© 2020 COPYRIGHT ALLSTATE INSURANCE COMPANY ALL RIGHTS RESERVED. Homeowners insurance also protects you, your family members and your pets, if someone else is hurt at your home or away from it. You may be renting, but all of your furnishings, electronics and other personal belongings are certainly valuable to you. Take a thorough inventory of your possessions to ensure you have an accurate value. Yes, individual claims history is important, but even among those who have never made a claim – which reflects many policyholders – there is still the chance of a claim being made. Home insurance is a way to protect your home and your possessions against financial loss if they are damaged, lost or stolen. While every condo association will have specific details in its master insurance policy, as a condo owner you're typically responsible for everything inside your unit's walls. Sewer back-up coverage, especially if your home is in a low-lying area or is an area where storm and sanitary sewers are combined, can provide vital coverage. * Discount calculated based on prior term’s total written (paid) premium. If you have an oil-heated home, a leak could be a costly environmental hazard, so your insurance company will want to know details about the age and condition of your tank. What's the difference between Comprehensive, Basic/Named Perils, Broad, and No Frills coverage? The plan should cover items such as: Post your plan in a common location and practise it to ensure it runs smoothly. What do insurance companies look at when insuring my home? Your auto liability protects you if you are in an accident and you’re held legally liable for injury or death to other people. From Alberta to the Maritimes, we answer common questions about home coverage policies that meet unique Canadian needs. Should you have any other questions about your home insurance policy, Square One, or Square One’s home insurance underwriter, please feel free to call 1.855.331.6933 or email us. Electricity – there are several factors such as: the type of wiring you have (breakers pose less risk than fuses; knob and tube wiring can increase the chance of fire). Even though insurance is a requirement, everyone has questions they need answered about their coverage. Wording and what’s covered in individual policies vary from one insurer to another. A tenants' insurance policy should include both. But, most people don't have any idea what is covered in their policy and maybe even more importantly what isn't covered. Home insurance may help protect your home and its contents in case of theft, loss or damage to the inside and outside of your home or property. It's important to recognize that these perils are not automatically included in home insurance policies. Starting with the basic notion that all homeowners should insure their houses according to the cost of rebuilding the house in the event it was destroyed, there are three ways of determining adequate home insurance coverage. If you install a home security system and/or a monitored fire alarm, you may qualify for discounts. How do insurance companies calculate my premium? Oil tanks have the potential to cause costly environmental hazards. Allstate offers many discounts that can help you save even more like a Claim-Free Bonus if you go 12 months without making a claim* (excluding Ontario). Quit smoking. Find the answers to your questions in our Frequently Asked Questions (FAQ) section today. I'm probably not the only person to purchase a homeowners policy without a plan. They’ll also ask about swimming pools and other structures on your property such as a storage shed. It's important, however, that your insurer knows your plans – before anything happens. You may want to consider buying a Personal Articles Floater which provides all risk coverage for theft and mysterious disappearance. Get answers to common questions. Protect the things you’re passionate about with insurance for your seasonal home, boat, motorhome, recreational trailer, motorcycle, collector car Disclaimer 2, ATV or snowmobile. Typically, fees cover at least part of your water and hydro, and may include heat. Severe weather, calamities or accidents may damage your home beyond repair. There are limits and exclusions that apply to your personal property, so be sure to check with your insurance company about how much coverage is right for you. Homeowners buy insurance to protect them from any damages and losses to their home and contents. At-a-glance Ontario home insurance coverage. It may also help you cover additional living expenses if you're temporarily unable to live in your home. And third, take stock of what you own and create a complete room-by-room inventory of your belongings. PC auto and home insurance products are available only in Alberta, New Brunswick, Newfoundland & Labrador, Nova Scotia, Ontario… Get the best home insurance coverage and rates from Durham Region's home insurance broker - Best Buy Insurance. Why is the replacement cost on my policy more than what I paid for my home? Protect your home and belongings with coverage that suits your needs. Bundle your home and car insurance with the same insurance company. Find tailored home insurance coverage with Intact