Starter Guide to Home Insurance
Sudbury, like other areas of Ontario is an area that has frequent flood problems and homeowners should make sure they are adequately insurance. However, in most cases customers do not properly understand what home insurance is and how they can get it.
Here at Sudbury Insurance Brokers, we are specialists in home insurance and have a wealth of experience in the industry. We can offer advice and find you the best home insurance policy for you, and at the best price for you.
However, before making any lasting decisions, it is always best to know exactly what you are doing and how you can get the best deal. Our back to basic home insurance guide arms you will everything you need to know before you start shopping for coverage.
Types of Home Insurance
Home insurance is typically split into two types of policy, which differ in how much they actually protect your property.
All-perils – This home insurance is the most common type of policy as it covers everything, all of your possessions and the house itself. Because a house is almost always the most valuable thing a person owns, making sure it is all covered is a wise choice.
Named-perils – This type of coverage is rare and allows the customer to select specific named items that will be covered by the policy. In the event of damage or theft to the entire property, only the items named will be claimable.
For valuable household items some consumers may choose to take out a named peril policy alongside all-perils coverage. However, for goods of extreme value (fine art for example), more dedicated individual specialist insurance is needed and providers will not cover those items in a home insurance policy.
Flood coverage – While flood protection insurance is hot home insurance per se, it is associated as it protect the home from damage. Most insurance providers offer sewer back-up coverage and there is a grey area about whether this includes overland flooding (it doesn’t in the policy, but companies pay out claims frequently).
Providers are now starting to offer specific overland flooding coverage, but only a select few companies (Aviva, RSA, and The Co-Operators) currently have products.
Getting the Best Deal
Getting the best deal will depend on your circumstance, but in most cases it means getting the best policy you can for what you can afford. There are ways you can ensure value for money, and luckily the tips are very easy.
Shop around – Simply put, if you shop around extensively you are going to learn a lot. You will know what a policy offers and what price you can expect to pay to meet your needs. Looking at as many providers as possible will also mean you can find the best deal.
Sudbury Insurance Brokers are experts in finding clients the best deal with the absolute best policy they can get for their money. Our online quote engine will give you near instant results from the leading insurance companies in Ontario.
Ask for a discount – Is it cheek? You bet, but you never know until you try.
Bundle policies – Bundled policies can result in savings of up to 15%, and the most common bundle is a home insurance combined with auto insurance, something that is offered by most major insurers in Canada.
