Discover the Most Fun Things to Do in Chicago’s South Loop

Chicago’s South Loop is like a treasure chest waiting to be opened. It’s a neighborhood where history mingles with modernity, where art, culture, and food collide in the best possible ways. Whether you’re a local or just passing through, the South Loop is packed with fun experiences that will make your day (or night) unforgettable. Let’s dive into some of the best things to do in this lively part of the Windy City.

1. Explore the Wonders of the Field Museum

First up, the Field Museum, because who doesn’t love a giant T-Rex? The museum is home to Sue, the most complete T-Rex skeleton ever discovered. But that’s just the start. From ancient Egyptian mummies to dazzling gems, and cultural exhibits from around the world, you can easily spend hours wandering through history. And if you’re feeling adventurous, don’t miss the interactive exhibits where you can unleash your inner archaeologist.

2. Take a Stroll in Grant Park

Dubbed “Chicago’s Front Yard,” Grant Park is the heart and soul of the South Loop. It’s the perfect spot for a leisurely stroll, a quick jog, or even a picnic. The park is home to Buckingham Fountain, one of the largest fountains in the world, and the Art Institute of Chicago is just a stone’s throw away. On a sunny day, the park’s wide green spaces are ideal for relaxing or playing frisbee, and if you’re lucky, you might catch one of the many festivals or concerts that take place here throughout the year.

3. Catch a Game at Soldier Field

Sports fans, this one’s for you. Soldier Field isn’t just any old stadium; it’s a legendary venue where you can catch a Chicago Bears game or other major events. The atmosphere on game day is electric, with fans pouring in from all over, ready to cheer on their team. Even if you’re not a die-hard sports fan, the stadium’s architecture and history are worth checking out.

4. Wander Through the Prairie Avenue Historic District

Step back in time with a visit to the Prairie Avenue Historic District. This area was once home to some of Chicago’s wealthiest residents, and the grand mansions here are a testament to the opulence of the Gilded Age. The Glessner House, a Romanesque mansion turned museum, is a highlight, offering guided tours that give you a peek into Chicago’s past. As you wander the tree-lined streets, you’ll feel like you’ve been transported to a different era.

5. Indulge in Delicious Eats

No visit to the South Loop is complete without sampling its culinary delights. Whether you’re craving deep-dish pizza, gourmet burgers, or something more exotic, this neighborhood has you covered. Stop by Lou Malnati’s for a slice of iconic Chicago pizza, or head to Eleven City Diner for a retro vibe and some seriously good sandwiches. For a more refined dining experience, Mercat a la Planxa offers Catalan-inspired dishes that will have your taste buds dancing.

6. Visit the Museum Campus

The South Loop’s Museum Campus is a must-visit, especially if you’re a fan of science and nature. In addition to the Field Museum, you’ll find the Shedd Aquarium and Adler Planetarium here. The Shedd is one of the largest indoor aquariums in the world, where you can marvel at everything from beluga whales to vibrant coral reefs. At the Adler Planetarium, take a journey through space with immersive shows and interactive exhibits that are out of this world.

7. Shop ‘til You Drop at Roosevelt Collection Shops

If retail therapy is your idea of fun, then the Roosevelt Collection Shops should be on your itinerary. This open-air shopping center has everything from big-name brands to cozy cafes. After you’ve shopped to your heart’s content, catch a movie at the on-site theater, or just relax in the plaza and enjoy the view of Chicago’s stunning skyline.

Final Thoughts

The South Loop is more than just a neighborhood; it’s an experience. Whether you’re uncovering history at the museums, soaking in the views at Grant Park, or indulging in the local eats, there’s no shortage of fun things to do. So next time you find yourself in Chicago, make sure the South Loop is on your list. Trust me, you won’t regret it!

Best things to do in the South Loop

When searching for the right property, the location is normally high on people's list of priorities. The South Loop is a downtown neighborhood that's just south of the city of Chicago. Despite being in such a lively city, the South Loop is known for its quieter feel.

The South Loop is easy-to-find, accessible, and in an ideal spot. Bordered by Chinatown and close to parks, the lake, and the Chicago river, it's an amazing place to take a stroll and explore some of the interesting and diverse surroundings.

