Providing Home Insurance For All Alberta Residents
Home insurance is a complicated product and not something that should be purchased without advice from an experienced insurance professional. A homeowner insurance policy provides more than just coverage for the financial risk of damage to your home. A homeowner’s policy also provides coverage for the value of your personal possessions, additional living expenses if you are forced to move out of your home, and provides coverage for personal liability exposures that may arise from day to day living.
Insurers offer a wide variety of coverage options and coverage limitations. Our brokers are trained to help you navigate these variables to ensure you receive appropriate coverage at a competitive price. Whether your “home” is a Detached House, Townhouse, High Value Property, Vacation Home, or Rental Property we have the knowledge and resources to find the best protection for you and your family.
The biggest investment most people will ever make is in their home. That’s why it makes sense to protect the sizable financial investment you’ve made in your own home with a comprehensive homeowners plan.
The homeowner’s policy is a combination of property and liability coverage and is tailored to meet the needs of a homeowner. The following is a basic outline of the comprehensive homeowner’s policy and the endorsements most widely used on the comprehensive policy.
The comprehensive home policy provides coverage for dwellings that are owner occupied. The comprehensive policy provides coverage against risks of direct physical loss to the dwelling, detached structures, and personal property, except for those causes of loss that are specifically excluded such as flood.
The policy includes extra coverage for debris removal, fire department charges, property removal charges, and coverage for trees, shrubs and plants. Coverage is also included for loss involving credit cards, forgery, and counterfeit money. Each coverage has limitations and is subject to certain conditions.
What is homeowners insurance?
Homeowners insurance is a form of personal lines insurance. The typical homeowners policy has two main sections:
- Covers the property of the insured.
- Provides personal liability coverage to the insured.
What do I need to know when purchasing homeowners insurance?
- Get the amount and type of insurance that you need. We can help you with this part.
- Determine the amount of personal property insurance and personal liability coverage that you need.
- Select any additional endorsements you want to add to your policy. For example, do you require an increased limit of coverage for jewellery, or do you operate a home based business?
What is “actual cash value”?
When “actual cash value” is used in a policy, a policy owner is entitled to the depreciated value of the damaged property.
What is “actual cash value”?
When “replacement cost” coverage is used in a policy, a policy owner is reimbursed an amount necessary to replace the article with one of similar type and quality at current prices.
Should I purchase earthquake coverage?
Direct damages due to earthquakes are not covered under the standard homeowners insurance policy. If you live in an area that is prone to earthquakes, you may want to consider adding an earthquake endorsement to your homeowners insurance policy. This endorsement will cover damages due to earthquakes, landslides, volcanic eruptions and other earth movements.
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