Archive | Insurance

Why You Need a Home Inventory for Insurance

A family enjoying time together in the living room.

Insurance may seem like a set-it-and-forget-it scenario. Once you purchase home insurance, you don't have to worry about it until time comes to make a claim, right? That's true in some respects, but one important part of taking care of your home is keeping an up-to-date inventory of your belongings. That streamlines the claim process ... Continue Reading

Why Title Insurance is Essential When You Buy a Home

A close up of a man holding the keys to his new house with his partner by his side.

You know about home insurance -- but what about title insurance? This usually incurs a one-time premium cost but protects against various perils that affect your clear ownership of your home. It may seem like an unnecessary add-on to your home purchase price, but it can bring you real value. Here's what title insurance covers ... Continue Reading

Heritage Homes May Need Special Insurance - Here's Why

A view of a heritage home from the front. The home is nestled in amongst some trees that are just starting to bloom.

Owning a piece of history can be a great experience -- but when that history is a heritage home, it may cost more than you think to insure. Heritage homes require special maintenance and may take more time to rebuild after disaster because of government regulations. Here's what you need to include in your heritage ... Continue Reading

Spring Floods in Eastern Canada Caused $208 Million in Damages

Water damage in a home's family room.

The Insurance Bureau of Canada (IBC) says damages caused by the floods experienced in eastern Canada, particularly Ontario, Quebec and New Brunswick, in late April/early May resulted in $208 million in insured damages. The hardest hit was Quebec, where damages are estimated to be $127 million. In Ontario, damages come in at $74 million, while ... Continue Reading

Does Guaranteed Replacement Cost Protect Your Home in the Event of Disaster?

A tornado touching ground in a field.

Three Ottawa area families recently sued Desjardins insurance. At issue was the company's proposed settlements under a "guaranteed replacement cost" provision. The families' homes were destroyed by a tornado, but the payouts were $150,000-$250,000 less than what the policyholders claimed was necessary to rebuild. The insurer's estimates differed from quotes the homeowners received from private ... Continue Reading