Although this is mostly known for being a residential area, there's so much to do - you won't be disappointed!

There's a range of activities to try out, including the cultural and educational experiences in the Chicago Museum Campus, historic buildings, and plenty of restaurants, bars, and music.

If you're looking for the best things to do in the South Loop, here are some of our top choices: 

---

Adler Planetarium

Adler Planetarium is an extremely popular place to visit in the South Loop area. The planetarium attracts more than half a million visitors each year and is an important attraction in Chicago’s Museum Campus. 

The Adler Planetarium was originally established in 1930, making it one of the first planetariums in the country. For anyone interested in science or astronomy, this is an amazing museum to visit while in the South Loop area, keeping you updated on all the latest discoveries. 

The museum is centered around space and astrophysics and has many displays and movies about the planets, the creation of the universe, and much more. It also puts on different events for the local community. 

There’s something for everyone and the museum is suitable for all ages, including displays and activities for younger children and families. 

---

The Field Museum 

Next on our list is The Field Museum, one of the biggest natural history museums around. Among its diverse collections are fossils, scientific displays, cultural items, and much more. 

The museum has many exhibits and interactive displays, making it a great place for individuals,  families, groups of friends, and couples. There's loads to see and do - it’s one of the best places in the South Loop to learn about science and history and visitors really enjoy it. 

---

Shedd Aquarium 

Located next to Lake Michigan, the Shedd Aquarium is a fun and interesting day out. Being Chicago’s main aquarium, there are thousands of animals including fish and marine mammals, amphibians, birds, and snakes. 

Some of the highlights include dolphins, zebra sharks, and whales, and there are tons of spotlight shows throughout the day to enjoy. The aquarium is an interesting visit for all age groups, but it’s particularly popular with families who have young kids. 

Outside the aquarium, you can enjoy breathtaking views of the lake and there is a walk along the river, which is a beautiful end to the day. 

---

The Art Institute of Chicago

The Art Institute of Chicago should be on the must-visit list for anyone who loves art or history - and, with a range of items in the gallery, there’s something for everyone. 

In the museum, there are collections of art, including one of the best collections of impressionist artwork and a spectacular and diverse collection of contemporary artwork. 

The museum is easy to get to as it’s located in the downtown area near Pilsen and is close to public transport links. It often has extended opening times, which also makes it really convenient. 

---

Millennium Park

Although Chicago is known for its skyscrapers and vibrant, bustling atmosphere, it also has plenty of parks and open spaces to enjoy being outside in nature. In the South Loop, there are plenty of parks, and one of the most famous is Millennium Park. 

Located in the heart of downtown Chicago, Millennium Park is three square blocks of open space with plenty to do. From outdoor events in the music pavilion to ice skating, this is one of the city’s most popular sites and attracts people from all over the city. 

Whether you want to relax on the grass and enjoy some delicious food and drinks, relax with the family, explore some of the sites like the Cloud Gate sculpture, or simply soak up the atmosphere, Millennium Place is always worth visiting. 

---

Grant Park 

If parks are your scene, Grant Park is the most famous in this area and is considered a centerpiece in the city. It’s one of South Loop's most visited attractions and has over 300 acres of incredibly green space to enjoy. 

Grant Park stretches from the Chicago Museum Campus with its many attractions, all the way through to Millennium Park. It is known for its remarkable gardens, iconic landmarks, sports facilities, play areas, and much more. 

The park is also known for its events, festivals, and activities. Whether you enjoy the bustle of city life or want to enjoy the tranquility of being outdoors on the waterfront, you’ll find something to suit your preferences. 

---

Should you buy real estate in the South Loop? 

Having plenty of amenities in the local area is essential when looking for a new home. In the South Loop, there are plenty of choices when it comes to things to do, and this is one of the most important benefits of this neighborhood. 

There is a wide selection of activities close by - with parks, entertainment, restaurants and bars, museums, and more, there really is something for everyone making it an amazing place to live. 

Of the dozens of vibrant neighborhoods available in the Chicago area, South Loop is one of the most popular and attracts attention from families, couples, young people, and investors. 

