Personal Insurance

What are some of the things to watch for with my home insurance?

As every policy is different, it’s important that you pay special attention to the exclusions and limitations.  For instance, if you have a completed basement, check to see if there is a limitation for sewer-backup or water damage.  Many insurers have limits that would make you under-insured in the event of a claim.

How can I save money on my auto insurance?

• The best way to ensure that you have the best rates are having a clean driving record.  Drive defensively and avoid traffic violations.
• Many insurers will provide substantial discounts for user-based insurance (Telematics)
• Increasing your deductibles does provide for lower premiums.
• Make sure you get all the discounts you qualify for.

What if I own a condo?

Whether you live in a condo or it’s an investment you need to have a Condo Unit owners policy. You will require additional coverage that a package policy provides such as the legislation that allows your condo corporation to assess the full amount of the Condo Association’s deductible in the event of a loss emanating from you unit.  That could be anywhere from $2500 to $250,000!

Are all policies covering rental property the same?

If you own one or two rental properties, your home insurer will normally add them to your home insurance policy.  However, if you are a serious investor with multiple policies, then you will probably require a commercial policy.  Coverage varies substantially from one insurer to the next and it’s a must that you understand what is covered.

• Is it replacement cost or actual cash value on the building and contents?
• Is damage caused by the tenants covered?
• Do you have rental income insurance?

These are just a few questions to ask.  For more information on rental insurance click here   https://heathercournoyer.ca/2018/10/23/top-10-questions-to-ask-when-buying-insurance-on-rental-property/

We can work with you to determine what coverage you need to protect your valuable personal assets.

Partner in Your Protection