Illinois Flood Insurance

Illinois Flood Insurance Information

Even though flood insurance is relatively inexpensive, most homeowners do
not choose to purchase the insurance protection available. According to the
Federal Insurance Administration, less than one-quarter of the homes in areas
most vulnerable are insured against flood loss. In those areas, flooding is 24
times more likely to occur than a fire during the course of a typical 30 year
mortgage.

A standard homeowners insurance policy will not cover damages caused by
flooding. You must have flood insurance from an insurer that writes for the
National Flood Insurance Program. If your community participates in a
floodplain management program, you should be eligible to buy the coverage no
matter if your flood risk is low, medium or high. Residents of "coastal barrier
areas" and communities that do not participate in floodplain management
programs may have trouble finding flood insurance coverage. Illinois flood
insurance is also available to renters, condominium owners, and co-op
owners.

Flood Perils Include:

Outside of fire, flooding is the most widespread natural disaster. According to
the National Flood Insurance Program, two adjacent properties have to be
under water to call the situation a flood. In a rural area, at least 2 acres must
be submerged.

The two primary types of Illinois Flood Insurance policies are listed below.

Actual Cash Value Policy

The value of property as figured by determining the cost to replace the damaged or
destroyed property and adjusting the replacement value by subtracting an amount
that reflects depreciation. Or in other words, replacement cost minus
depreciation. Homeowners are entitled to a replacement cost value if they live in
their homes at least 80% of the time and have flood insurance coverage for at least
80% of their home's market value.

Commercial and apartment buildings will be covered only for actual cash value.

Replacement Value Policy

The amount it costs to replace or rebuild a damaged property. Replacement cost
coverage is available only for the building portion of a condominium insurance
policy. Owners of single-family homes may be able to buy replacement cost
coverage on the building portions of their flood insurance policies. An Illinois flood
insurance replacement value policy will pay only the replacement value up to the
coverage limit. For example, if rebuilding your home will cost $400,000, but you
only purchased $300,000 in coverage, your insurance policy will pay you only
$300,000.

Click on the link below to fill out a secure quote request form for an Illinois Flood
Insurance policy that will provide excellent personal insurance coverage at an
affordable cost. Or you can speak with our Illinois Flood Insurance specialist toll
free at 877-808-2900 to discuss the policy features in more detail.

Click here to fill out an

Illinois Flood Insurance

quote request form

We are a Chicago, IL insurance agency offering affordable Illinois flood insurance
policy premiums in the following cities and counties: Oak Lawn, Englewood,
Calumet Park, Roseland, Landsing, Dolton, Calumet City, South Holland, Riverdale,
Glenwood, Chicago Heights, South Shore, Burnham, Oak Forest, Bedford Park,
Hazel Crest, Alsip, Palos Hills, South Chicago Heights, Orland Park, St. Charles,
Geneva, Batavia, Lafox, Orland Hills, Elburn, Mooseheart, De Kalb, Virgil, Maple
Park, Burlington, Kaneville, Cortland, Sycamore, Hampshire, Big Rock, Hinckley,
Wasco, Lily Lake, Valley View, South Elgin, Wayne, Aurora, Naperville, Montgomery,
Warrenville, Moecherville, Winfield, Wheaton, Carol Stream, Bartlett, Streamwood,
Glen Ellyn, Lisle, Glendale Heights, Hanover Park, Elgin, Ontarioville, Keeneyville,
Bloomingdale, Medinah, Roselle, Schaumberg, Hoffman Estates, Carpentersville,
Udina, Huntley, Gilberts, West Dundee, Barrington, Cary, Palatine, Lake Zurich,
Libertyville, Wauconda, Inverness, Elk Grove Village, Itasca, Addison, Lombard,
West Chicago, Villa Park, Elmhurst, Oak Brook, Highland Hills, Downers Grove,
Woodridge, Bolingbrook, Darien, Oswego, Yorkville, Sugar Grove, Joliet,
Romeoville, Algonquin, Buffalo Grove, Arlington Heights, Roling Meadows, Mount
Prospect, Des Plaines, Bensenville, Homer Glen, La Grange, Northbrook, Skokie,
Evanston, Cicero, Berwyn, Burbank, East Chicago, Waukegan, Mundelein,
Deerfield, North Chicago, Newark, Sheridan, Morris, Ottawa, Sandwich, Serena,
Waterman, Rochelle, Marengo, Dupage County, Kendall County, Will County, Lake
County, Kane County, and Cook County, IL. We also offer Illinois flood insurance
services throughout the prairie state, including in Moline, Rockford, Peoria,
Springfield, Bloomington, Decatur, and Champaign, IL.

Unusual & rapid accumulation of runoff or surface
waters from any source

Overflow of inland or tidal waters

Mud slides caused by flooding

The washing away, collapse, or subsiding of land
along the shoreline due to erosion or undermining
of waves or currents exceeding the cyclical levels

Sewer backup caused by flooding

To review the Federal Emergency Management Agency's
Flood Maps for your property...click HERE!

**The information, pictures, and other content in this website about particular insurance
services is only provided for informational purposes. Any decisions regarding your
insurance needs should be discussed with a licensed insurance agent.