Whether you’re a first time home buyer or investor, are thinking of relocating, upsizing or downsizing, or have another reason to move, the local community has seen a major revitalization in the last ten years. 

You’ll find plenty of high-quality schools, transport, a mixture of historic and modern buildings, and more. 

So, to find out more about buying real estate in the area, contact me for more information on the types of properties available and how to move forward. 

Best Parks in the South Loop

The City of Chicago may be famous for its bustling atmosphere and soaring skyscrapers, but it also has some great green spaces. In the South Loop, residents can enjoy the tranquility and beautiful nature that can be found in the area's many parks.

Local parks can bring people together, which is great! Some parks are known for community events and festivals, and many families say they are essential when you have small children.

For anyone that wants to take a gentle stroll, jog, or bike ride, play sports, enjoy natural gardens and scenery, or simply get away from the noise, there's ample space in the South Loop.

As any good real estate broker would inform you, many of Chicago's most popular parks are located near the water's edge around the Grant Park area. The location is known for its stunning views and many peaceful spots to enjoy, making it a hugely popular spot for buying real estate.

With this in mind, here are some of the best parks in the South Loop, Chicago: 

Grant Park

Grant Park is one of Chicago's most famous outdoor spaces. Considered to be a centerpiece in the city, it has over 300 acres of stunning green space for the city's residents to enjoy.

Being close to the South Loop neighborhood, the location is ideal. Grant Park itself stretches from Millennium Park in the North all the way through to the Field Museum in the south.

The park has tennis courts, breathtaking gardens, and children's play areas, as well as some iconic landmarks and attractions. For example, the park is home to the Museum Campus, the Alder and the Shedd Aquarium, and the Field Museum

The Clarence Buckingham Memorial Fountain, which was built in 1927, is another major attraction and is a historic focal point in the large open spaces surrounding it.

Another huge benefit of being close to Grant Park is that some of South Loop's greatest events are right on your doorstep. It hosts some of the city's best food and music festivals, including The Grant Park Music Festival, Lollapalooza, and The Taste of Chicago.

Whether you're interested in the bustle of city life, taking part in sports and activities, or simply enjoying some peace and quiet whilst taking in the beautiful waterfront views, Grant Park is an amazing place to explore, relax, and unwind.

Cotton Tail Park

Cotton Tail Park is a popular park among families in the local area as it has two playing areas for children, alongside open fields that are perfect for playing sports, going for a picnic, flying a kite, or simply enjoying spending time outdoors.

This is one of many parks in the South Loop area and it is greatly enjoyed by people living in the local neighborhood, making it another favorite.

Dearborn Park

Although smaller than the impressive Grant Park, Dearborn Park is a hidden gem tucked away in the South Loop neighborhood. With plenty of trees and plants, it's very calm and tranquil.

It's accessible through multiple points, including its entrance close to Dearborn Station. This makes it a convenient outdoor space for local residents.

This park is a lot quieter and has a community feel, making it a fantastic choice for walking your dog, reading or studying, or just being in nature. It also has an exercise track, making it a good choice if you want to use the park to work out. 

Chicago Women's Park & Gardens

Another popular park in South Loop, Chicago is the Women's Park & Gardens. This park was opened in 2000 and covers just over 3.23 acres of green space.

The park provides landscaped gardens and community events. It also has a newly renovated space with a kids' club, summer camps, and three brand-new fitness studios to enjoy.

Additionally, visitors can enjoy a variety of organized fitness programs, like yoga, evening exercise classes, and Mom and Tot or preschool activities. In the evenings, there are often fun family events like movie nights or concerts.

One of the unique features of this park is that it is designed to celebrate women in the city and features an ornamental "Helping Hands" sculpture and ornamental fountain.

You can find this park by heading for the Prairie Avenue Historic District - it is located between two of the area's most popular museums, Glessner House and the Widow Clarke House. 

Daniel Webster Park

The last park on our list is Daniel Webster Park, which is located in the South Loop and is a huge benefit to the local community. At just over an acre in size, this park is small, but it provides a lovely quiet spot for people living in the local area.