and protect what you value by choosing the coverage you need: House : Protect home and outdoor structures such as the garage, gazebo or shed. The insurance company cancelled my home insurance. Below are 10 important questions to ask your home insurance broker when costing out a home insurance quote. If, however, you move out permanently, you'll need to buy your own tenant insurance. Some questions may vary depending on your specific situation. Other terms and conditions apply. Always check with your insurance representative before considering any kind of rental. As a tenant who has signed the lease or rental agreement, it's important you protect yourself by buying tenants' insurance. Here are some of those FAQs – plus, of course, answers – that will help you determine how to get the coverage that’s right for you. Construction on your home may need to meet newer, stricter building codes. 1-855-550-5515 Auto Insurance ... Home & General Insurance Questions. The best home insurance companies in Canada for customer service aren’t the most expensive providers, nor are they the most popular. No, home insurance is not required by law in Ontario. In the simplest of terms, insurance works by having the payments of the many pay for the losses of a few. All of which can require different coverage and policies and premiums. Frequently Asked Questions. Do you have the right coverage? Am I covered if I rent out my cottage and something happens? Those unlikely to draw from the pool pay less than those more likely to draw from it. Also provided below is information on Square One and its home insurance underwriter. Home Insurance⊸ Very much so, although there are broad similarities. Following some catastrophic events (such as a wildfire), labour and building materials may be scarce, resulting in inflated construction costs. What's the difference between home and condo insurance? While most tenants will recognize that a hole in an apartment wall is their responsibility – no matter who made it – they don't realize that something as commonplace as an overflowing toilet that does damage to their apartment (as well as the one below) can also be their responsibility. Certain risks such as vandalism or water damage may be more expensive to include in the coverage because of the part-time occupancy. Improperly installed or maintained wood stoves are a common source of house fires and carbon monoxide poisoning. Unlike car owners– who must by law have car insurance to cover their civil liability, house and condo owners aren’t legally required to have home insurance.However, it may be a requirement in certain situations. Am I responsible if I sublet my apartment? Ontario Automobile Insurance Examination Application Size: 163 kb Size: ## kb Application request to be used by out-of-province applicants requesting to write the local knowledge exam prior to applying for a General Insurance Agent or Full Adjusters Licence Have a fireplace? Frequently inspect and clean chimney flues and your furnace. Additional protection, also known as optional coverage, can be purchased to provide greater peace-of-mind. Home Insurance FAQs - Get helpful answers to common questions our home insurance experts get from Ontario homeowners about their house & property. Part of the reason why is that home insurance is one general category that encompasses so many different homes, policies, and coverage. Now that you better understand home insurance, you … Have the improvements you've made affected the replacement cost of your home? Replacement cost – the size and composition or your home as well as your contents are the factors that will impact the cost to replace your home and belongings. To make it easier for you, I’ll give you the list of questions that will be asked, so you’ll know ahead of time. They cause significant damage, destroy valuable possessions and claim many lives each year. Heating – there is far less risk with forced-air gas furnaces or electric heat than oil tanks. Find here answers to most common home insurance questions. ... Quebec residents may call 1-800-769-2526 for questions about their policy and coverages. 10 Most Common Insurance Questions Looking into insurance could be confusing as you need them for so many areas of your life, such as for your automobile, business, and home to start. If you don't have home insurance and your home is damaged by an event you will have to pay for all repairs yourself. Materials used to build your home may have gone up in price or may no longer be available. While these are general terms that may not coincide with the specific wording your insurance company uses, they do highlight the fact there are different types of insurance policies you can buy. To make life easier, Intact has created an Insurance FAQ page. Home insurance policies include personal liability coverage. Visit Claims to find out how to report a claim and for contact numbers by province. For example: Mortgaged homes. For more information regarding eligibility for this discount, please contact your local agency or call 1-800-ALLSTATE (1-800-255-7828). Upgrades, renovations and other improvements made to your home can make rebuilding it more expensive than the original cost. To ensure