• Home insurance Sherbrooke

    What exactly is home insurance?


    In general, people subscribe to home insurance in order to protect belongings and assets they have accumulated over the years. Home insurance can be divided into several categories, i.e. homeowner insurance, tenant insurance, and co‑owner insurance. Since home insurance is quite complicated, it is wise to have a professional counsel you, not only to help you understand its intricacies, but also to help you to make an informed decision. It is important to know that different insurance companies offer different types of coverage and that each type of coverage has its strengths and weaknesses. Consult your broker in order to make the wisest choice when it comes to your home insurance.

     

    How do I make sure my home is well insured?

    Shopping for the right home insurance plan can feel like a long and boring affair. Let us help you with that. Our brokers will be happy to help you find the coverage you need.

     

    For starters, what type of home insurance policy should I choose?

    Whether you own a house, rent an apartment of co-own a property, several types of home insurance policies are available to you. Some policies offer comprehensive risk coverage while others offer designed risk coverage.

     

    Comprehensive insurance

    Some insurance policies offer an extended protection commonly called all risk coverage while others offer designated risk coverage. Extended protection insurance policy Also called an all risk insurance policy, this type of insurance covers every type of risk a home, furniture and belongings can be exposed to, with the exception, however, of any exclusion listed in the contract. This is the most comprehensive type of coverage offered by the industry. We try to offer our clients this type of policy whenever possible since it offers the widest possible coverage and the best value for your money. This type of protection will cover of wide range of scenarios. For example, imagine a skunk manages to enter you home and leaves you with a stinky reminder of its presence. Would your home insurance cover such an occurrence? If you have subscribed to an all risk insurance policy, the answer would be “Yes”. Please check with your broker to see if this type of coverage would be appropriate for you, but remember that all policies have their limitations.

     

    Designated risk insurance policy

    This type of policy will cover only the risks listed in the contract. The most commonly listed risks are: fire, theft, vandalism, wind storm, hail storm, smoke damage and falling objects.

    You should also be aware that insurers offer a mixed formula contract that provides all risk coverage for the house itself and designated coverage for its contents. This type of contract is usually less expensive than the classic all risk formula, but offers less protection for your furniture and other belongings.

     

    Liability insurance

    This type of coverage is often misunderstood and underestimated one when it comes to home insurance. It does much more than protect you if someone gets hurt on your property since it follows you everywhere you go and protects you against a wide range of losses! If you require it, we can also offer you a more comprehensive liability package or the type of coverage that the industry calls an Umbrella insurance policy.