Water Backup Insurance for Pilsen area?

[Kevin Huang]

About to close on my first property and need to decide on how much insurance to purchase.  The main piece I'm having trouble with is deciding how much water backup insurance to purchase, if any.  I don't have any experience or knowledge into how prevalent flooding issues are (both in the City in general as well as Pilsen specifically).  Any thoughts/advice are greatly appreciated!

[Nicholas Covington]

Hello @Kevin Huang!

Question: When you mention flooding in the city, are you just talking about from mother nature? If so, water backup is not what you are looking for as it does not cover "flooding." That would be flood insurance, which would be required by your lender more than likely if you reside in a flood zone. 

If you are talking about water backup in regards to a backed up pipes or sump pump overflow then please read the rest of this message. 

--------------------------- Read if referring to pipes and not rain water----------------

Water back up is a tough one to really consider because it is one coverage that is the most subjective. If you want to get water backup I would yourself "if it was to occur, what would be damaged?" Say you have a fully furnished basement and the sump pump overflowed, that would cost a lot more money to fix than say a unfinished basement. 

Granted I know nothing about the area that you are purchasing a property in, but I might suggest going in person to talk to an insurance broker that knows the area better and what claims has been filed recently based on water backup. That would be your best bet if you want something more catered to your geographic location. Again call or go locally, don't dial a 1-800 number.

The good thing with insurance is that you can always add or remove it later. So don't feel pressured to need to make a decision right away. 

So again it really just depends on the type of home you are getting and what could potentially be damaged.