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Andre Tsopelas

Sales Representative
Mobile: (416) 528-6453

Bayview

1739 Bayview Avenue,
Toronto ON
M4G3C1
CA

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Homeowner's Insurance

 

Homeowner's InsuranceIf you have any questions or would like more helpful information on anything don't hesitate to Contact Me or visit my Buyers Page or Sellers Page. If you would like more information on Toronto visit my About Toronto page, my Toronto Culture & Tourism page or my Toronto Education page.

When buying a home, one word you will hear often is "insurance." As a homeowner you are concerned about protecting your house, your personal belongings and your personal liability. It is important that the coverage you choose provide the comprehensive protection that you need. Contact Me and we will put you in touch with a trusted professional.

Homeowner's insurance protects you and your house against losses from fire, theft, liability, vandalism, water damage, wind damage, tornadoes and loss of use. Earthquake and flood insurance are not included but can be purchased separately.

 

Types

 

There are three types of homeowner's policies to choose from. A clear understanding of the coverage each type offers will help you select the right policy for your needs. Each type carries a deductible amount you select.

  • A standard policy requires coverage for at least 80% of the value of your home, excluding land and the foundation. It will usually insure your personal property at actual cash value.
  • A broad-from policy is more inclusive than the standard policy and covers additional named perils such as glass breakage, smoke damage, etc.
  • An all-risk policy covers even more than do the standard and broad-form policies. An example of a covered risk might be damage caused to your roof from ice build-up in the gutters.

Some of these policies offer optional guaranteed replacement cost coverage on your home and its contents. Replacement cost coverage will pay to rebuild your home and replace its contents with no depreciation coming into play.

It is important to understand that the replacement value of your home is based on your insurance company's estimate of the cost to rebuild your home on your property. It is not based on the purchase or appraised value of the home. Most policies have a built-in annual increase of replacement cost coverage.

 

Reducing Premiums

 

When purchasing homeowner's insurance, there are ways of lowering your premium. Most insurance companies offer discounts for smoke alarms, fire extinguishers, dead bolt locks, and whole-house alarm systems. If your home is fairly new, or if you elect to insure your automobiles with the same company, you are likely to receive a discount on your premium.

Another way of lowering your premium is to select as high a deductible as you can afford. Raising your deductible reduces your premium.

Insurance is the type of service you buy hoping that you will never have to use it. Discuss With Me your unique needs and concerns when you purchase the insurance and whenever your needs change. The right insurance can give you a sense of security in knowing that you are adequately protected.

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RE/MAX Ultimate Brokerage Inc., Independently Owned and Operated | Residential Real Estate | Luxury Real Estate | Commercial Real Estate
RE/MAX Ultimate Realty Inc., Brokerage
1739 Bayview Avenue
Toronto ON  M4G3C1
(416) 487-5131
Real Estate License # 4752522