to learn more about customizing your home policy. It will only take a few minutes to insure your precious belongings fully.

Risks Of Not Having Home Insurance

The purpose of home insurance is to protect you as a homeowner and your property. However, it is expensive, so you may start thinking of canceling it in order to save money. Is it a good idea? Definitely not. Being a homeowner without proper home insurance is associated with certain risks, and here is a list of some of them:

What Are the Risks Of Not Carrying Home Insurance?

Here is a list of reasons why it is not a good idea to own a home without proper home insurance:

  • The costs of rebuilding and repairs can be too high. If something happens to your home, you, or personal belongings, your home insurance will cover the expenses, including the cost to repair or rebuild your home. However, if you do not have a home insurance policy, you have to cover all the expenses yourself. 
  • There might be a liability claim against you. Most home insurance policies include liability coverage that protects homeowners from unexpected lawsuits. However, if you carry no insurance and someone gets injured at your property, you will have to pay for their medical bills out of pocket. 
  • Your belongings are not covered. Home insurance covers not only your home and you as a homeowner but also your personal belongings, including clothes, furniture, electronics, etc. If they get damaged or stolen, and you do not have home insurance, their loss will not be covered. 

 NCIB Group Inc. serving clients in Chicago, IL – We Will Find a Policy To Fit Your Lifestyle

if you are a homeowner from Chicago, IL or other surrounding areas, home insurance is a must. If you are thinking of getting a proper policy to protect your property and yourself, NCIB Group Inc. is ready to help. We are a group of insurance professionals, who have been serving the Illinois community for many years. Do not hesitate to visit our website or give us a call if you need more information. 

4 Areas Covered By Home Insurance

You have worked hard enough to buy or build your home. Now with the hard part behind you, it’s time to think about securing your investment. Once you become a homeowner, home insurance becomes an investment you have to prioritize. If not sure where to start, you can talk to NCIB Group Inc., located in Chicago, IL.  

Chicago homeowners are faced with various risks. If you are safe from theft, fire, and vandalism, you might not be so lucky with natural disasters like hails, storms, and lightning. Instead of rolling the dice and hope that nothing terrible happens, it’s wise to purchase home insurance to protect your home. And when you go shopping for one, ensure that it covers the below areas.

The structure of your home

The dwelling coverage part of your homeowner’s insurance protects the building itself. Any damage to the roof, walls, floor, and foundation is covered up to your policy’s limit. However, typical home insurance doesn’t cover floods and earthquakes. To that end, you should double-check with your agent for separate policies.

Personal belongings

If your assets like furniture, electronics, and clothing suffer damage or loss from theft, vandalism, or fire, your home insurance compensates you for the loss up to your policy limit. To note, high-value items like jewelry, cash, and firearms may carry limited coverage from your home insurance. It’s wise to check with your agent to ensure you are sufficiently covered.


Home insurance doesn’t only cover the structure and your stuff. You can add liability coverage to protect you and your family from property damage and bodily injury caused to others. Lawsuits can become costly. Without liability insurance, your assets, including your home, can be at stake if you fail to pay the legal costs.

Additional living expenses

What would you do if your home is damaged and become uninhabitable? You probably would seek shelter in a hotel. And because hotels aren’t free, you incur accommodation and meal expenses. Thankfully, the additional living coverage pays for expenses incurred when staying away from your home.

Need more information on home insurance? Please contact NCIB Group Inc., located in Chicago, IL. Our staff will be more than happy to give you the answers that you need.

A Look At 5 Important Benefits Of Home Insurance

Based in Chicago, IL, NCIB Group Inc. serves the community by helping people find insurance coverage. For over 30 years, we have helped our clients find policies to take care of what matters most. We seek to establish long-lasting relationships.

Benefits of Home Insurance

Your home is one of your most important possessions. That’s why it’s important that you protect your investment by exploring the benefits of home insurance. Home insurance covers your property if it suffers damages and protects your personal items if they are stolen or vandalized. Here is a closer look at some key benefits of home insurance.

Protects Your Home During Natural Disasters

The weather in Chicago, IL can be unpredictable, especially during the winter. Home insurance covers your property if it is damaged due to severe weather or an accidental fire.

Covers Your Assets

All of your assets inside the home are covered if they are stolen or vandalized. It’s a good idea to take inventory of your personal items. That can assist you if something happens in the future.

Liability Coverage

Liability coverage is an important part of your home insurance policy. You will be protected if someone gets injured while visiting your property. You are also covered if you accidentally cause damage to someone else’s property. Liability coverage is an asset if you plan to have guests over to your home regularly or if you have pets.

