Home, Tenant & Condo
Why Choose Us?
Your home is your most valuable asset, a safe place where you feel most comfortable and relaxed. When disaster hits, it can be extremely stressful; your entire life is turned upside down. With over 100 years of experience serving Bowmanville and the surrounding areas, our brokers help you make the right choices, so you will have the right coverage when you need it.
What Does Home, Tenant & Condo Insurance Cover?
If you are a home or condo owner then you will want to ensure you protect your investment and the place you spend a lot of time every day. It is important to know that the coverage can vary drastically depending on which insurance company you choose, so it is important to choose the right coverage to fit your situation. We will explain the differences in coverage in simple terms, so you can make informed choices to protect one of your most valuable assets.
This protects all your belongings such as your clothes, furniture, fridge, stove, electronics etc. Most policies will pay for the cost to replace them at today’s value. The cost to replace everything in your home is often higher than all of us think as we slowly accumulate things over time.
If your home burns down to the ground, where will you live? This is the part of the policy which provides you a place to live while your home is being repaired or rebuilt. It could be a hotel, rented house, condo or even with a family member – there are many options to keep you comfortable until your house is ready for you.
If you accidentally burned down your friends house, would you have enough money in your bank account to repay them? For the vast majority the answer would be a resounding NO, which is why your liability is included as part of your policy. Liability covers you and your family for your personal negligent actions. We all make mistakes, and this coverage ensures you do not go bankrupt because of them. Please ask us to further help you with this coverage, as it also has many other benefits.
Factors that Affect Your Home Insurance
The larger your house and the more contents you have will make your insurance higher than someone with a much smaller house or belongings.
Where you live plays a large role in how much your insurance will cost, and may limit the coverage available for you. Living next to a firehall means if you have a fire your house is much more likely to be saved during a fire.
Older homes that have not been updated tend to have many more claims, as older wiring, plumbing, heating and roofs slowly deteriorate over the course of their lifespans. As the deterioration occurs you are much more likely to have a leak from worn out plumbing, a fire from an older malfunctioning furnace, or shingles that fly off during a windstorm.
Insurance companies will offer much better rates the longer you have been insured and claims free. If you have multiple claims, payment issues, etc then your insurance will be more expensive.
Installing monitored alarms, sump pumps, tankless hot water systems, etc will provide you with additional discounts.
Please call our office for a quote or to ask us questions regarding the coverage. The explanations above are only a general overview and there are many options to fit your personal circumstances.