5 Helpful Tips In Finding Your Perfect Home Insurance Policy

When looking to purchase a home, we can all agree that the number of bedrooms, kitchen countertops, special finishes and square footage are among the top in a Buyer’s mind. In turn, the topic of homeowner’s insurance often gets pushed to the bottom in all the excitement of the local Saskatoon housing market. However, home insurance is a must, especially for those with a mortgage, as lenders will insist you have it, requiring proof before approval.

Instead of waiting until the last possible moment and possibly delaying the official purchase of your dream property, make sure to shop around for your policy in advance. Compare all the different offerings to find the right fit for you, whether it be from the government, bank or other companies such as SGI or TD Bank. When insurance shopping, it is essential to search for affordable premiums and consider the deductible. Remember, the higher the deductible, the lower your premium.

Of course, premiums aren’t the only thing to keep in mind when shopping for home insurance. Here are five more tips to use in your search:

Ask a lot of questions

• • Ask about the different policies available; some offer primary coverage, others are more comprehensive policies
    • A Financial Advisor can help you figure out precisely what kind of coverage you need to protect your home and its contents
  • Make sure you understand the details

Find out what’s excluded

• • Be sure to ask what is not included in coverage
    • Know in advance so there are never any surprises!

Liability coverage protects you anywhere

• • This portion of your policy covers incidents occurring at home as well as any legal responsibility out of unintentional actions that harm others
    • For example, if you are so blessed to have a swimming pool in your backyard, you will need liability insurance. Public pools have numerous safety rules for a reason!

Do you need additional coverage?

• • If you have expensive belongings, you may need additional coverage such as contents insurance to be fully protected 
    • Jewelry, collectibles, musical instruments, computers, home business

Your insurance needs can change

• • Your policy is not static, as your needs will change over time. If renovating or adding to your home, let your advisor know to make adjustments

Your home might just be the most significant investment you will ever make, and protecting it is essential. Not sure what else you need to know? Whether you’re buying or selling your home or still looking for your dream property, I am here to help ensure you have all you need for a smooth transaction!