Standard homeowners insurance policies cover structures and belongings against certain types of damage, including vandalism, theft, fire, and storm damage. However, most policies also include extra coverages to protect homeowners from other types of damage. Homeowners should understand their extra coverage options, some of which may need to be purchased separately.
While each homeowner’s coverage needs differ between situations, every Illinois homeowner should consult an experienced insurance firm to learn more about extra coverage options available in their situation. Continue reading for our guide to extra coverages in homeowners insurance policies in Illinois to find the ideal policy for your needs.
Appliance Coverage
Appliance coverage, also known as equipment breakdown coverage, is extra personal property coverage that helps homeowners pay for damaged electronics and appliances. When an appliance is damaged from a covered event, such as an electrical failure resulting from a storm, home insurance policies may offer as much as $100,000 in extra liability coverage.
Standard property coverage only covers specific damage resulting from fires or vandalism. Coverage for electrical and mechanical failures must be purchased as extra appliance coverage, which is a significant consideration in today’s technology-filled homes.
Swimming Pool Injury Coverage
Basic homeowners insurance policies will not usually cover pool-related injuries, such as falls or accidents related to pool structures like diving boards. Pools also represent a high liability risk for homeowners since guests can injure themselves and potentially sue for medical expenses. Extra coverage is required to protect homeowners from these situations.
Notably, basic home insurance policies usually cover structural damage to the pool, regardless of whether the pool is in-ground, above-ground, or portable, but not personal injury protection for pool-related incidents. Ask your insurance provider about which types of damage are covered under your policy, including whether your basic dwelling coverage includes pool coverage.
Service Line Coverage
Service Line Coverage provides extra coverage for buried utility lines, including:
- Water lines
- Sewage lines
- Electrical lines
- Gas lines
These lines can sustain damage due to mechanical failures, electricity, freezing, and normal wear and tear. Extra coverage for service line damage can prevent homeowners from being liable when heavy vehicles, weather, or a mechanical breakdown damages or destroys their utilities.
Water Damage
Standard homeowners insurance policies cover certain types of water damage, such as damage resulting from pipes that burst. However, basic policies usually exclude external water damage, including storm floods, wear and tear, and poorly maintained pipes.
Extra water damage, or water backup coverage, offers homeowners a liability limit for more specific causes of water damage, including poor maintenance. Notably, foundational water damage caused by leakage is usually provided under other coverage.
Extended Reconstruction Coverage
Extended reconstruction coverage applies to costs related to rebuilding a home when these costs exceed the liability limit on the dwelling coverage. This extra coverage allows homeowners to cover the exact cost of rebuilding their homes in the event of a catastrophe, including tornadoes and hurricanes.
Rather than increasing the monthly dwelling coverage limit, many homeowners purchase extended reconstruction coverage. Since this coverage only applies when the dwelling coverage limit is exceeded, homeowners can take advantage of the extra coverage without raising their monthly premiums.
Scheduled Property Coverage
Scheduled property coverage covers personal property when the damage exceeds the liability limit on the standard policy. For example, a valuable art collection with a value that exceeds the policy’s liability limit would only be covered up to that limit if it was damaged or stolen.
With scheduled personal property coverage, homeowners can protect valuable items, including art collections, jewelry, instruments, electronics, and more. This extra coverage allows homeowners to claim the replacement cost of their lost or damaged valuables rather than relying on liability limits and deductibles, ensuring they are reimbursed based on the item’s condition and worth.
Mine Subsidence Coverage
In Illinois and other Midwestern states, extra coverage for property damage caused by mine collapses can be a significant investment. When a man-made mine collapses, it can cause fires, utility damage, foundational damage, extra structures damage, and more.
This extra coverage is required to file insurance claims for this type of damage. Speak with your insurance provider about mine subsidence coverage if you live in an area with man-made mines.
Contact Pro Insurance Group for More Information on Extra Homeowners Insurance Coverage
At Pro Insurance Group, our experienced team helps homeowners understand their insurance coverage needs, including any extra coverages that make sense in their situation. Extra coverages protect properties, belongings, and more in the event of covered damages, helping homeowners financially recover from unexpected events.
Contact our team today to learn how we customize insurance policies for individual homeowner’s needs, including extra coverages that may not always be included in standard policies.