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Home Insurance FAQ
Home Insurance FAQ
Find answers to commonly asked home insurance questions here.
All Home Insurance FAQ
The cost of insurance varies and will depend on the type of coverage you need.
To get an idea of how much you might pay for home insurance, get a free quote today.
There are various kinds of home insurance that cover general and specific kinds of damage to your home.
Home insurance could cover:
damage or loss to your home
damage, theft or loss of your personal possessions
personal property stolen from your vehicle
damage or injury to others who visit your home or property
accidental damage you cause to somebody else’s property
You can also buy specialized insurance to cover a condominium, home business, or other kind of property or valuables found in your home.
Coverage will vary depending on the type of policy you have.
Home insurance can cover your home and its contents in the case of theft, loss or damage to the inside and outside of your home or property.
It could also help you cover additional living expenses if you're temporarily unable to live in your home such as living in a hotel or a rental home.
Typically, you would purchase home insurance before closing on your newly purchased home.
This ensures that you have coverage on your new property from any incidents that may occur.
In certain circumstances, a financial institution won’t fund a mortgage or line of credit before your home is insured.
Make sure to ask questions about your home insurance needs with your mortgage advisor, financial institution or financial specialist when you are buying a property.
Once you understand your home insurance needs, an insurance company will normally pre-approve the policy and then wait for your closing date to send your proof of 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 may also include liability coverage for people who are hurt on your property.
A home insurance deductible is the amount that needs to be paid by you to cover the repair or replacement of your covered property before your insurance pays the rest.
A home insurance quote is an estimate of the premium you’ll pay for a home insurance policy.
Since a home insurance quote is only an estimate based on a variety of factors, it may not be the final price you end up paying for coverage.
For example, if you disclose different and/or additional information to our licensed insurance brokers that was not inputted into the quoter, or you decide that you may need different coverages, your quote could change.
Start your free online quote now.