December 01 2017
Home insurance is required for most lenders in a home purchase. A basic home policy will cover you for loss or damage from a fire, vandalism, wind damage, and water damage. You’ll also be covered for personal liability – for example, if your child hits a baseball through your neighbour’s window, you’ll be covered.
You can add coverages based on your needs, where you live, and the property itself. You can add extra coverages like earthquake coverage if you live on a fault-line, or sewer backup and overland water coverages if you live in a flood-prone area. You can also add expensive or speciality items (like an engagement ring) onto your policy, as most home policies only cover your personal belongings up to a certain limit. These more expensive items will have a custom limit that you can set yourself.
If you currently have insurance (such as car insurance), contact your current insurance provider, as you may benefit from lower costs from having multiple policies with the same vendor. Otherwise, there are many providers that can be found online.
Our friends at Sonnet, Canada’s first fully-online insurance company, have made the insurance process easier than ever. You can get a quote and buySonnet home insurance entirely online. It takes around five minutes; they auto-fill information on your property, and provide you with three customizable quotes that you can choose from. Plus, their policies are easy to read – so you know exactly what you’re covered for.
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