If you have just bought your first house, chances are you’re overwhelmed right now. We want to make things easier for you so we created this short and sweet guide to protecting your new home.
Rita had been with her previous insurer for 15 years. During that time, she continued to renew her policy year after year and the conversation about her coverage didn’t extend much further than that. Everything changed when she went out to buy a new car. All of a sudden, she was new on the market and essentially a first time buyer again.
Insurance polices can be daunting – people often only refer to their coverage when there’s an accident or when personal property is stolen. Here are three common things that many people may not realize they have covered already with their property insurance:
While Mother Nature may not be directly plotting to drive your home insurance premiums up, the fluctuating weather patterns are certainly affecting your insurance policies in different ways:
Many Canadians are choosing to renovate their home rather than move. With the sky rocketing pricing in todays housing market, its no wonder people are choosing this route. Are you among the many who are planning on doing some home renovations of your own? If so, there are a few things you should make sure you inform your home insurance provider about before diving into major renovations.
Homeowners insurance is one of the best way of managing the risks involved in purchasing and owning a home. When you buy homeowners insurance, you transfer the potential risks, and costs of a loss, to the insurance company. While not mandatory by law, mortgage providers require insurance in order to protect their investment.
With the overwhelming amount of insurance options that our at our disposable, be it with products or providers, it’s hard to know whether you are making the “right” decision when purchasing insurance. Let me help you understand how a broker can assist you in this process.
We are in a day and age where we are getting more sewer backup and basement flood losses. No one wants damage in their basement, especially sewer water. Not only can it wreak chaos on your home and cause thousands of dollars of damaged furniture, floors and electrical malfunctions, it can also be a health hazard to you and your family.
Your home is more than just bricks and mortar, it’s a place of refuge, safety and your escape from the hustle and bustle of the everyday world. Home is where the things and people you love become the primary focus. At The Shepherd Group, we know how important your home is to you, and that’s why we go above and beyond to help our clients find insurance that will protect them and give them peace of mind.
How does Homeowners Insurance Protect me?
Fire, theft, damage from the elements like wind, rain and snow and accidents. . . these are the kinds of unfortunate events that could cause you to lose sleep at night. A homeowners policy will cover the damage to your home and contents should one of these events occur, thus making it easier for you to get that much needed rest! The personal liability portion of a homeowners policy provides coverage for personal injury to anyone on your property or visiting your home.
Each home insurance policy offers slightly different protection, however there are 3 standard types of policies as follows:
Comprehensive: This is the most inclusive policy as it covers both the building and the contents against “All Risks” except for what is specifically excluded on the policy.
Broad: This is similar to the comprehensive policy as it does provide coverage for “All Risks” however only on the building. The contents coverage is on a named perils basis and would only be covered against the risks that are listed on the policy.
Basic or Named Perils: As the name would suggest, this is a very basic policy and only provides coverage against risks that are specifically stated in the policy. Basically, if it’s not listed, it’s not covered. This type of policy can save you a bit more money on your premium, but offers much less coverage.
Any type of home insurance includes:
* Tenant Insurance
* Condo Insurance
* Rented Dwelling Insurance
* Seasonal Dwelling Insurance