What First Chicago Insurance Is
First Chicago Insurance is a property and casualty insurance company that has operated in Illinois since 1885. The company writes homeowners insurance, auto insurance, and commercial coverage, primarily serving customers in the Chicago area and across Illinois. First Chicago is a subsidiary of Old National Bancorp and operates under the First Chicago Insurance Company name.
The company is regulated by the Illinois Department of Insurance, which means your policy terms, rates, and claims handling are subject to state oversight. First Chicago is not a government program — it is a private insurance carrier that you pay premiums to in exchange for coverage against specific risks outlined in your policy.
Key Takeaways
- First Chicago Insurance offers homeowners, auto, and commercial insurance policies primarily in Illinois, with rates and coverage terms set by the company and regulated by the state.
- You obtain coverage by contacting First Chicago directly or through an independent insurance agent who represents the company.
- Your policy document spells out exactly what is covered, what is excluded, and what you pay in premiums and deductibles.
- If you have a claim, you report it to First Chicago's claims department, which investigates and determines whether the loss is covered under your policy.
- First Chicago's financial stability and complaint history are public information you can review through the Illinois Department of Insurance.
How to Get a Quote and Purchase a Policy
To explore First Chicago Insurance coverage, you can contact the company directly by phone or through its website, or you can work with an independent insurance agent licensed to sell First Chicago policies. An agent can often compare First Chicago rates with other carriers and help you understand what coverage you need.
When you request a quote, First Chicago will ask for information about the property or vehicle you want to insure — for homeowners insurance, this includes the home's age, construction type, square footage, and claims history; for auto insurance, it includes driver information, vehicle details, and driving records. The company uses this information to calculate your premium, which is the amount you pay for coverage.
Once you receive a quote and decide to purchase, you will sign the policy documents, pay your first premium, and your coverage begins on the date specified in the policy. Most policies renew annually, and First Chicago will send you a renewal notice before your current policy expires.
Understanding Your Homeowners Policy
A First Chicago homeowners policy typically covers the structure of your home, your personal belongings inside the home, liability if someone is injured on your property, and additional living expenses if your home becomes uninhabitable due to a covered loss. The policy document lists specific perils — such as fire, theft, windstorm, or hail — that trigger coverage.
Your policy will have a deductible, which is the amount you pay out of pocket before First Chicago's coverage begins. For example, if your deductible is $1,000 and you file a claim for $5,000 in damage, you pay $1,000 and First Chicago pays $4,000. Higher deductibles lower your premium; lower deductibles raise it.
Homeowners policies do not cover flood damage or earthquake damage — those require separate policies. First Chicago may offer flood insurance through the National Flood Insurance Program, or you may need to purchase it elsewhere. Your mortgage lender will require you to carry homeowners insurance as long as you have an outstanding loan on the property.
Understanding Your Auto Insurance Policy
First Chicago auto insurance typically includes liability coverage (which pays for damage or injury you cause to others), collision coverage (which pays for damage to your car from a collision), comprehensive coverage (which covers theft, weather, and other non-collision damage), and uninsured motorist coverage (which protects you if hit by someone without insurance). You choose the coverage limits and deductibles when you purchase the policy.
Like homeowners policies, auto policies have deductibles. If you cause an accident and your liability limit is $100,000, First Chicago will pay up to that amount for the other person's medical bills and vehicle damage. If the damage exceeds your limit, you may be responsible for the overage.
Illinois requires all drivers to carry auto insurance. First Chicago will provide proof of coverage (an ID card) that you must carry in your vehicle. If you let your policy lapse, you risk fines and loss of your driver's license.
How to File a Claim
If you experience a loss covered by your First Chicago policy — such as a fire, theft, or accident — you must report it to First Chicago's claims department as soon as possible. Most insurance companies ask you to report within a specific timeframe, often 30 to 60 days. You can file a claim by phone, online, or through an agent.
When you file, have your policy number ready and be prepared to describe what happened, when it happened, and what was damaged or lost. First Chicago will assign a claims adjuster to your case. The adjuster may inspect the damage, review your policy, and request documentation such as receipts, photos, or repair estimates.
The adjuster will determine whether the loss is covered under your policy and, if so, calculate the amount First Chicago will pay. This process typically takes days to weeks depending on the complexity of the claim. If you disagree with the adjuster's decision, you have the right to appeal or pursue other remedies outlined in your policy.
Checking First Chicago's Financial Stability and Complaint History
Before purchasing a policy, you can verify that First Chicago is financially sound and licensed to sell insurance in Illinois. The Illinois Department of Insurance maintains a public database where you can search for the company's license status, complaint history, and any enforcement actions.
You can also check First Chicago's financial ratings through agencies such as A.M. Best or Standard & Poor's, which rate insurance companies' ability to pay claims. A strong rating means the company has sufficient reserves to cover claims even during difficult years.
If you have a complaint about First Chicago — such as a claim denial you believe is unfair or a billing error — you can file a complaint with the Illinois Department of Insurance. The department will investigate and may take action if the company violated state insurance laws.
Frequently Asked Questions
What if First Chicago denies my claim?
If First Chicago denies your claim, the denial letter must explain the reason — usually that the loss is not covered under your policy or that you did not meet a condition of coverage. You can request a detailed explanation, review your policy to understand the exclusion, and ask First Chicago to reconsider. If you disagree, you may file a complaint with the Illinois Department of Insurance or pursue other remedies available under state law.
Can I cancel my First Chicago policy anytime?
Yes, you can cancel your policy at any time by contacting First Chicago directly. However, if you have an outstanding mortgage or auto loan, your lender may require you to maintain continuous coverage. Canceling without replacing your coverage could result in fines or license suspension for auto insurance.
Does First Chicago offer discounts?
First Chicago offers various discounts depending on the type of policy and your circumstances — common discounts include bundling homeowners and auto policies, maintaining a claims-free history, installing security systems, and completing defensive driving courses. Ask your agent or First Chicago directly about discounts you may may have access to for.
What happens if I miss a premium payment?
If you miss a premium payment, First Chicago will typically send you a notice and allow a grace period — usually 10 to 30 days — to pay before the policy lapses. If you do not pay within the grace period, your coverage ends and you will no longer be protected. For auto insurance, a lapsed policy can result in license suspension.
How do I update my policy if my situation changes?
Contact First Chicago directly or work with your agent to make changes such as adding a driver, updating your address, or increasing coverage limits. Some changes take effect when ready; others may require a policy amendment or renewal. Always notify First Chicago of significant changes so your coverage remains accurate.