Four Tips for Insuring your Home and Contents
Read our four Tips for Insuring your Home and Contents. As your Red Deer insurance broker, we’re proud to be based in Red Deer and offer full insurance portfolio reviews as a value-added service. As your insurance broker in Red Deer, we work with over 12 different companies to determine the best product and coverage for your home insurance needs. Coverage can vary from one insurer to the next, so as your broker, it’s our job to find you the best rate for the coverages you need.
Home insurance covers the dwelling, contents and personal liability of you (the policyholder), your spouse or partner, and your children. The policy also covers dependants under the age of 18 and dependants who are students enrolled and actually attending a school, college or university and living in the household or temporarily living away from the insured principal residence.
Here are 4 tips to keep your policy accurate and up to date:
- It’s always a good idea to contact us if you are:
- Renovating your home
- Installing a pool or spa
- Setting up a home based business, such as a daycare
- Leasing all or a portion of your property
- Purchasing jewelry or art
- With the severe weather we experience in Red Deer over the summers, confirm your policy has accurate replacement value. It can be difficult to estimate the replacement value of property from year to year, and a guaranteed replacement cost coverage pays for replacement without reduction for depreciation. The endorsement covers any shortfall if the replacement cost has been underestimated.
- Make it a habit to review your home inventory each year when you renew your policy. We suggest you walk through your house and take video of all your possessions. You’ll be amazed at how easy it is to forget certain items if you ever have to make a claim.
- Consider a separate endorsement for high value items and jewelry. Most companies offer a blanket limit between $6000-$10,000, but this depends on the company. If you have certain pieces of high value, check with us, your insurance broker, to see if they’re worth scheduling.