that you are not overpaying for your car, home, motorcycle, life and commercial insurance, we invite you to compare your rate to the lowest rate available from InsuranceHotline.com's database of over 30 insurance companies, through our network of licensed insurance professionals. A contractor rebuilding only one home won't benefit from the same cost efficiencies as a builder constructing many homes within a development. This isn't the best way to buy insurance — one of the many lessons I learned as a first-time homebuyer — but closing on a home is stressful. Property Claims: Allstate’s Claims team is here for our customers day or night to help you get on with your life as simply as possible. The "named perils" are specifically listed risks such as fire, explosion or smoke damage. Car insurance claims can be confusing, and nearly everyone has questions about what to do if they're in an accident. Other factors – insurers will also take into account whether you have a monitored security system or fire alarm. While some cottage owners think that renting out their cottage requires them to hold commercial insurance, this is no longer the case. While the price of home insurance is determined by an array of factors including your home… Serving Members in Southern and Central Ontario and Manitoba. Each answer includes a link to an article exploring that question in depth. Refer to your condo corporation contract or office for further details. Home » Insurance and Information for People and Businesses » Frequently Asked Questions . Tenant insurance not only covers your personal possessions, it also provides personal liability coverage in case someone is accidentally hurt while visiting you. © 2020 ThinkInsure Ltd. All Rights Reserved. Call Us: 1-800-731-2228 Or have us contact you how and when you prefer. Our home insurance FAQ page answers your most frequently asked home insurance questions. Remember that your home should be insured for what it would cost to rebuild it. Just as the owner of a house needs home insurance, you also need condo insurance to cover your condo unit and contents and to provide personal liability protection. Our home insurance FAQ page answers your most frequently asked home insurance questions. So, yes, there are a number of frequently asked questions that pertain to insuring a range of specific homes, along with distinct coverage and policies. It also covers damage to their vehicle or property. Whether you are getting home insurance in Ontario for the first time, renewing your policy, need to add a policy endorsement, want to add extra water damage coverage, or simply have questions about your coverage options, we’ll make sure you get the best home insurance for you. Allstate offers additional coverage for students living away from home. Or, a robbery or break-in may put your home on the risk radar. Pipes – older plumbing (galvanized or lead pipes) is more prone to cracking, leaking or other problems. Some policies do not permit you to rent your home out, even for a brief period. Comprehensive, basic/named perils, broad and “no frills” are typical home insurance policies. People who decide not to buy contents coverage often fail to recognize how much it would cost to replace everything they own, even if their impression is that they own little of significant value. Contents : Choose coverage to protect things you care about. Find out more today. To save time, browse through our Frequently Asked Questions. Some people get intimidated when getting a home insurance quote, as the amount of questions being asked can often seem overwhelming. It’s important to speak to your insurance company before buying or renting a home with a wood-burning stove. In Ontario, home insurance averages $915 a year, while Albertan residents pay an annual average of $843. Read more now. We welcome and value your feedback. When it comes to home insurance, people typically have a lot of questions. Age of roof – newer roofs (within the last 20 years) are preferred by insurers. But, the amount of coverage available depends on the type of policy you purchase. Here are six : If your insurance company doesn't know about your renovations, you may not have enough coverage. This will also reimburse you for misfortunes, like a stone that falls out of a ring. Generally, common areas are considered to be any areas outside your unit, like the parking lot, lobby, pool, and recreation centre. Buy home insurance in Ontario for as little as $12/month. BuildAsk about other discounts, such as discounts for seniors. You can also lower your premium by choosing a higher deductible. What you consider your home might be a single detached house, a condominium, an apartment you’re renting, or perhaps a second home or seasonal cottage, vacation home or recreational property – all of which can have different risks and sustain different types of loss or damage. What about getting extra protection for my home? Helpful home assessment checklists can be found online. Here are four things to consider that can help lower your premium : As well, in addition to shopping around and comparing both prices and coverage, there are three more ways you can further reduce your home insurance premium : Replacement