Purchasing a home is one of the biggest investments you will ever make in your lifetime and finding the right protection for this asset can leave homeowners overwhelmed. Make sure your home and its contents are well protected with proper homeowners’ insurance. A comprehensive homeowners policy provides utmost protection against possible cause of a loss.
There are different policies that provide varying coverages based on your needs and the characteristics of the home.
There are three main components to a homeowner’s policy: the liability coverage, protection for the dwelling, and coverage for your contents.
Liability coverage protects you in the occurrence of unintentional bodily injury to others or damage to their property. For example, if a visitor slips in your bathroom or on your property and you are found legally responsible, your liability coverage would cover for such occurrence loss exposure.
The dwelling portion of your policy covers the actual building you live in. There are a myriad of different events and occurrences that can lead to possible losses, including:
The contents portion of your policy covers your personal possessions ranging from furniture and appliances to bicycles, equipment, and toys. As a homeowner, you should maintain an inventory of your personal belongings at least once a year as we keep collecting stuff all our lifetime.
Just like auto insurance, home insurance premiums are determined by various factors including
While we all want to keep our insurance costs low, it equally important that you ensure proper insurance coverage limits to provide utmost protection to your dwelling, contents and liability exposure. When it comes to dwelling, your policy limits should be based on replacement cost as of today for like kind of material and type of construction. If the dwelling is under insured, it may expose you for the shortfall.
Our Licensed Broker would assist you in shopping around coverage that your home needs at the most competitive price to provide best value for the premium. To arrive at replacement cost of the property for like kind of material and type of construction or upgrades, you would be required to provide your property information with regard to
There are various discounts that may be applicable to a homeowner’s policy. We recommend you talking to our Licensed Insurance Broker who would guide apply discounts that you could be eligible for. Such as,
Aside from the standard coverages included in a homeowner’s policy, here are some additional coverages that you should consider adding.
Choosing the right coverage sat lowest premium can seem like a tough task. Speak to our licensed broker. We deal with all leading Canadian Insurance providers. We will guide you through entire process, ease the stress of obtaining a homeowner’s policy while ensuring that you get expert advice and coverages your home deserves. We are here to help and commit best in class service experience.