Canada Home Insurance policies come in many different forms for different
types of insurance needs. It is important to understand the basics of home insurance and the different insurance coverage’s available. Cheap home insurance may not be the only thing you want to consider. Having the right coverage in place can save you from financial devastation in the event of a fire or other large loss.
Some of the different forms of Canada Home Insurance coverage include:
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Why do I need a Home Insurance Inspection?
What about Home Insurance While Away
Each home insurance policy comes in different types comprehensive, broad and named perils). It is a good idea to understand the differences between the policy types when comparing different prices. Read Home Owners Insurance for an idea of the different coverage types available. The page is geared towards homeowners but the policy types are common to renters and condo insurance policies as well.
An important part of all Canadian home policies is liability insurance. Liability insurance is very important to have. Insurers also offer an additional policy called Umbrella Liability Insurance which goes over and above coverage contained in home and auto policies.
If you are one of the many home based businesses in Canada you needHome Business Insurance because it is excluded from your policy. Your coverage may be void without this coverage!
Home Contents Insurance is a part of any homeowners, renters insurance or condominium insurance policy.
Want great Home Insurance Rates? Read he home insurance rates page to understand how rates are calculated. This may help you save in the long run.
Note – if you want to save on your home insurance the best way is to combine your home and auto insurance
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The main purpose for purchasing a home insurance policy should be to protect your finances from the devastating impact from a disaster. Not for small losses (i.e. under $500 or $1000 or whatever you can afford to pay out of pocket without financial devastation). Because of this advice, it is unlikely that you will ever have a home insurance claim. But your policy will provide peace of mind that you should not go without.
NOTE: If you do not find what you are looking for here, you can ask a question about home insurance at House Insurance Questions and Answers
Note: Always speak with a licensed insurance professional about your specific situation. This insurance information is general in nature and the policy wordings always take precedence. It is possible that there are errors and omissions in this website and www.canada-insurance-source.com, or its authors, take no responsibility.
Keep in mind that insurance licensing, legislation, and policies often vary by province and most certainly by country. Canada Insurance Source is a free information source. So use this site to gain a general understanding of insurance with your own area and situation in mind. Make sure you review the "please read" page. Always speak with a licensed insurance professional about your specific situation.
Always speak with a licensed insurance representative about your specific situation.
This site is general in nature and there may be errors or ommissions