Oakville Home Insurance
Home Insurance Details
Home insurance policies are different, so it’s important to know what your policy specifically covers and what it doesn’t. Generally, it covers wind and hail damage, theft, broken windows, fire and lightning damage, and smoke damage. You may have to purchase an extra policy for earthquake and flood damage.
In addition, home insurance in Oakville, ON will typically cover your personal belongings, such as appliances, furniture and electronics. If you need to relocate after a fire or storm damage, many policies will provide additional living expenses. Your home insurance should also provide personal liability, in case someone gets hurt on your property.
Home insurance isn’t required by law, but most mortgage companies require you to have a policy. If you’re purchasing home insurance as part of your bank loan, check to make sure that you’re getting the appropriate coverage. You have these options:
- Comprehensive - this type of insurance is the most extensive policy. Your home’s structure and contents are covered from most perils and losses, expect any exclusions on your policy. It’s also the most expensive insurance.
- Basic or Named Perils - as the name implies, this policy covers your home and personal property for specific named perils.
- Broad - this policy is a good middle ground between basic and comprehensive insurance. Your home is insured for physical damage and loss, except for any named exclusions. Personal property is only protected against named perils.
- No Frills - basic coverage for your home, but it most likely won’t meet the underwriting standards.
Everyone wants to save money wherever they can. We can help you find discounts and identify the most competitive home insurance in Oakville, ON. Here are some things that can help you save money on your home insurance:
- Installing safety and security devices, such as smoke detectors and alarms
- Having membership in certain organizations or being an alumnus of a certain university
- Bundling insurance policies with the same insurer, home, auto, life etc.
- Increasing your deductible
- Senior citizens may get a discount
- Not making an insurance claim
Make Sure You Have Enough Coverage
Have peace of mind knowing you have comprehensive home insurance in Oakville, ON to protect your property and its contents. Contact Hub International for a quote to cover your home today.