Home Insurance Policy Listowel

Life is full of unexpected and unwanted events that can immensely affect how you live every day. To make sure you can bounce back in case things go wrong, you should have a backup plan. Just like how you would purchase an insurance policy for yourself, you should also get one for your home.

It serves as your protection against damage or theft. Some mortgage companies also require borrowers to have a plan before they can get a loan or finance.

What You Need To Know Before Buying a Home Insurance Policy in Listowel

Before you go and purchase a home insurance policy in Listowel, it’s important to understand more about it. The last thing you’d want is to find out that your plan doesn’t cover the one item you wish to cover after an accident. To avoid this situation, you should learn more about the different types of coverage that are typically offered.

Different Types of Coverage

  • Building

    This type of insurance provides you with financial protection in the event that something happens to your home, such as a storm or a fire. This includes areas of your property like garages, sheds, and even fences.

    You’ll have to estimate the rebuild cost of your house because this policy should be able to cover that amount. Mortgage providers will recommend or even insist that you get this insurance.

  • Contents

    If you live in a rental property, you’d want to make sure that your belongings are secure. A contents cover can protect your priceless belongings. To help you purchase the right home insurance policy in Listowel, create an inventory of all your possessions and compute their worth. If the result is a price you can’t pay in your current situation, then this policy would be great for you.

  • Personal Liability

    In the event that someone sues you for causing injury or damaging property, this type of coverage will be helpful to you. A great example of where this policy would come in handy is if your beloved dog bites a person. Your coverage can pay for all your legal fees and medical bills from hospitalization. This will be largely dependent, however, on your policy limit.

  • Loss of Use

    If your home is too damaged to live in, a home insurance policy in Listowel that has a loss of use coverage can keep you afloat for a while. It can pay for hotel stays and restaurant meals while your home is being repaired after an accident or a disaster. Review the coverage of your insurance plan to make sure you’re eligible to claim for additional living expenses for your home damage.

How Much the Policy Will Pay Out

The amount you’ll get from your home insurance will depend on your policy. If you have a sum insured policy, the insurance company can pay up to the amount specified on your insurance certificate. This will be based on how much your house and possessions would cost to replace, according to you.

There are also total replacement policies that will cover the entire expenses of repair, replacement, or rebuilding. However, this plan is only applicable to building cover.

How To Get the Lowest Premium

To find the best value for your home insurance policy in Listowel, shop around and get quotes from at least three insurers. This will provide you with better insights into the premiums and give you enough options to choose what suits your needs. New customers are also often offered lower premiums. Instead of renewing your plan, look for new providers that have a more affordable option.

Get Help in Choosing a Home Insurance Policy in Listowel Today

If you need help understanding your home insurance policy in Listowel, Van Allen Insurance Inc. is the one to turn to. Our highly-trained staff will present all your options and ensure that you make informed decisions about your coverage. Contact us today for a consultation.



Questions? Let’s Talk.

A Van Allen Insurance Broker can help you assess all your personal insurance needs.