As the day of your relocation draws near, no doubt you're working your way down your checklist of things to do. Sell your Lawrence Park, Toronto home? Check. Choose a new Windsor home? Check. Obtain financing for your new home? Check. Close the sale? Check. Arrange for movers to transport your belongings on the big day? Check. You're all set, right? Nope! What about protecting your home and belongings? What about homeowner's insurance?
What is homeowner's insurance?
Homeowner's Insurance is a safety net for homeowners. By paying monthly premiums to an insurer, property owners receive protection against accidents and loss that could destroy their homes or belongings. It doesn't prevent Waterloo, Ontario homes from being destroyed or damaged, but ensures that whatever was damaged or lost will be repaired or replaced by the insurance company. It also protects the homeowner from being sued if accidents happen to other people in their home.
Why should I get homeowner's insurance?
Homeowner's insurance is essential for anyone who owns property, whether it's Thornhill real estate or a condo here in Windsor. Without it, a natural disaster such as a fire, flood, or wind storm could cost you a lot of money or even leave you with nothing. For this reason many lenders will not give you a mortgage unless you also get homeowner's insurance. After all - they need money from you and they won't be able to get it if an ice storm makes you broke.
Shopping for Insurance
Make sure you visit several insurance companies before you sign a policy. Review the policy to make sure you're only paying for what you need and not a lot of extras and conversely that it doesn't leave you unprotected from a certain angle (e.g. floods). Some companies will provide a Edmonton home evaluation and all will give you a quote. To get the best price, you may have to take a larger deductible (i.e. figure you must chip in yourself when you make a claim).
Insurance in Windsor
If you've previously owned Oakville real estate you may be able to transfer your old policy to the new house. If not there are a number of companies in Windsor that can help you. They include Belyer Insurance, Ann Pignal State Farm Insurance, Southland Insurance Brokers, and PBL Insurance Limited. You can also buy policies online through the websites of national corporations and through your bank, which may be able to get you a deal.