Homeowners
There’s no place like home. So let us work to protect it.
As brokers, we work on behalf of our home insurance clients in analyzing their coverage needs and seeking the best possible coverage solutions from our wide range of insurer partners. That means it is our job not only to make sure you are protected, but also to explore the insurance market on your behalf to seek the best rates and options available.
Whether you are a first time purchaser, or an existing homeowner looking for alternatives to your current provider, we can assist with reviewing and proposing coverage options to meet your needs.
Our team will work with you to properly evaluate and set limits for replacement of your building and contents, schedule certain personal effects, and choose the correct coverage forms and deductibles to meet your needs.
Coverage Considerations
- Comprehensive vs. Broad Form – We would always recommend an All Risk or “Comprehensive” policy for home, tenant, or condo coverage. It provides the most expansive coverage for both building and contents. A “Broad Form” policy provides All Risk cover on building only, and more restrictive “Named Perils” coverage on contents.
- Guaranteed Replacement Cost – When arranging home insurance (including on rental homes or most seasonal policies) one of the first steps will be for our staff to work on a replacement cost evaluation to estimate the cost to rebuild, based on the location and specifications of your home. For most Homeowners policies in Canada, if insured to the proper Replacement Cost based on the evaluation, then you will have Guaranteed Replacement Cost included. This important safety net means the insurer will actually pay OVER the limit of insurance, if construction costs rise and replacement exceeds policy limits.
- Sewer Backup, Overland Water and Ground Water coverage – We will always review and discuss eligibility for these optional coverages which are advisable for most homes.
- Scheduled Jewellery, Fine Arts, and Collectibles – Certain types of personal property have sub-limits or maximums under a residential policy. Some for all types of loss, and others only if due to theft. These can be addressed by scheduling some of this property (typically the highest valued items) on your policy. Jewellery is probably the most common, but others examples are art, wine, sports memorabilia, or high valued bicycles.
- Home-Based Businesses – Your residential coverage will provide you with worldwide liability protection for your personal actions. But one thing it is not intended for is insuring against business operations. The same can be said of business-related contents. So it’s important to review and disclose any business operations taking place at your home. If you run a small home-based business, it may be eligible for a Home-Based Business package, which is a cost effective alternative to standalone commercial insurance coverage.