Special Coverage

You can amend your policy to provide special coverage. You can add coverage to protect your luxury items, such as antiques, if they are stolen. You can also add coverage to protect structures such as your garage or shed if they are damaged.

Emergency Coverage

You will be covered if your home suffers serious damages, and you have to seek additional lodging elsewhere while your home is repaired.

NCIB Group Inc. Will Help You Protect Your Investment

For more information on home insurance, contact our office today!  

What is the benefit of getting a Chicago home insurance policy?

When you move to the Chicago, IL area, you will benefit significantly from an excellent local economy and access to plenty of recreational activities. Those that are in this area should consider purchasing their own home. If you do buy a property here, you need to make sure that you get a full home insurance policy. A Chicago home insurance policy can provide you with several significant benefits. 

Protection for Your Home 

The main reason that you should get a home insurance policy is that it will give you protection for your property. Your home is a vital asset that you should protect as well as you can. However, even diligent property owners could still experience damage from a fire or bad weather. Fortunately, you can get a home insurance policy that will provide you with the protection you need to repair or replace your home.

Gives Valued Liability Protection

Another reason that getting a home insurance policy is a good idea is that it will give you valued liability protection. Anyone that gets home insurance will receive a certain level of liability coverage. This will come in handy if someone is injured while in your home, and you are deemed responsible for damaged. During a situation that comes with a lot of damages, this could prove to be very valuable. 

Getting home insurance for your Chicago, IL property is very beneficial. When you are looking for a property here and need insurance, you should call the team at NCIB Group Inc. The team of insurance professionals at NCIB Group Inc. can help you to better assess your insurance needs to make sure that you get into a quality policy that offers you the right type and amount of coverage. 

Is it better to invest better to invest in a home mortgage or pay rent?

Being a homeowner is often a dream of every individual. For Some, this will be a project they will pay their entire lifetime. In Chicago, IL, you have two ways to achieve this, either through renting or buying. Homes are costly, and most individuals take up mortgages to finance this project.

Why You Should Take A Mortgage Rather Than Pay Rent

  • Only a small percentage of the total cost is paid upfront, which makes it easier to manage. It is, however, essential to ensure that you have the right insurance coverage for your home during the repayment period. A home insurance policy will protect you against financial losses that you may incur as a result of damage to the property. NCIB Group Inc. agents will advise you on what you need to be covered as you pay for your mortgage.
  • Investments are flexible. If you choose to take a mortgage, you can make investments in other areas. It is, however, essential to analyze your investments with NCIB Group Inc. agents who will be able to evaluate whether the investments made can be covered by your home insurance policy. A home insurance policy covers various personal assets, such as electronics.
  • Improved credit score

In Chicago, IL, it is essential for individuals taking a home mortgage to realize that any damage or loss of property during the mortgage period is their responsibility. Having an appropriate policy is crucial to avoid paying for an asset that is already damaged.

Advantages of Home Insurance When You Have A Mortgage

  • Your property is covered against damage from fire, storms, theft, and other hazards.
  • Home insurance will protect you against liability from legal suits. Where other individuals are injured within your property, you are likely to face legal lawsuits which the insurance company will cover.

Please call or visit our customer-centric NCIB Group Inc. agents to discuss your insurance needs for your new home.


Why No One Talks About Home Insurance Anymore

There’s a common misconception about home insurance. Everyone knows they need it, but not everyone knows why. Knowing why you need it will allow you to make some very necessary customizations. NCIB Group Inc. in Chicago, IL is here to help you with the details.

Not All Policies are the Same

Many homeowners feel as though they can buy a policy and be protected. It’s not that simple. The policy you buy may not be what you actually need. Not all policies are the same. They can vary based on:

  • The insurance company
  • Where you live
  • The type of home you have
  • What’s inside

The last thing you want is a generic policy. You need to think about how often you entertain for liability purposes. You need to look at the value of what’s inside your home. By considering these details, you can make sure that coverage is added where it matters the most, even if it means adding riders to the policy.

Coverage Levels Matter

Although people aren’t talking about home insurance anymore, it doesn’t mean that it’s not important. You don’t want to get a generic policy that isn’t going to provide you with the personalization that you need. Coverage levels over your home and liability matter. Insufficient coverage levels can lead to insurance claims being denied or not fully funded – and that means you may have to pay considerably more out-of-pocket than what you might be able to afford.

There’s no reason why you can’t be the one talking about home insurance. It might not be the coolest topic, but it can help you when a problem arises.

Call NCIB Group Inc. or visit our office in Chicago, IL to discuss your home insurance needs today. We’re here to answer your questions and get you quotes to help you with the decision-making process.