DID YOU KNOW?

You may need a Property Floater – Some personal property has special limits. Personal property coverage included in your home insurance often has limitations or exclusions for certain articles which may be more prone to loss or theft or it can be hard to determine a standard value in the event of a claim. This may mean you are underinsured on a particular item you value. This can be solved by adding a Floater to your policy which often has a lower deductible, proper limit of coverage pertaining to the item and broader coverage. Please give us a call if you are curious what it what cost to add a floater to your policy.

Typical Floater items include – Jewellery, furs, hearing aids, tools, money, paintings, fine arts, books, securities, garden type tractors and accessories, animals, birds or fish, watercraft, spare auto parts, numismatic property, philatelic property, bicycles and accessories, collectible cards, tapes, CDs and records.

Tenant Insurance – Tenant Insurance doesn’t only cover your contents, it also provides liability coverage that can protect you from someone taking legal action against you in the event of an injury or damage to property in which you are held responsible. Most policies provide the liability coverage world-wide, not just on your premises. Also, when paired with your auto insurance, the multi-policy discount to your auto insurance that occurs can be put towards the tenant policy making it very affordable.

Fallen tree – If you have a tree on your property that shows visible signs of rot on the exterior, and it falls over and causes damage, the insurance company may deny the claim because it was a foreseeable incident that could have been avoided with proper maintenance.

Watercrafts are insured on the same policy as your home – If you have your watercraft insured on the same policy as your home and you have a claim on your watercraft, it can affect the claims-free discount on your home policy. To avoid this, in more recent years, some companies have started allowing the watercraft to be insured on its own policy and still allow for a multi-policy discount so the watercraft will receive the same savings it had when added to the home policy as long as the home and watercraft are insured with the same company.