Home Insurance

Home insurance will cover damages to your property, whether it be a home, an apartment, or condo you live in.  If you have a mortgage on your home, you need home insurance.

Insuring your home for its accurate rebuilding cost is critical. Along with the specific details on the construction type, Brokers will also calculate the cost to remove debris and rebuild your home based on the square footage and other variables including the current cost of labor and building supplies. Typically, Brokers are equipped with software to accurately determine the proper amount for which your home should be insured.

All policies have common exclusions and limitations such as war, nuclear hazard, and willful damage (to name a few). However the cheaper policies usually have more exclusions and will limit or cut coverages in areas where a loss is most likely to occur. A common exclusion on a cheaper policy would be to exclude electrical power surge to computers and appliances or limit jewelry coverage to $2,000 and cash to $200. A better policy will provide $6,000 for jewelry, $500 for cash, and include power surge. Contact one of our brokers for more information on exclusions and limitations.

Your insurer considers an unoccupied dwelling riskier than an occupied one. Depending on how long you are away from your home, you may need to make arrangements to ensure you are taking the precautionary steps outlined within your policy. During the heating season, the common things you need to consider are turning off your water and draining the pipes, keeping your heat turned up or having your dwelling checked regularly. In some circumstances, you may need to inform your insurer. If your home will be unoccupied, we recommend you speak with your broker about the specific requirements for your insurance company and policy.