Your dwelling and the Attached Structures
Homeowners insurance gives you coverage that protects almost everything, from roof to the foundation and almost everything inside the walls of your home. It also includes permanently installed outdoor equipment like children’s swings, lawn sprinkler systems and satellite TV dishes.
Detached Private Structures
This includes any structure or building separated from the dwelling by a clear space, and not included under the above.
Personal Property
Includes the things you and your family own, wear or use. These are things like clothing, furniture, electronics and appliances.
Additional Living Expense
Coverage for when the dwelling is damaged, and is unfit to live in or you need to move out temporarily while repairs are being made.
Liability Insurance
Helps protect your assets and cover your defense costs in the event of a lawsuit because you or your family members are responsible for causing damage to other people or their property.
Other types of Home Insurance
Condo Insurance
Your condo is a major personal investment, so it’s important that you have the right coverage. Whether your condo corporation carries no insurance, or the insurance carried is inadequate or not effective – you may need additional coverage. Your standard condo owners insurance covers:
- Your own personal property – This includes the things you yourself own, wear or use. These are things like your furniture, your clothes and shoes, and your TV.
- The immovable parts of your condo – This includes things that you own but can’t pack up and take with you when you move, like your countertop, your bathtub and sinks.
- Improvements you make – This includes anything you do to improve your condo, like laying new floors or renovating your kitchen.
Tenants Insurance
Tenants insurance is an often overlooked source of homeowners coverage, but it’s just as important. It also can include personal liability coverage, which covers accidental damage to property not owned by you or unintentional bodily injury to others.
- Your personal property – This includes the things you yourself own, wear or use regularly while you’re in your rented space. Things like your jewellery, your clothes and your shoes, and your electronics.
- Additional living expenses – You’re eligible for financial help if your apartment is considered unfit to live in or if you’re not allowed in because the police are doing an investigation. The total you’re eligible for is 30% of the value of your belongings.
We understand that insurance terms can sometimes be a bit confusing, so our licensed insurance brokers are standing by, ready to help. If you need a hand, please call us and we’ll answer your questions.
