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St. Charles Homeowner Insurance

Homeowner Insurance

While homeowners insurance is not required by law in St. Charles, many mortgage lenders require you to maintain this coverage for the life of your home loan. Even if you don't need it to appease your lender, it is still a good idea to have at least some coverage in the event of an emergency. Otherwise, you could risk losing your home that you have worked so hard to earn.

Here's what you need to know about homeowners insurance and why it is so important. 

Liability Coverage 

This is an essential component of homeowners insurance coverage that nearly all mortgage lenders require. This coverage protects you in the event that someone is injured while on your St. Charles property, whether an invited guest or not. Your liability coverage can pay for the person's medical bills and protect you if they decide to sue. 

Property Damage Coverage 

This is another key aspect typically required by mortgage lenders and covers the structure of the house itself. At minimum, you should have enough coverage to pay to rebuild your entire house from scratch.

In the event of a disaster, you don't want to be left without a home and with no money to rebuild it. Property damage coverage can be used for smaller repairs as well, like damage from burglars or a storm. 

You also have the option of adding on Loss of Use coverage, though lenders typically do not require this extra component. This coverage can help to pay for lodging at a hotel, temporary apartment or other short-term rental while your home is being repaired if it is unlivable in its current state. 

Personal Property Coverage 

This coverage protects the contents of your St. Charles home, like your furniture, clothing, electronics and other common household items. You can set the limit on this coverage based on the overall value of your belongings.

Be aware, though, that this type of homeowners insurance coverage typically does not apply to high-value items like jewelry, fine art, antiques and the like. You'll need to add extra coverage for these items individually. 

Learn More about Homeowners Insurance in St. Charles 

Lang Insurance is your source for homeowners insurance in St. Charles and throughout the surrounding communities. We invite you to get in touch with us any time to get answers to all your questions and request a free online quote. We'll tailor a policy to meet your unique needs.