In our industry a person has a choice between a Broad or Comprehensive Form. The Broad form covers the building for direct physical loss or damage however caused but on the property side only specific perils.
Of course there are always exclusions listed in the policy wordings you need to familiarize yourself with. Whereas the comprehensive form covers both building and personal property for direct physical loss or damage as well as exclusions listed in the wordings.
Both policies come with deductibles which you can choose from $500.00 or as high as $5000.00. The greater the deductible the greater the savings to you the consumer.
All home owners and tenants face the hazard of becoming legally liable to pay restitution to others for accidental damage done to their property and/or accidental injury caused to others.
When an accident happens such as a fire to your home, it could spread to cause severe damage to your neighbor’s home. A tenant who causes an accidental fire, such as a grease fire on the stove while cooking, and the fire destroys the entire rental complex could be found negligent and held to pay restitution to the landlord for destroying his building.
The homeowners and tenants insurance policy does provide for your legal liability for accidental damage you or your family has accidentally caused to someone else’s property.
In instances where there has been accidental injury caused to others, your policy will also reimburse for the damages awarded to the injured person(s) accidentally caused by you. For example, the injury could be someone slipping and falling on an ice build up on a sidewalk, tripping and falling down a stairwell or slipping and falling against a hot barbecue.
The liability insurance section of your coverage also extends to cover the cost of legal defense on any action brought against you.
The liability insurance under the home owners and tenants insurance policy could eliminate complete financial hardship or even bankruptcy.
SEASONALS: These can also be covered, but ask us about the perils insured as they can be very restricted.
BOATERS: REMINDER that powered pleasure craft operators are now required to be licenced. Refered to as the Pleasurecraft Operator Card. Avoid the fine of $250.00.
ATV, SNOWMOBILES: If you are traveling on crown land or crossing public highways check to see if you are required to carry legal liability.
MOTORCYCLES: We carry both Government and private markets - Ask us for details.
TRAVEL INSURANCE: Don’t leave home without it. Some extended medical plans limit the $ amount they will pay out while others will only pay out after all other policies have been exhausted.
WOOD STOVES: In many instances they need to be WETT Inspected to make sure they are not a safety hazard. Do you clean out your chimney every year? How much wood do you burn during the heating season? All can have an impact on your policy.
RENOVATING or PLANNING to build an extension? Beware, Insurance Companies need to be notified from day one.
LOG HOMES, HARD TO PLACE INSURANCE, HIGH VALUED HOMES, HOME BASED BUSINESSES, HOBBY FARMS.
Give us a call.
Ask us about DISCOUNTS available such as being Claims Free for 3 years, Monitored or Local Burglar and Fire alarms, Mortgage free, Seniors or Mature discount, Sprinklers, New home or Factory double wide units.