Porch pirates are the scourge of unsuspecting neighborhoods.
It only takes a few seconds for a thief to snatch a package from in front of your house. Porch piracy is a crime of opportunity and is on the rise. A 2019 FedEx survey indicated that one in three Alberta homeowners had at least one package stolen.
Home Insurance isn't a maintenance plan.
Often we have been asked what does home insurance covers. The answer is direct. It is to cover damage that is sudden and accidental.
Home maintenance really matters
Insurance companies want to make sure your property is in good shape, so deferred maintenance doesn't make your home unsafe or more vulnerable. Additionally, if they find that damage occurred because you neglected to maintain your home, they can deny a claim.
How do you know how much home insurance you need?
Nobody enjoys dealing with insurance. So when purchasing homeowner’s insurance, it’s tempting to cheat yourself by estimating low, particularly since prices have gone up in our region by 13% since 2016. Luckily, home insurance premiums in the Quebec region are the lowest in the country at an average of $960. When calculating what you need, make sure you have enough coverage not only to rebuild your home but to replace all your belongings.
You need to create a home inventory list
If there's a disaster, you don't need to have a claim denied as you do not have adequate records to prove things you possess. Always keep a record of what you own, with a home inventory list of what you have, what you paid for or their appraised value, and store it in a safe place or online.
Market value vs. rebuild cost can differ
When buying from an insurance broker asking cost for home insurance, there is usually a question on house replacement costs insurance based on. It is not generally that the replacement cost insurance value was higher than the house's market value in many cases. The client often has to argue with the insurance broker that it doesn't make sense that the cost to rebuild or the replacement cost insurance value is more than a home's market value.
The little things matter.
Ask yourself questions like these.
- Do you live in a rural area?
- Is the nearest fire hall a long distance away?
- Does your neighbourhood experience high rates of crime?
- Do you have a wood-burning stove?
There's a deadline to make a claim
Having a policy on the personal insurance market, you may need to file a claim for insurance when there is significant damage to your property, don't wait too long. Most insurance companies' have on the personal insurance policies a 14-day reporting window to ensure that damage doesn't worsen over time before submitting a claim for insurance.
Your credit score can affect home insurance premium
When comparing rates for the personal insurance on property, you might think the build, location, and contents will determine the quote for house insurance. These are essential factors, but there are more. A good credit score is vital to having a lower insurance rate.