Insurance property appraisal

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Why get an appraisal?

Determining your property’s value is an important step when buying or selling, financing or refinancing, or if you need a fair market valuation for tax purposes.

What does it entail?

A professional appraisal includes an assessment of the property’s characteristics, a detailed comparison of the home to recent sales in nearby neighbourhoods, and an evaluation of current market conditions that could affect the property value. A real estate appraiser will come to your home and inspect your property, ask you a series of questions, and conduct additional research and analysis needed to determine the value of your home.

How is the value assessed?

The value of a property is determined by a variety of different things, each of which can influence how much your home is worth. These criteria range from the size of the lot, age of your home, its location, construction quality, and architectural features to the interior design style and the number of bedrooms and bathrooms.

Remember: a property valuation is not a fixed or permanent number. What it is, is a snapshot of what your home is worth today in relation to current market conditions. This value can change over time based on improvements to the property, as well as changes in your neighbourhood and the overall housing market.

5 things you can do to prepare for a home appraisal if you are seeking a high appraisal:

  1. Tidy up: Go beyond your usual cleaning routine. Wash windows, vacuum and scrub your floors, wipe down all surfaces and make sure dust isn’t prevalent on tables, furnishings or baseboards.
  2. Work on curb appeal: Depending on the season, shovel the driveway or rake the leaves in the yard. The outside of your home is important, and will be the first impression your appraiser has of your property.
  3. Minimize risks: Make sure there is nothing unsafe in your home.
  4. Tick off everything on your to do list: That leaky faucet you've been meaning to fix? Fix it. That rodent problem in your attic you know you should take care of? Take care of it. Fixing your home's little problems before getting it appraised may save you in the long run.
  5. List your updates: If you installed energy efficient windows, bought a new furnace, or did some landscaping in your backyard, let the appraiser know. If possible, provide a list that states all the work that has been done, including exactly when and by whom.

How to make a claim

Call 1-877-251-8656 to speak with a Claims Advisor.

Renewing your policy

Call 1-877-251-8652 for information regarding policy renewal.

Buying a new policy

Call 1-866-660-9035 for information on obtaining a quote.

Need help?

Take a look at the top 5 FAQs:

  • Why should I have home insurance?

    Why should I have home insurance?

    While the government doesn't require you to purchase home insurance, your mortgage-holder probably will - at least enough to cover its share of ownership. There are various kinds of home insurance that cover general and specific kinds of damage to your home, and you should research your options carefully. You can also buy specialized insurance to cover a condominium, home business, or other kind of property or valuables found in your home.

    Home insurance also includes liability coverage for people who are hurt on your property.

  • Why should I buy tenant's insurance when I live in an apartment and don't have many contents or valuables?

    Why should I buy tenant's insurance when I live in an apartment and don't have many contents or valuables?

    Most people would be surprised at the value of their personal property if they were to add it up and have to replace it all immediately. Think about your furniture, clothing, electronic equipment-then try to put a price tag to it all. Also, if you've purchased items on credit and they are stolen or destroyed by fire, you could still have to make the payments.

    Tenants insurance also includes liability insurance for damage the tenants or their guests cause to the building, for injuries in the rented home, etc.

  • How can I earn PC® points?

    How can I earn PC® points?

    When you use your President's Choice Financial® MasterCard® to pay your PC home insurance premium, you'll get 20 PC points per dollar of your premium. If you use your President's Choice Financial bank card to pay your PC home insurance premium, you'll get 10 PC points per dollar of your premium.

  • What is a deductible?

    What is a deductible?

    A deductible is your share of the amount that needs to be paid to cover the repair or replacement of your covered property before your insurance pays the rest.

  • How are premiums calculated?

    How are premiums calculated?

    The building itself has a lot to do with how your home insurance premiums are set. Many things about your home are taken into consideration including:

    • Its age and size
    • Type of building (detached, semi, high rise, etc)
    • Type of construction (brick, stucco, wood, etc)
    • Type of heating system
    • How close it is to a fire hydrant or fire station
    • Where it is located

See all Home Insurance FAQs

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