Best Renter's Insurance Companies in Bolingbrook

FAQs

• How will your claims history affect your renters’ insurance rates in Bolingbrook?

  If you have had renters’ insurance for a long time and never had claims, your rates will most likely remain low. Insurance companies in Bolingbrook may even offer you a claim-free discount. Other ways to get low rates and good deals on your policy include maintaining good credit, paying in full annually instead of monthly, and securing your home with devices like burglar alarms.

• How much of your income will go to rent in Bolingbrook if you decide to move there?

  A pretty big chunk of your income will go to rent. To be exact, tenants in Bolingbrook devote an average of 39.8% of their income to rent every year. This percentage ranks as the second highest in Illinois. While it remains an option, being a homeowner is also unaffordable, with housing possibly comprising 22% of your yearly income.

• Is a rented home in Bolingbrook at risk of being damaged by natural hazards?

  It depends on the type of hazard—some have a higher chance of occurring than others. Records show that Bolingbrook faces a very high risk of tornadoes. On average, three tornadoes hit the village every year. Fortunately, Bolingbrook residents have to worry less about earthquakes and hurricanes, which have been very rare in the area since 1930.

• Do you have to account for natural disasters in your Bolingbrook renters’ insurance policy?

  While optional for some types of hazards, it is a good idea to obtain coverage for damage caused by floods, storms, and snowfall, which you might encounter in Bolingbrook. If coverage for specific hazards is not offered by your insurer, you can either purchase add-ons or buy from outside providers. Some insurers may cover snow damage but not flooding, but coverage for the latter is available through the National Flood Insurance Program.

• When is water damage covered by your Bolingbrook landlord’s insurance instead of your renters’ insurance policy?

  Whether landlord or renters’ insurance applies to water damage in your Bolingbrook apartment depends on the cause. Your landlord’s policy may cover the cost of repair if there was a sudden leak related to structural problems in the plumbing or roofing system. However, if the leak was caused or made worse by your negligence, you may have to cover the expenses out-of-pocket. If the leak damaged any of your belongings, then you can use renters’ insurance coverage.