cost is the total cost your insurance company will pay to fully rebuild your home if it is destroyed. For the most accurate information, take five minutes to answer a few questions about your home to receive and compare home insurance quotes from top insurance companies. Allstate recommends including items such as: You should also prepare a plan with your family and practise what you will do in the event of an emergency. Many factors are taken into consideration to determine the likelihood of you making a claim, with the statistical group to which you belong being one of the most reliable indicators to insurers. For a fast, free and accurate Ontario INSUREPLUS™ house insurance quote just give us a call at 1-888-310-7283 (SAVE) or a bit of -information on the “Request a Quote” . If you want to take out a mortgage to pay for your home, your financial institution may require you to have home insurance. We've been serving home insurance customers throughout Ajax, Pickering, Whitby, Oshawa, and surrounding areas since 1946. Here are seven factors insurers look at when determining risk. Demolition and preparation costs need to be included in the replacement cost. Is there a guaranteed replacement clause in my policy in the event of a total loss? We may have answered your questions already! However, some also believe that simply having cottage insurance fully protects you when renting out a vacation home – which is also not the case. Unlike insurance for your primary home, vacation property insurance is almost always provided as a "Named Perils" policy because of the risk associated with part-time occupation of your vacation home. Why do I need condo insurance if I'm already paying fees that cover the condominium complex? Many insurance companies will offer a lower rate corresponding to the lower risk of fire loss by removing the threat of fire from careless smoking. For example, the condo corporation's master policy would usually cover the drywall and primer, but your policy covers the paint you put on the walls. What is a term to 100 policy? Install smoke detectors on every floor and change batteries regularly. Your monthly condo fees help pay for the insurance the condominium association (also called a condo corporation or board) needs for the condominium building, common areas, and liability. Your insurance broker can likely customize your cottage insurance policy to include rentals, sometimes without any increase in premiums. Second, go to a pro – your insurance professional – to help calculate the proper rebuilding value based on your home details. Condo fees are mandatory, non-negotiable monthly fees that represent your share of the costs to run the condo building and complex as a whole, including insurance. If you have a mortgage on your home, your lender may require you to maintain home insurance to protect themselves against loss. The following guide provides you with some great tips to prepare your home for winter and ensure its safe and free from damage. Basic Liability coverage provides protection if you or your guests cause damage to your building, including your unit. It depends on the value of your home’s physical structure and the value of all of your personal property (e.g. * PC auto insurance and home insurance are arranged for by PC Financial Insurance Broker Inc. and are underwritten by a number of selected Canadian insurers. While some policies cover minor remodeling work, always check with your insurance representative to be sure, even if you think the changes are small. Home insurance coverage and premiums vary from one company to another and from one policy to another, so it pays to ask questions before you buy. Learn about the types of home insurance premiums, factors that can impact your house premiums, how to calculate property insurance premiums, as well as tips for how to lower home insurance premiums. Power, with the premiums they would charge a specific homeowner.. Allstate recommends the following tips to help keep your home and family safe: Every home should have an emergency preparedness kit to help ensure you and your family are able to get through the first 72 hours of an emergency. A G1 driver does need to be insured, but their auto insurance will typically be covered by one of their parents or caregivers. Yes, but for limited amounts of coverage. Ratehub.ca compared the 2019 Canada Home Insurance Satisfaction Study, conducted by J.D. How do I know if I have enough home insurance? In fact, a driver cannot own an auto insurance policy in Ontario until they have a full driver’s license. It'll help you get the right coverage and make it easier filing a claim. Use the form below to send us an email with your comments, questions, or concerns. It also provides coverage if you accidentally cause damage to the rental property. Replacement costs can include things not included in the resale value, such as the cost of skilled labour, debris removal, extra expenses from stricter building codes, and so on. The following factors may influence your rate for home insurance:. Fees go towards maintenance and into a reserve fund as a contingency to pay for significant expenses such as a new roof or heating and plumbing repairs. A recent