Did you know…
If you leave your home for 96 hours (four days) you must have the home checked daily to maintain the heat or you lose water damage coverage caused by freezing of plumbing?
Flood is not covered by your home insurance. You can purchase coverage for sewer backup, a specific type of basement flooding. If you think you have it, check your policy for “water escape” a specific limit will apply that typically starts at $5,000.
Have you checked your jewelry?
Many homeowners add coverage to the policy, and then leave the limit unchanged for 10 years. The amount listed for an item is all that the insurance company will pay. Get appraisals regularly.
Did you consider bylaws coverage?
No policy will pay for the increase in a claim caused by the application of a bylaw. A smart policy holder who bought this extension saved $10,000 when a municipality mandated he replace the post and pad foundation with a concrete pony wall after his cottage burned down!
Did you document your property?
Less than one third of all Canadian policy holders have done household inventories or even photo surveys of their home. Actual loss experiences prove that proactive policy holders have overwhelmingly more satisfactory claims experiences than unprepared homeowners!