Home Insurance in Chicago>Question Details

Jack Bolous, Home Buyer in Chicago, IL

I am buying a condo as my first home purchase and trying to determine the best condo insurance to go with.

Asked by Jack Bolous, Chicago, IL Thu Jan 21, 2010

I have gotten several quotes that range from $277 to $581 a year. Can someone recommend the best coverage amount to go with. I'm not sure if I should be using a $50,000 building coverage or I should go higher or lower. The unit is fairly standard. Hardwood floors, basic cabinets, standard counter tops and standard bathrooms. Thanks in advance.

Help the community by answering this question:


That's a wide price range!

Make sure they're all quoting on the same thing--a condo (the association, as Gerard notes, will have its own policy), not a single-family home or a rental unit. That may account for the price variation.

As Gerard says, also, find a reputable agent. Also, preferably, go with a company you've heard of and recognize. Stay away from Internet-only type companies. (They might be good . . . but they might not be.)

Hope that helps.
0 votes Thank Flag Link Thu Jan 21, 2010
Don Tepper, Real Estate Pro in Burke, VA
The condominium will have insurance in place to cover the physical structure of the building.

Any policy you purchase will cover the interior of the unit.

Find a reputable local insurance agent to advice you - and if in doubt regarding the coverage - ask them to walk the unit with you.

A good agent will do this!

Good Luck!
0 votes Thank Flag Link Thu Jan 21, 2010
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