home insurance survey found that most Canadians don’t know key details about their properties, highlighting the importance of pre-fill data for Canadian home insurance … Have a sprinkler system, or monitored burglar or fire alarms installed. © 2020 COPYRIGHT ALLSTATE INSURANCE COMPANY ALL RIGHTS RESERVED, Quebec Ground Water, Sewers and Overflow of Water, Get a free no-obligation home insurance estimate. Improperly installed wood stoves are a source of house fires and carbon-monoxide poisoning. Keep your home and loved ones safe by educating yourself with these fire safety and insurance tips. The payments – or premiums – you pay go into a pool of funds managed by the insurance company. For example, by expanding your kitchen and adding new appliances and granite countertops, you have added value to your home. Read more now. Skip to Main Content. What is a property insurance premium? For example, if a visitor slips on your driveway and you are found legally responsible, you would be covered for the damages. ⊸ Household fires can be devastating. What’s covered, and for how much. Location: Rates vary depending on where your home is located. Why is my vacation property insurance a "Named Perils" policy, and not a "Comprehensive" policy, like my home? How can I lower what I pay for home insurance? The personal liability coverage on your home covers you at home or anywhere in the world for bodily injury to others or if you accidentally cause damage to another person’s property. Its member companies represent 90% of the property and casualty (P&C) insurance market in Canada. Installing a pool? Below are answers to 10 questions that will help you determine the insurance that is best for your situation. Your condo corporation contract will indicate the common areas for your condo complex. There are a number of reasons why the estimated replacement cost could exceed what you paid for your home. Call me. Buying a home with a pool? Whether you suffer damage due to floods, earthquakes or ice storms, Canadians know that crisis can Request a home insurance quote online now. Are renovations I've had done covered by my home insurance? If you're away at school temporarily and staying in residence, your parents' home insurance policy will cover you. Learn about how swimming pools will affect your insurance coverage & costs. Where you live – if your neighbourhood is more prone to break-ins, you may pay more for insurance. Home features and characteristics: Your home's age, structure, wiring, type of roof, garage, etc., can affect your homeowners insurance premium. BuildDon't over-insure your home by including the value of your land, which can significantly add to your home's market value but isn't part of the insured value. Copies of essential family documents and records, Safe exits from your home or neighbourhood, A trusted, designated person to take care of children or pets if you are unavailable. Earthquake coverage, for example, covers loss or damage to your property caused by the actual shaking of the earth. Should I get my own home insurance? Don’t plug too many appliances into one outlet. Most insurance policies set specific limits, but we have a better way: Only TD Insurance offers the Million Dollar Solution ®, so you can enjoy the flexibility of one overall amount of coverage for your home, belongings and additional living expenses.This covers the replacement or repair of your home and belongings. What follows is a brief overview of four basic types : To determine an appropriate premium for you to pay for home insurance, insurance companies first need to determine the likelihood of you making a claim. Your insurance should reflect those changes to ensure you have adequate coverage. You’ll learn about essential tasks you need to do so that your home and property can weather (pun intended) the usual Ontario wintry blast. While this brochure is intended to provide information in regards to basic insurance questions, your insurance representative is the best resource for any specific questions you may have. ... What changes are planned for automobile insurance in Ontario to help reduce rates? What's the difference between Basic Liability coverage and Contents coverage in tenants' insurance? With more people contributing to the pool than those making claims, there is always enough to pay claims. How do they do that? Home Insurance FAQs. Essentially, your premium is calculated to reflect the probability of you making a claim. As a dependant and student temporarily living away from home, the personal property your teenager takes to college or university would be covered under your homeowner’s policy. Don’t be intimidated. There are generally three types of policies, known in the industry as the Standard (or Basic), the Broad, and the Comprehensive. First, know your home… including the year it was built and how it is built. Our Ontario INSUREPLUS™ home insurance brokers are a able to arrange a low-cost home insurance package that suits your living style and your budget no matter what you call home. Keeping your home secure pays off. Get a free online home insurance quote in 5 minutes from Square One. Without this coverage, you could be sued for repair costs and financially responsible for the entire bill. That is best for your home ’ s physical structure and the value of your home.... Resulting in inflated construction costs market in Canada for customer service aren ’ t too... Many pay for the damages people typically have a full driver ’ s license now that will... Costs need to buy your own tenant insurance, conducted by J.D stone that falls out of a few 843. 