The green space is enjoyed by residents all year round for exercise, dog walking, socializing, and organized events. Many of the events are organized by the Chicago Women's Park and Gardens, which is a short walk away from Daniel Webster Park. 

The Benefits of Buying Real Estate in South Loop

When looking for a new home, being near local parks is essential for lots of families and individuals. There are so many benefits to having open public spaces near your home. It can help you stay fit and active, improve your mental health, and make new friends.

Of the dozens of vibrant neighborhoods available, South Loop is particularly desirable and attracts attention from families, couples, young people, and investors.

Whether you're a property investor, first time home buyer, looking to upsize or downsize, or simply relocate, South Loop could be an ideal choice. Over the last ten years, the community has been revamped and has a variety of modern buildings and plenty of transportation.

This, along with the many museums, historical attractions, entertainment, serine parks, and high-quality schools, make the South Loop a great choice with lots of real estate options.

If you're interested in buying real estate in the area, contact me for more information on the types of properties available and how to proceed.

Bridgeport Property for Sale | 3500 S Sangamon St #403 | 1 Bed | 1 Bath

A gorgeous apartment in a great area, you will feel right at home from the moment you step inside. Contemporary and cool, this space has been tastefully finished with exposed brick and ductwork for a modern loft feel you're sure to love. Totally open concept, the living spaces blend effortlessly into the kitchen and the entire space is full of warm natural light highlighting designer flooring throughout. Also offering outdoor space, a private patio is the perfect place to relax and take in the picturesque views. An in-unit washer and dryer, residential gym and available parking make this space as convenient as it is beautiful - don't let this one pass you by.

 

South Loop Property for Sale | 1717 S Prairie Ave #1410 | 2 Bed | 2 Bath

Nestled in the heart of the historic Prairie District, this gorgeous 2-bed, 2-bath condo is right where you want to be. Offering plenty of intentionally designed living space, you will adore the open concept entertainment space, balcony off the living room east lake views, full of natural light that effortlessly guides you to the stylish kitchen with stainless-steel appliances, beautiful quartz countertops and a spacious island. A few steps takes you to your roomy private balcony where you can soak in the sun and enjoy picturesque lake view off the bedroom. The private quarters are just as stylish with a large bedroom with walk-in closet and a beautiful bathroom with soaker tub and separate shower. Prime indoor park + $30k. Don't let this one pass you by - call today for your private showing!

 

South Loop Property for Sale | 1923 S State St Unit 1 | 2 Bed | 3 Bath

Boasting a premium location in South Loop with easy access to all the best museums, Soldier Field and local amenities, you don’t want to let this 2-bedroom, 3-bathroom home pass you by. Offering 1,450 sq. ft. of intentionally designed living space, this bright and beautiful home has been lovingly updated including new designer flooring and a fresh coat of paint. The living areas are spacious and perfect for entertaining, and the bedrooms are roomy with ample storage and chic modern bathrooms. You don’t want to let this one pass you by – call today for more info! 

 

South Loop Property for Sale | 1620 S Michigan Ave Unit 1207 | 2 Bed 2 Bath

Gorgeous views of the lake and expansive room to spread out make this penthouse unit a must-see. 15-foot ceilings highlight an open concept entertainment space that's flooded with natural light from the floor-to-ceiling windows. The large full kitchen is perfect for the culinary enthusiast with luxe granite countertops, rich cherry wood cabinetry and stainless-steel appliances. Enjoy the massive amount of entertainment space including an oversized balcony where you can soak in the amazing views. Each bedroom has its own bathroom, plus a roomy bonus den that makes this the perfect spot to work from home. Not to be missed, this one won't last long - call today for more info! Premiere 2.5 car extra large tandem parking space is an additional $30,000.

