Do you really need a lot of coverage in a homeowners insurance policy when you live in Chicago? Answering that question will be based on your own personal needs and requirements. However, you do have to realize something about the city of Chicago: it is a major city with a large population located in an area where the weather is not exactly always very nice.
You will be buying a home in a truly wonderful and historic city, but you are also buying a home in a region where there are a lot of people. With a large population center does come liabilities. You also have to be seriously concerned about blizzards that can cause major structural damage to a home and also increase the potential for premises liability.
Does this all sound as if buying a home in Chicago might require just a bit too much responsibility? Actually, the odds being what the are, chances are likely no problems will occur with your home. Insurance of this nature is interindex to offer financial coverage in case a catastrophic event occurs. Things such as a person being injured on the property or damage from natural disasters may occur. However, steps can be taken to reduce the potential for such events occurring. This is true even with theft and fire related risks. However, risk will always be present because it cannot be eliminated completely. This is why Chicago homeowners insurance is so helpful.
Granted, your mortgage holder and local law may make homeowners insurance mandatory so you do have to acquire a policy. Saying that you are helping yourself might be a loose term when you consider the mandatory nature of the requirements for insurance. You can learn more at http://www.homeownersinsurancegeek.com/.
Regardless, having a policy in place will protect your home in the Chicago area.