What Is the Purpose of Property Insurance? 

Property insurance aims to provide financial protection and peace of mind to property owners by mitigating the risks associated with potential damage or loss to their assets. It covers a wide range of properties, including homes, commercial buildings, rental properties, and personal belongings within those properties.  

Types of Property Insurance Coverage 

Property insurance coverage typically comes in various forms, tailored to specific needs and risks. The following are some common types of property insurance coverage: 

• Dwelling coverage
• Personal property coverage
• Liability coverage
• Additional living expenses coverage
• Other structures coverage
• Commercial property coverage 

Please note that your unique insurance needs will dictate the type of property insurance coverage you may need. Work with your Primar Insurance Brokers to determine the type of property insurance you need. 

What Are the Benefits of Property Insurance? 

Individuals and businesses transfer the potential financial burden of property damage or loss to an insurance provider by obtaining property insurance. In the event of covered perils such as fire, theft, vandalism, natural disasters or accidents, property insurance may help to repair or replace damaged property and compensate for related expenses, minimizing the financial impact on the policyholder.  

Property Insurance vs. Homeowners Insurance 

Property insurance and homeowners insurance are terms often used interchangeably, but they have slight differences in their scope of coverage. While property insurance is a broader term that covers different types of properties, homeowners insurance is a specific type of property insurance tailored for residential homeowners and includes coverage for both physical structure and personal belongings, along with liability protection. 

Where to Get Property Insurance in Downers Grove, IL 

Whether you own a home, a rental property or a commercial building, property insurance is your shield against unexpected perils that can wreak havoc on your assets. Contact Primar Insurance Brokers to get the property insurance you need.