insuranceBalancing your deductible against what you can pay, imagine,
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Balance your deductible against what you can pay

Most homeowner chose to decrease their deductible to reduce insurance premium. This is the most common method to 'self insured' as any lose in building, stolen laptop computer or etc, the insured is responsible for the deductible amount.

So in most case, if a homeowner lose a laptop that  worth a thousand dollar and the deductible is a thousand, the claim will result in nothing. Choosing a deductible amount is a bit of a guessing game. Too low, and the annual premiums look scary. Too high and every potential problem could cost more than it would without going through your insurance. Start with what you can afford and adjusting at least once every year or two.

Most homeowner insurance in the Canadian market is a combination of the following insurance types

  • Liability Insurance
  • The buildings, 
  • Contents 
  • loss of use (additional living expenses), 
  • or loss of other personal possessions 

Most importantly, the homeowner insurance provides some financial relief against disasters. 

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construction insurance typesBuilder's Risk insurance a form of insurance that covers a building where the building or insured area is presently being constructed. It can cover just the structure, or also the materials on-site waiting to be installed or transported to the job site and is a type of insurance that most owners will ask every contractor to carry.
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