---

 

South Loop Property for Sale | 1720 S Michigan Ave #2614 | 1 Bed 1 Bath

This 1-bedroom unit at 1720 S. Michigan, amazing views of the City's Skyline from this contemporary, west-facing unit. 10' ceilings, floor-to-ceiling windows, and balcony in the booming South Loop! Premium upgraded finishes include real hardwood floors, granite countertops, SS appliances, and in unit W/D. 24 HR - Doorman staffed building. Pet friendly, dog run on site and large dog park right around the corner. Steps from Soldier's Field, Millennium Park, shopping and dining. EZ access to public transportation and Lake Shore Drive. Call and schedule your private tour today! Parking available for $30K

---

 

South Loop Property for Sale | 1813 S Clark St | 3 Bed 2 Bath

A gorgeous townhome in the absolute perfect location, you will love being walking distance to Soldier Field, the Museum Campus, local schools and all nearby transportation. On the first level of this 4-story home is your own private 1 car garage, followed by a few stairs that take you to your incredible entertainment space - totally open concept with designer flooring, upgraded fixtures and a beautiful kitchen. The next floor houses the bright and spacious bedrooms including a sprawling master suite with walk-in closet and large ensuite. Finally, the top floor is bonus entertainment space with a second family room and a large private balcony the whole family will love. This home is sure to go quickly - call today to schedule your private showing!

---

 

South Loop Property for Sale | 1717 S Prairie Ave #1105 | 3 Bed | 2Bath

A gorgeous and modern apartment right in the heart of the Prairie District, you will love this 11th-floor unit in a full-service amenity building. A 24-hour doorman, fitness room, sauna and so much more make this South Loop home the exact place you want to be. As you step inside, rich hardwood floors, tons of natural lighting and a modern open concept entertainment space welcome you home. A fully-equipped chef's kitchen with high end Bosch SS appliances, solid cherry cabinetry, designer granite counter tops and Grohe faucets just perfect for the cook of the family. Enjoy entertaining in the roomy balcony with gorgeous city views. Beautifully finished and in the perfect location, you don't want to let this one pass you by!

 

South Loop Property for Sale | 1819 S Michigan Ave #507 | 2 Bed | 1 Bath

Don't miss this gorgeous two-bed condo in the absolute perfect location. Right on Michigan Ave., you will love being walking distance to public transit, all the best local shops and restaurants and just minutes to the Loop and Lakefront! From the moment you step inside, you're immediately greeted by the modern open concept entertainment area. Natural light pours inside from the floor-to-ceiling windows highlighting the rich hardwood floors. New washer and dryer installed and new shower doors. The full-size kitchen is fitted with stainless-steel appliances and looks over the spacious living and dining area. Outside, the entertainment space continues on the large balcony where you can relax and enjoy beautiful city views. Don't let this one pass you by!

 

Oak Park Property for Sale | 644 Washington Blvd Unit A | 2 Bed | 1.1 Bath | $300,000

Listing Description

Don't miss this stunning updated townhouse in the village of Oak Park just a quick commute to the city. Renovated in 2017, this like-new home is full of character and completely move-in ready. Modern yet timeless, the high-end fixtures and designer flooring pair effortlessly to create the perfect space. An open entertainment area, oversized gourmet kitchen and bonus breakfast bar seating make this home as practical as it is cool. You'll love the private patio with space to entertain or relax with a cup of coffee. Beautifully designed and centrally located, this one won't last long. Schedule your private showing today!

Interested? Get More Info Below.

Location:

644 Washington Boulevard

Oak Park, IL 60302

 

---

Albany Park Property for Sale | 4944 N Drake Ave | Renovated 2 Flat | $675,000

About the Property

A stunning investment or income property opportunity, this two-flat duplex sits on a quiet, tree-lined street in Albany Park and is right where you want to be. The main level offers two bedrooms, one bath plus an additional 3 bedrooms and bath in the lower level, and the upstairs unit has three bedrooms and one bath, all tastefully updated and beautifully finished. Soaring ceilings in each highlight oak hardwood flooring and open concept floorplans fitted with recessed lighting. Everything has been recently updated, including the bathrooms and kitchens that boast beautiful stainless-steel appliances and quartz countertops. Renovated backyard/patio with custom built in grill, perfect for entertaining. A spectacular opportunity you don't want to miss!

Schedule your private showing today!

Interested? Get More Info Below.

