Home FAQ's


Q: What is homeowners insurance?
A: Homeowners insurance is a form of personal lines insurance. The typical homeowners policy has two main sections:
  • Covers the property of the insured.
  • Provides personal liability coverage to the insured.

Q: What do I need to know when purchasing homeowners insurance?
A:
  • Get the amount and type of insurance that you need. We can help you with this part.
  • Determine the amount of personal property insurance and personal liability coverage that you need.
  • Select any additional endorsements you want to add to your policy. For example, do you require an increased limit of coverage for jewellery, or do you operate a home based business?

Q: What is "actual cash value"?
A: When "actual cash value" is used in a policy, a policy owner is entitled to the depreciated value of the damaged property.

Q: What is replacement cost"?
A: When "replacement cost" coverage is used in a policy, a policy owner is reimbursed an amount necessary to replace the article with one of similar type and quality at current prices.

Q: Should I purchase earthquake coverage?
A: Direct damages due to earthquakes are not covered under the standard homeowners insurance policy. If you live in an area that is prone to earthquakes, you may want to consider adding an earthquake endorsement to your homeowners insurance policy. This endorsement will cover damages due to earthquakes, landslides, volcanic eruptions and other earth movements.