Your house is likely your most valuable asset, but making sure you’re protected with adequate home insurance can often seem like a daunting task. In addition to comparing rates, it’s important to know what questions to ask your insurance provider to secure the coverage you need should the worst ever happen.

When you’re shopping for home insurance, make sure you ask the following questions:

  1. What is the replacement value of my house?
    If a devastating fire or storm were to demolish your home, you need enough coverage to rebuild. This amount is often quite different from the retail purchase price, which considers factors such as your home’s age, location and land value.Insurance providers use sophisticated tools to calculate the cost to rebuild your home with new materials on the same lot. In order to calculate an accurate value, be prepared to provide information about your house, including the approximate square footage and construction materials used.
  2. Does the policy include sewer backup and other water damage? What’s the difference?
    In recent years, water damage has become the leading cause of home claims. Where the water came from and how it entered your home are key factors in determining whether you have coverage. For example, water could originate from inside your home — from your dishwasher or a hot water tank — to city sewage and water systems backing up through pipes into your basement. Water damage can even result from exterior groundwater caused by heavy rains or the overflow of a body of water.Ask your provider about different types of water damage and whether they are included in your home insurance.
  3. What’s covered by this policy and what isn’t?
    Homeowner’s coverage is typically broad, but every policy has exclusions and limitations. Ask about specific items that are of particular concern to you, like a large tree in your yard or expensive jewellery in the home.
  4. What happens after a claim?
    Find out if the home insurance you’re considering offers 24/7 claims support. Ask your provider how promptly they settle claims and if they cover expenses while your home is being repaired. You may also want to ask how your premium will be affected if you make a claim.
  5. What discounts and savings am I eligible for?
    Insurance providers offer a wide range of discounts, so be sure to ask about savings or discounts. For example, do they offer protection systems in place for being claims-free? You aren’t likely to make an insurance claim for a small amount of damage, so you may also want to consider increasing your deductible to save additional money.

To help ensure you have the right coverage at the right price, it’s important to ask the right questions. Hudson’ s Bay Insurance. is always happy to answer any questions you may have about home insurance.

Stay covered with Hudson’ s Bay Insurance.

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