Home Insurance in Ontario

This depends on the size of the renovation. Cosmetic renovations such as new flooring, painting or updates to kitchens and bathrooms are not a material change in risk and therefore, do not need to be noted. However,if you are adding value to the house, such as finishing the basement, it is important to let your broker know, so we can ensure the limit on the house is sufficient.

Any renovations that include additions to the house are important to let your broker know, so they can ensure proper coverage is in place, as this is a material change in risk.

No, they are not. A recreational vehicle requires a separate insurance policy or in some cases, it can be added onto your auto policy.

There is a section in your home policy called special limits. This will include some coverage for Jewellery. Limits vary by insurance company, but there is usually around $5,000 for Jewellery coverage. Any big items,such as watches, wedding bands, etc., should be scheduled on your home policy. If you have questions on your specific coverage, it is important to contact your broker.

The primary contrast between home insurance and condo insurance lies in their coverage scope. Although both types of insurance offer personal liability and contents coverage, they diverge in various aspects. Notably, home insurance is specifically tailored to protect the entire structure of a house, while condo insurance mainly focuses on covering the improvements and betterments made within the unit. It is important to mention that the Condo Corporation typically insures the remaining portions of the unit.

The key distinction between tenant insurance and home insurance is based on property ownership. Tenant insurance is specifically designed for individuals who rent a property and require coverage for their personal belongings and liability. On the other hand, home insurance is intended for homeowners who need comprehensive coverage for their property, belongings, and liability. Tenant insurance focuses on protecting tenants’ possessions and liability within a rented space, while home insurance provides broader coverage for property owners, encompassing their residence, personal items, and liability. It is essential to choose the appropriate insurance policy based on your specific circumstances to ensure adequate protection.

The primary distinction between home insurance and cottage insurance is the purpose and occupancy of the property. Home insurance is specifically designed to provide coverage for primary residences, where individuals live on a year-round basis. On the other hand, cottage insurance is tailored to protect secondary properties, such as vacation homes or seasonal cottages, that are primarily used for recreational purposes and may be unoccupied for certain periods. Cottage insurance takes into account the unique risks associated with vacation properties, such as vandalism, water damage from freezing pipes, and coverage for detached structures like boathouses or sheds. It is important to obtain the appropriate insurance policy based on the specific usage and occupancy of your property to ensure comprehensive protection