Insurance For All Property

Depending on where a property is located the property rates vary. lets say a home (or business) located in Chicago, IL in the Austin District. That is a protection clas two. Let us assume a building limit of $500,000 and a contents limit of $100,000. The premiun is unimportant as we are dealing with percentages, however this will cost $2,500 annually with an A rated insurance company. Now for the fun part....the very same building valued at $500,000 with the same $100,000 in contents in a rural town with a volunteer fire department. WOW. As you will see the cost for this can be quite different. A volunteer department will always bring a protection class 9. The cost for this will be $4,000 annually. The additional $1,500 are specifically attributed to the protection class 9 that dictates rating tiers with all insurance companies. Insurance companies do not all write business in a protection class 9, therefore it can be quite a task to even get a quote when a building is located within one. If anyone has a need to insure a "hard to write/insure property" please do not hesitate to call Jack Mann @ 630-546-9303.