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Click on the
question to jump to the answer:
Q: WHAT IS
THE ILLINOIS FAIR PLAN ASSOCIATION?
A:
The Illinois FAIR Plan Association offers property insurance to
qualified applicants in Illinois who are unable to buy insurance through
the standard insurance market for reasons beyond their control. The FAIR
Plan may be an answer for responsible property owners or homeowners who
are having a problem obtaining property insurance in the standard
market. Many insureds use the FAIR Plan as a temporary market for a year
or two until they qualify for coverage in the standard market.
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Q: WHAT
COVERAGES ARE OFFERED?
A:
The FAIR Plan offers Dwelling Property, Commercial Property and a broad
range of Homeowners coverage for property owners, renters and
condominium owners. These products are similar to what is available in
the standard market. They provide protection against loss from such
hazards as fire, lightning, wind, hail, explosion, smoke, vehicles,
aircraft, and vandalism and malicious mischief. The FAIR Plan Homeowners
policy also protects against all these as well as burglary, theft and
personal liability coverage.
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Q: WHAT TYPE
OF POLICY SHOULD I PURCHASE?
A:
You should meet with a licensed Illinois insurance producer (broker
or agent) to help you find out your specific insurance needs.
>> To find out more click
here...Form
description/coverage comparison
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Q: HOW MUCH
INSURANCE SHOULD I BUY?
A:
The amount of insurance you need depends on the type of
policy you are requesting, and the replacement cost and market value of
your property. Your producer will help you determine how much insurance
you need.
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Q: HOW DO I
APPLY?
A:
Contact any licensed Illinois producer. The producer will help you
decide which policy form meets your insurance needs. Complete an
application for insurance. If you have any questions, contact the FAIR
Plan's Customer Service Department at (312) 861-0385.
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Q: WHAT ARE
THE FAIR PLAN'S UNDERWRITING STANDARDS?
A:
There are reasonable standards that must be met to be insured by
the FAIR Plan. However, these are basic things that most people would do
to make their property safe. A representative will visit your property
to make sure that our underwriting standards are met.
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Q: DO I HAVE
TO PAY THE PREMIUM ALL AT ONCE?
A:
Insureds may pay the entire premium at one time, or they may use the
FAIR Plan's 5 pay installment program. An initial deposit equal to 20%
of the premium is required. After that, the insured is billed
approximately every 55 days.
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Q: HOW DO I
REPORT A CLAIM?
A:
Contact your producer, call the FAIR Plan at (312) 861-0385 or
complete the Property Loss Notice on this website.
>> To find out more click
here... Property
Loss Notice
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Q: DO I NEED
A PRODUCER?
A:
The FAIR Plan strongly encourages applicants to use the services of
a licensed Illinois producer. A producer has received special training
and is able to provide the professional assistance that is necessary
when dealing with insurance matters. To locate a producer, you may get a
reference from a friend or relative, or look in the telephone directory.
Illinois FAIR Plan Association
One Prudential Plaza
130 East Randolph Street - Suite
1050
Chicago, IL 60601- 6207
Telephone: (312) 861-0385
Outside of Area Code 312:
1-800-972-4480
Facsimile: (312) 861-0485 or
(312) 861-0134
Please contact the
Illinois FAIR
Plan Association at (312) 861-0385 if you have any additional questions.
Our Customer Service Department is available from 8:30 AM until 4:00 PM.
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Disclaimer:
The information contained here
is a general summary of the programs offered by the Illinois FAIR Plan
Association. The insured's legal rights are determined by the insurance
policy and the Illinois Insurance Code, not by the contents of this
website. Underwriting rules, rates and standards are subject to change.
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