Mandatory service contract?
by Melissa
Hello, I have purchased my first home, and my insurance broker told me that since the gas furnace I have is quite old that they require me to purchase a service contract for it. Can they actually require this of me? Old Furnace and InsuranceHi Melissa Some home insurance company's in Ontario would refuse to insure a home with an old furnace as there is an increased risk of claims. It seems that your insurer just wants to make sure that the furnace is well maintained. So it sounds like you have two options: get another insurer; or get the furnace on a maintenance contract.  Ask another question at House Insurance Questions and Answers Note: 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. 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. Make sure you review the "please read" page. OR visit Canada Home Insurance www.canada-insurance-source.com
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