About Home Insurance

Home insurance provides protection against loss or damage to your home and personal belongings. It may also protect your assets against financial loss in the event of a lawsuit against you. For example, if someone is injured in your home, your home insurance, which includes liability protection provides you with legal defence in the event of legal action brought against you as well as pay for court judgements or settlements, to your coverage limits.

Home insurance is available for homeowners, condominium owners, and tenants and is tailored to the unique needs of each. Home insurance coverage should begin as soon as you become the legal owner or tenant.

• Homeowners - If you are a homeowner, you require coverage for your home, garage, other structures on your property and the personal possessions in your home, such as furniture, appliances, and clothing.
• Condominium owners - If you are a condominium owner, you require coverage for your unit and personal possessions such as furniture, appliances, and clothing. This also covers common areas, such as hallways (if the condominium corporation has no insurance or it is inadequate) or improvements to your unit.
• Tenants/Renters - If you are a tenant or renter, you require coverage for your personal possessions.
• Homeowners/Condominium owners/Tenants - Regardless of the type of policy you require on your property, Personal Liability coverage is available for your legal liability for any bodily injury or property damage that you might unintentionally cause to others. All package policies include liability.

Home insurance is also available for:

• Cottages, seasonal homes
• Rentals
• Secondary homes

While we offer a variety of policies for each type of occupancy, we recommend:

• Homeowners Comprehensive Form - This type of policy provides "all risks" coverage on your home, any outbuildings such as a garage and your personal possessions.
• Condominium Unit Owners Comprehensive Form - This type of policy provides "all risks" coverage for your personal possessions, improvements and betterments, unit assessment and your unit.
• Tenants Comprehensive Form - This type of policy provides "all risks" coverage for personal possessions.

"All risks" covers all loss or damage except for those specifically excluded by the policy. This is the broadest coverage that is available.

What's typically excluded? Your home insurance is not a maintenance contract. Nor does it cover damage caused by floodwater resulting, for example, from an overflowing creek, seepage through a cracked basement wall, malfunctioning sump pumps, leaky gutters, sewer back-up, or damage caused by snow slide or landslide. As well, insect or rodent damage is not insurable, nor is damage caused by the intended application of heat. For example, clothing that has been scorched by your iron. Some of these excluded damages, e.g. sewer back-up, may be purchased separately.

Recommended optional coverages:

A rider is a recommended optional coverage that can be added to your policy. Riders are quite specific, but are available for a variety of situations to address your needs. For example:

• A Sewer Back-up Rider broadens the water damage cover to include the rupture, bursting, back-up, or escape of water from a sewer, sump, or septic tank.
• Personal Articles Endorsement covers individual, valuable items, such as jewellery, furs, cameras, coin, or stamp collections beyond the special limits of your policy.
• Fine Arts Rider provides specifically designed coverage for your valuable paintings or antiques.
• Personal Umbrella Rider provides excess legal liability coverage above the limits of your policy. For example, if your policy has a limit of $1,000,000 and is exhausted by a claim, the umbrella will pay the excess of the judgment or claims settlement above $1,000,000 up to the limit of the umbrella rider.
• Boat and Motor Rider provides additional coverage for your boat and its motor.
• Fuel Escape Rider provides coverage in the event of fuel escape damage to your home or personal possessions.
• Home Based Business Rider covers damages to your business contents and legal liability associated with your business.