Best Homeowners Insurance Agencies in O'Fallon

Frequently Asked Questions

• Introduction

  Homeowners' insurance is a type of property insurance used by private property owners to protect their home and property from a range of risks and liabilities. It is also called home insurance.
  

  
  

  All homeowners' insurance policies cover the primary home on a property, meaning that most damage from weather, accidents, vandalism, and other events will be at least partially paid for by the insurance company. Many policies also include coverage for other structures, personal property, and some premises liability.

  
  

  It is not required by law that a homeowner purchases insurance for their property. However, if you have a mortgage, the lender will usually make purchasing a homeowners' policy a mandatory part of the loan process. Since the mortgage lender is essentially selling you the home, they require you to protect the investment.
  

• Can you file a complaint against your homeowners' insurance company in O'Fallon?

  Yes, you can file a complaint against your homeowners' insurance company in O'Fallon with the Missouri Department of Commerce and Insurance. Initially, it's best to discuss the issue with your insurance agent or company representative. If the problem persists and you suspect a violation of Missouri laws or regulations, you can submit a complaint form or contact the Consumer Hotline at 800-726-7390.

• Can your homeowners' insurance premium increase after filing a claim in O'Fallon?

  Filing a homeowners' insurance claim in O'Fallon may cause a temporary increase in your premium, depending on factors like the claim type, damage severity, location, and claim history. Claims related to theft, water damage, and liability often lead to higher premiums due to their perceived risk of recurrence. Generally, premiums are more likely to increase for liability claims due to potential legal costs. The impact on your premium varies based on the nature of the claim.

• Can you bundle your homeowners' insurance with other types of insurance in O'Fallon for discounts?

  Yes, you can bundle your homeowners' insurance with other insurance policies, like auto or life insurance. Many insurance providers provide discounts as an incentive for bundling policies. For instance, you can receive discounts by bundling your home and auto insurance together. Additionally, you can bundle various coverages, such as boat and auto insurance, multicar policies, and combinations of auto, home, and life insurance.

• Can home insurance companies in O'Fallon deny coverage based on an individual’s credit history?

  Yes. Homeowners' insurance providers in O'Fallon have the authority to decline coverage or impose higher premiums based on an individual's credit history. Individuals with low credit scores might experience higher insurance costs or even a refusal of coverage. Those with limited credit histories might also encounter increased insurance expenses, depending on the insurance company's policies.

• Can home insurance companies cancel your policy in O'Fallon without reason?

  In O'Fallon, homeowners' insurance companies cannot cancel your policy without a valid reason. These include non-payment of premiums, fraud or misrepresentation during the application process, the policyholder's conviction of a crime, or property modifications that significantly increase the risk of loss. However, during the initial 60 days of a new policy, insurance companies have more flexibility and can cancel your policy for nearly any reason.

• What determines the price of homeowners insurance premium?

  The premium, or monthly cost, of your homeowners' insurance policy depends on several factors, including the value of your home and amount of coverage you choose. Your credit history and whether the property is in a higher risk area also play a role.