Get cheap domestic insurance in Calgary
There are four main types of flooding. It is important to remember that your home insurance policy treats each of them differently:
1. Overland flooding occurs as a consequence of water (rain or melting snow) entering your house from the outdoors. Standard insurance in Calgary does not cover expenses from overland flooding. However, some companies do provide coverage for this type of flooding at an additional cost.
2. Roof leakage can be covered or not covered, depending on the factors that caused it. If the roof was in poor condition from the beginning, your insurance provider will not cover the damage. Your home insurance will most likely cover damage from a natural cause, like hail.
3. Your insurer will cover plumbing issues, only if you comply with the rules in your policy, such as having somebody visit your home while you are not there for extended periods of time (for example, while you are on vacation).
4. Sewer backup happens when wastewater is driven back into your house. Traditional home protection does not cover this type of flooding. However, you can always purchase this type of coverage as an addition to your home insurance policy.
The Difference Between Condo and Tenants Insurance in Calgary
Owners of condos can purchase homeowners insurance for their condo. The condominium corporation purchases commercial condo insurance. The difference between these two policies is in what part of the condo they cover. The homeowners insurance covers the contents of the condominium. The coverage also includes protection for upgrades, locker contents, third party liability, theft, additional living expenses, and sometimes special insurance assessments.
The commercial condominium corporation's insurance covers the building's exterior (envelope), together with its infrastructure and common areas.
Condo renters in Calgary need tenants' insurance to cover the contents of their condos. This type of protection is usually mandatory and is part of the rental contract. In addition to the coverage of contents against theft, fire, and other hazards, the insurance also extends to third party liability and additional living expenses. Living expenses are for the cases when the condo is unlivable (due to earthquake, flood, fire, etc.), so the renter is forced to live in a hotel or rental unit until the condo repairs are complete.
10 Ways to Save on Home Insurance in Calgary
Here are a few ways to save on your home coverage. For more savings, get an insurance quote and contact an insurance expert.
1. Professional membership. Members of unions or professional organizations can get a discount on their home insurance. Insurance companies, like Meloche Monnex Insurance, also provide their members with insurance policies.
2. Hydrant or fire station. If your home is close to one of these things, you can ask for a discount from your insurance provider.
3. Discounts for students. Some insurance providers give discounts to students. As for dependent students who live alone, their parent's home insurance may cover the insurance on their apartment at no additional charge. For example, Desjardins Insurance provides this discount.
4. Discounts for graduates. TD Insurance is an example of an insurer that offers discounts for graduates from post-secondary institutions like McGill University or the University of Toronto.
5. Quit smoking. Many insurance companies increase home protection premiums for smokers due to the potential fire risk.
6. Change your policy. Those with tenant insurance should rethink the size of their coverage - perhaps some things that do not have much value do not need additional coverage.
7. Security of your home. Does your home have additional security, like a doorman or security guard? This might get you a discount from your insurance provider.
8. Direct insurer. Also called a captive agent, a direct insurer represents one company and can offer their products for a cheaper price when compared to insurance agents or brokers.
9. Consumer reviews. Other home insurance consumers often share their experiences of purchasing insurance and making claims. Thanks to these insights, you will be able to avoid unexpected costs and overpayments.
10. Compare prices. You can get a home insurance quote in Calgary for a cheaper price thanks to the price comparison tools that show you the rates of the same services provided by different insurance companies.
