What type of coverage can we help you with?

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There is a wide-range of different types of insurance and, to make it even more difficult, words like “Property Insurance” may mean different things in different situations.

Property insurance is an especially broad category. Because we want you to have a solid understanding of the terms and concepts we use, in this piece, we’ll be explaining what property insurance consists of and why it’s necessary.


What is property insurance?

According to Investopedia, property insurance “provides financial reimbursement to the owner or renter of a structure and its contents in the event of damage or theft.” Property Insurance most people are familiar with are homeowners insurance, renters insurance, and, in some areas, flood insurance.


Types of Property Insurance in Bloomington, IL

Homeowners Insurance

Homeowners insurance is insurance that covers your home and what’s inside of it. A homeowners insurance policy will respond when your house is damaged by things like fire, wind and hail. In addition, if your home is broken into and your possessions stolen, homeowners insurance will help you replace what was stolen or damaged.


Renter’s Insurance

Renter’s insurance is very similar to homeowners insurance except that it’s for tenants of buildings and doesn’t cover the structure. As Bloomington-Normal has a high population of students, many of whom live in apartments, renter’s insurance is especially important for our towns. Please see our past piece on renter’s insurance for a compelling look at why it is important in Bloomington-Normal!


Flood Insurance

Most homeowners policies are written with “Special Causes of Loss”.  This means everything is covered except what is specifically excluded. Unfortunately, damage from flooding is one of the excluded causes of loss. In most cases, water that enters your home through walls, floors, windows, etc., is considered flood.  However, you can purchase coverage for backup of water, sewer and sump pump. Talk to the professionals at PLR Insurance about Flood and Backup of Water/Sewer/Sump pump coverage.


Buy Property Insurance in Bloomington, IL

At PLR, we believe that no two people’s insurance needs are the same. That’s why we start every new relationship with a conversation. If you’re ready to explore your property insurance options, use one of the forms below and one of our dedicated agents will get in touch.

Homeowners Insurance

Renter’s Insurance

Flood Insurance


Posted 11:00 AM

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