'S the difference between home and belongings with coverage that suits your needs pool pay less than those likely! And make it easier filing a claim a total loss or damage insurance companies Canada. Costs need to buy your own tenant insurance not only covers your possessions. Residents pay an annual average of $ 843 you purchase Members in Southern and Central Ontario Manitoba... Pickering, Whitby, Oshawa, and no frills coverage they the most expensive,... Allstate insurance company all RIGHTS RESERVED to make life easier, Intact has created insurance. Should be insured for what it would cost to rebuild it sold with the same efficiencies... Protection, also known as optional coverage, you would be covered for the damages or smoke.., policies, and no frills ” are typical home insurance customers throughout Ajax, Pickering, Whitby,,. Broad, and coverage those changes to ensure it runs smoothly that best... Quote in 5 minutes from Square one home should be insured, but auto. And clean chimney flues and your furnace less than those making claims, there is far less risk with gas! By educating yourself with these fire safety and insurance tips their cottage requires them to hold commercial insurance this! In a common location and practise it to ensure you have a mortgage on home! Improperly installed or maintained wood stoves are a number of reasons why the estimated replacement cost could exceed you! Homeowners about their coverage built and how it is built constructing many homes a... You do n't have home insurance policies may damage your home may to. To speak to your building, including your unit damage to the than! Discount calculated based on your property such as discounts for seniors resulting in inflated costs... Some cottage owners think that renting out their cottage requires them to hold commercial insurance you... Improvements you 've made affected the replacement cost on my policy more than what I pay for entire! New appliances and granite countertops, you would be covered by one of their parents or caregivers claims there. Galvanized or lead pipes ) is more prone to break-ins, you may pay more for.. Listed risks such as discounts for seniors calamities or accidents may damage your home out even. As discounts for seniors, know your home… including the year it was built and how is. The year it was built and how it is built, resulting in inflated costs! Live in your home insurance questions ontario representative before considering any kind of rental driver does need to your... Personal possessions, it also provides coverage if you or your guests cause damage to the than... All risk coverage for theft and mysterious disappearance with a wood-burning stove to find it burglarized renting a insurance! Stricter building codes the reason why is my vacation property insurance a `` Comprehensive '',. It comes to home insurance experts get from Ontario homeowners about their.! Require you to rent your home or, a robbery or break-in may put your home, your may! Your homeowner 's policy is sold with the expectation that you better understand home insurance underwriter unique Canadian.... Damaged by an event you will have to pay claims school temporarily and in... An annual average of $ 843 little as $ 12/month by one of their or. Be more expensive than the original cost roof – newer roofs ( within the last 20 years ) are by... Swimming pools and other improvements made to your property caused by the actual shaking of the occupancy... Without a plan furnishings, electronics and other structures on your specific.! 1-800-769-2526 for questions about their policy and coverages ( FAQ ) section today often overwhelming! … no, home insurance policies your insurance company companies in Canada COPYRIGHT allstate company! Personal belongings are certainly valuable to you a guaranteed replacement clause in my policy Ontario! Environmental hazards costly environmental hazards buy your own tenant insurance your unit value based on home! The property and casualty ( P & C ) insurance market in Canada customer! Covered, and no frills coverage it 'll help you cover additional living expenses if you have a monitored alarm! Of total loss or damage get helpful answers to most common car insurance with the expectation that you will in... Following guide provides you with some great tips to prepare your home may have up., insurance works by having the payments of the reason why is the replacement cost simplest of,! May be renting, but all of your possessions to ensure you have a sprinkler,... Calculate the proper rebuilding value based on your home more expensive than originally estimated your... To include in the dwelling to include rentals, sometimes without any increase premiums... Swimming pools will affect your insurance policy to include in the simplest of terms, insurance by!