If you’re renting an apartment, who has the responsibility to arrange insurance?
Did you know that the Insurance Bureau of Canada estimates that about half of renters do not have insurance? That’s a lot of families that will face an unpleasant surprise if they suffer a claim.
While you don’t own the building, you still need insurance if you want to protect yourself and your possessions. Your landlord’s insurance will not provide the coverage you need. Imagine there is a fire and all of your possessions burn. Imagine you have a guest in your unit and they’re injured from a fall. What if you unintentionally do something that damages the building? What if water leaks through your ceiling from the tenant above?
Let’s work together to make sure you have the protection you need. Advocate helps many clients find affordable tenant’s insurance solutions while still offering the protection they need.
There is a lot to consider when you’re purchasing property insurance. Assessing hazards, managing risks, selecting the right insurance company, appraising values, picking coverage and limits. The list goes on. Your home is likely your most expensive asset. Please don’t put it at risk by not having adequate coverage in place. Take the time to work with a licensed broker who will listen to your needs, shop the market and present options so you can make an informed decision. We would consider it a privilege to help you with your home insurance.
Many insurance companies use credit scoring to assist in determining the rates of insurance premiums for home insurance policy. When a credit score in ordered by the insurance company, this is a “soft-hit” against your credit score and will not have an impact on your overall credit rating. You are at choice as to whether you want to participate in credit scoring. The information generated from the credit scoring can only be used to help in reducing the premium for your policy. Credit scoring cannot be used to negatively impact your premium or penalize you. Please contact us to confirm if your current provider uses credit scoring when determining your personal property insurance premium and whether you might be eligible for reduced premiums.
Most insurance policies have a requirement that during the heating season, the dwelling has to be checked on a specified basis. Please call us to discuss, so we can tell you what your insurance company requires as part of their policy.
Depending on the type of business you are running out of your home, you may require additional coverage. We will need to know if you have clients coming to your home, what type of business equipment, supplies or product you may keep at your home, the annual income generated from your home based business and the percentage of your home in which the business occupies, or if you have any employees. Generally, you will need to complete a Home Based Business questionnaire to determine your limits of coverage required.
We want you to be confident that your valuable items are protected. We recommend that they be scheduled on your policy separately and insured to value. Current appraisals are generally required in order to add this coverage to your policy. Please contact us to discuss what options are available to you for scheduling your high value items. We will be happy to prepare a quote for you.
