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Assessing Your Home Insurance Coverage: An Interview with Wil Salvador of Premiere Insurance Services of Chicago

By Wil Salvador

Tell us a little bit about your company and its foundation.

Over twenty years' experience in insurance business with Allstate, State Farm and AON. Opened one of the first insurance offices with State Farm that served the Hispanic community.

What are some of the services your company provides?

We assist clients that have been dropped by other insurance companies because of claims.
We review and make insurance recommendations based on customer needs.
With offer specialized insurance programs that will improve coverage and lower premiums.

Please briefly explain the idea of home insurance to our readers, what it is, why it was created, etc.

Your home is the biggest investment you will make and all it takes is one claim to lose a life's work of savings. Not only should you protect your home but the property in your home is also covered. With a homeowners policy you will also have liability coverage should someone get hurt on your property and you are held responsible. (E.g. imagine children and a trampoline in the back yard)

There are various limits of coverage for certain coverage's (E.g. Jewelry, water backup, business in the home). You cannot obtain a home loan unless you have homeowners insurance.

What are the advantages of working with a local agent, rather than a popular online insurance source?

A local independent agent works for the client and not an insurance company and thus can be more objective when offering insurance recommendations based on needs. An independent agent has more options available to make sure clients have the right coverage at a competitive premium. An independent agent will shop for you so you do not have too.

What is the deductible and how does the insurer decide on the amount?

The deductible is the amount you will be responsible for should a loss occur, in general the higher the deductible the lower the premium. The correct deductible is a personal decision and one should factor what one can afford to a pay should a loss occur. A client should also review various deductibles and premiums to decide which deductible is a better value. There can now be different deductibles in one policy which can make things confusing when a loss occurs. Higher deductible have been a trend to deter filing claims.

Do most property protection policies include dwelling, other structures, and personal property?

Home Insurance policies will have coverage's that most companies offer. Dwelling, Personal Property, Liability, other structures. There are limitations and exclusions on certain home polices.

What does the personal liability part of my policy cover? Will the insurer pay for medical expenses as well?

Should someone get hurt on your property the liability section of the home policy will provide protection should you get sued. The medical portion will pay for damages whether you are libel or not at a much lower amount then the liability section.

Do you have anymore tips for someone who is out their home insurance policy?

Contact an independent insurance agent with experience and that represents numerous top rated companies to ensure you are getting a competitive quote. Understand your policy and what it covers and excludes. Take advantage of discounts when you purchase more than one policy from the same company.

What's the best way for people to get in contact with you and your company?

Office 773.777.1922

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