Home Insurance

What Home Insurance Do I Need?


Here is a list of the things that should be insured.

1. Your home and other buildings to protect against fire, wind, hail, water damage

2. Contents should be insured for theft or damage including furniture, clothing, equipment, computers, jewelry,

3. Liability due to personal injury of some one while on your property. An accident could result in medical payments or a lawsuit.

4. Personal floater can be added for extra insurance for things like art work, collections, large amount of jewelry. Of course, there will be an extra premium to pay.

5. Deductible: the higher the deductible, say $1000 instead of $500, the lower the premium you will pay.


Tips on How to Save on Insurance Premiums


1. Live in a low crime rate neighborhood. Some communities publish the crime rates for different neighborhoods.

2. Live close to a fire hydrant or fire station.

3. Do not heat with oil or a wood stove.

4. Replace electrical fuses in the electrical panel with breakers.

5. Have the roof inspected and reshingle sooner rather than later.

6.Install a security system, smoke detectors.

7. A swimming pool can be used as a source of water by the fire department in case of a fire.
Insuring Your Mortgage


There are two ways of insuring your mortgage:

1. Mortgage home insurance, a flat rate depending on the amount of the loan from the bank. The death benefit ends when the mortgage is paid off.

2. Term life insurance cost depends on age and smoking or non-smoking. It can be cheaper and there is a death benefit for the full term of the term insurance. Some term lifew insurance policies can be converted to a full life insurance policy


Other Insurance

Protecting your home also includes protecting all income from loss due to possible lawsuits. You need income to pay for that mortgage!

1. Automobile insurance to protect against collision damage, theft, comprehensive includes windshield breakage, fire, liability, loss of use with car rental, the greater the deductible the lower the premium you pay.

2. Business insurance to protect for damage, loss or theft of equipment and furniture, loss of business income and liability.

Insurance Brokers

An insurance broker will find the best insurance coverage at the lowest cost.

Remember the more insurance you have the more you will pay.Ask the questions: Do I really need this much insurance? How much loss can I afford to pay for myself?

Insurance Bureau of Canada (IBC) can answer any questions concerning insurance in Canada and direct you to contacts in your area.

Go from home insurance to Home Page

Buy a Home Guide