Location:

4944 N Drake Ave

Chicago, IL 60625

 

---

Bridgeport Property for Sale | 3615 S Morgan | 3 Bed | 2.2 Bath | $460,000

Listing Description

A beautiful townhome in a great location, this 3-bedroom, 2.2-bathroom, plus office home in Bridgeport is right where you want to be with easy access to local transit, dining, and amenities, including a one-minute walk to Donovan Park. Just built in 2017, this like-new home offers a modern open floorplan and updated fixtures to make this space both beautiful and practical. Sleek designer flooring and warm natural light highlight the beautiful entertainment space just waiting to host your next gathering. The thoughtfully designed kitchen is perfect for the home chef with luxe granite countertops, plenty of custom cabinetry, and updated stainless-steel appliances and hood. A bonus island provides even more prep space, as well as breakfast bar seating for two, while the large pantry gives extra storage and includes a washer and dryer.

Oversized sliding doors lead directly to your private outdoor balcony, complete with a natural gas line for grilling and space for al fresco dining. You can also enjoy great city views and ballpark fireworks directly from your own expanded full rooftop deck. Back inside, the bedrooms are bright and airy with bathrooms that have been beautifully finished, including a large master suite with walk-in closet and sparkling ensuite bathroom. The first floor is just right for a home office or workout room. A modern layout, upgraded finishes, and plenty of features that include an attached two-car garage make this a must-see home you don’t want to miss – call today for a private showing!

Schedule your private showing today!

Interested? Get More Info Below.

Location:

3615 S Morgan St

Chicago, IL 60609

 

---

Skokie Property for Sale |9345 Kolmar Avenue Skokie, IL 60076 | 4 Bed | 3 Bath | $349,000

Listing Description

Don't miss this bright and spacious single-family 3-bedroom, 3-bathroom home! Boasting a great location, you will love living across the street from a large park with baseball, basketball and tennis courts! Enjoy years of maintenance free living in this charming home that has been meticulously updated from the inside out with newly-installed hardwood floors throughout, a brand-new roof, water heater and furnace! The updates continue in the serene backyard with a new privacy fence and gazebo to give you the perfect outdoor oasis. With a great location and tons of updates, this one won't last long!

Schedule your private showing today!

Interested? Get More Info Below.

Location:

9345 Kolmar Avenue

Skokie, IL 60076

 

---

University Village Property for Sale | 1524 S Sangamon | 2 Bed | 1 Bath | $222,900

Listing Description

Sleek, modern and in the perfect location, you don’t want to let this chic condo pass you by. Located in highly-desirable University Village, you’ll love easy access to nearby dining, shops and nightlife, and just a quick commute downtown. An open concept entertainment space welcomes you into the home, highlighted by hardwood floors and tons of natural light. The modern kitchen is fully equipped and even offers bonus breakfast bar seating at the oversized island. Large sliding doors lead to your private patio with space for a grill and al fresco dining. This must-see condo won’t last long – call today for a private showing!

Schedule your private showing today!

Interested? Get More Info Below.

Location:

1524 S Sangamon

St, Chicago, IL 60608

 

---

Relocating To & From Chicago

Are you Relocating to a home in Chicago? Are you moving out of the Chicago area and need a Real Estate Agent you can trust? In todays video, I will cover an overview of what I can do to help you.

““Let me make sure you are well taken care of.””

— Real Estate Agent | Tom Campone

Although I am a Chicago Real Estate Agent, I do have a wide variety of agents in my Network in many different areas that may be the best fit for you.

Top 10 Questions to Ask About Your Home Insurance Policy

Buying a new home requires a lot of preparation, including looking for a home insurance policy that provides the coverage you need. Although United States law does not require you to purchase homeowners insurance, it is necessary if you are dealing with lenders or mortgage providers. 

If it is your first time to buy a policy, you must know what you need or what you are looking for. If you already have homeowners insurance, you must understand what your policy covers and how it protects your home and personal belongings. Talking to your insurance agent will provide the information that will help determine the right coverage for your home.

Here are ten home insurance questions to ask about and discuss with your agent. 

1. What does my home insurance cover?

Home insurance policies vary in many ways, but they always provide these four customary coverage: dwelling, personal property, loss of use, and liability.   

