Ensure you have protection — and peace of mind Assets your COVER
HOME INSURANCE
By Geoff Kirbyson
>> IT’S THE BIGGEST INVESTMENT you’ll ever make, so why wouldn’t you protect your home with the best insurance coverage possible? Whether you’re buying home insurance for the first time, or updating an existing policy, ensuring you have full protection for your house and all your valuables can save you a bundle in case of fire, flood and other calamities. Ask your broker about all the options that may be available to you. Whatever your budget, you simply cannot put a price on peace of mind. There are different kinds of insurance packages available for houses and condos, and you’ll need to know the difference between “broad” and “comprehensive” packages in order to be able to decide on the right amount of protection for your home and belongings.
Both broad and comprehensive package policies provide protection for your house as well as coverage for loss or damage to your belongings inside. With broad coverage, however, the damage or loss to your belongings is only covered if it results from a predetermined list of causes, known in the industry as “named perils.” Essentially, perils are what your policy insures against. Every home insurance policy includes the peril of fire, and common perils include wind, hail, water damage and theft. Sometimes geography plays a role in the perils you may want your plan to cover. For example, living in Manitoba, earthquake coverage isn’t something most people would consider compared to friends on the west coast.
114 Parade of Homes fall 2019
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