2. What is dwelling coverage?

Dwelling coverage protects your home’s structure, particularly if any part of it is destroyed by specific perils or events. Any structure attached to your home – such as your garage, roofing, walls, foundation, flooring, and even built-in appliances – is covered. 

The perils or events covered by standard dwelling insurance are fire, smoke, theft, lightning, explosions, vandalism, sleet, hail, wind, and falling objects.

Dwelling insurance does not cover damage due to earthquakes and flooding.

3. What is personal property coverage?

Personal property coverage is intended for your personal belongings or the items found inside your home. The policy protects your electronics, furniture, jewelry, and clothing. To determine how much coverage you need, make a detailed inventory of all your personal belongings. Give a copy to your insurance agent. 

Valuable items such as artworks and jewelry have sub-limits on their coverage. The policy only pays up to a particular amount. As such, if the total amount of your jewelry coverage is $2,000, that is what your insurance will pay you regardless of how much the actual cost of your items is.

Some homeowners prefer to include an add-on to their policy by scheduling or itemizing all their valuable items. Your insurance agent should know what else you need to do to increase coverage.

4. What is loss of use coverage?

Loss of use coverage protects you when your house is damaged and temporarily uninhabitable after being hit by fire or any covered perils. Also known as ALE or additional living expenses, this coverage is only for additional costs incurred while you are not residing in your home. Let’s say you’re living in a hotel or motel or an Airbnb unit; your policy will pay your temporary housing costs as well as public transportation spending. If you have a car and your budget for gas increased – from $100 a month to $200 a month – the policy will reimburse the additional $100 you spent.

Other expenses covered by loss of use protection are parking fees, additional food expenses, excess of normal or regular grocery expenses, and pet boarding. On top of these benefits, your policy also covers the cost of rebuilding your home, as well as the belongings that were affected by the peril. 

Talk to your insurance agent to find out what your loss of use coverage includes, as most insurance companies have varied exclusions.

5. What is liability coverage?

Liability coverage is what protects you when one of your household members (including your dog) injures another person (such as a guest or neighbor). It is also the protection you need when someone from your family causes unintentional damage to another person’s property. 

The coverage provided is dependent on the policy limit. Some homeowners discuss the possibility of getting an additional coverage limit with their insurance agents, which is particularly vital for those with pets. 

6. What factors affect the cost of my home insurance?

The location of your home, its susceptibility to damage, and the amount it is insured for. If your home is in an area close to bodies of water, and if it is made of substandard materials, your home insurance cost is higher. 

Other factors that affect homeowners insurance cost include claims history and how old your home is. What your house is made of also matters, especially if it is prone to rotting and termites.

7. Is there a way for me to reduce my home insurance cost?

One of the best ways to reduce home insurance costs is to compare quotes from different insurers. Take note of their coverage and decide which one is best for your needs. 

Raising your deductible will significantly reduce your premium, so you should also consider this option. Likewise, you can ask your insurance agent about discounts as agencies regularly offer them.

8. What is ACV or actual cash value?

ACV or actual cash value is a policy that uses your property’s condition, life expectancy, and age in determining its worth and how much to pay you. It is less expensive but does not pay for the complete rebuilding and repair of your home or the damaged property.

Actual cash value protects your personal belongings, such as appliances, furniture, and clothing. 

9. What is RCV or replacement cost value?

RCV or replacement cost value is a policy that pays the cost needed to rebuild or restore your damaged property. It replaces the damaged item with a new one and does not deduct for depreciation. It is more expensive than ACV but is worth the investment as it has wider coverage.

Replacement cost value is for protecting the structure of your home.

10. What is the usual rate of homeowners insurance?

Homeowners insurance costs differ according to your location or state. As of the year 2020, the average cost is estimated at more than $1,400 a year. The top five states with the most expensive home insurance cost are Oklahoma, Kansas, Texas, South Dakota, and South Carolina.

Talk to your insurance agent if you need more details on homeowners insurance.

How Much Profit Can You Keep When You Sell Your Home

Keep $250,000 profit if you sale your home tax free! Watch this to find out more.

“Taxes can have a profound impact on your financial future.”

-Realtor-Tom Campone