How home insurance works

How do I add a new or secondary home to my insurance policy?
Our vetted insurance providers can include your second home under the same insurance policy as your first, offering both properties the same coverage. However, it is advisable to consider taking out a separate insurance policy for your second home, as it may...
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What is a home insurance policy deductible?
A deductible is the portion of an insurance claim you are liable for before your insurance provider makes a settlement.  Your deductible impacts your monthly premiums. The more you are willing to pay, the less your premiums will be. That said, you should...
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How can I get a discount on home insurance?
 You could qualify for a discount if you are senior citizen, newer home, and more. See the full list below: You are a senior citizen. Your home has monitored alarms and smoke detectors. You have multiple insurance policies with the same insurer (E.G.:...
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How do I get a good home insurance rate?
Comparing quotes from our various insurance providers on Comparewise would be a good place to start. In addition, doing any of the following may be to your advantage: Determine what discounts you qualify for: You could qualify for a discount if you have auto...
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How much home insurance coverage do I need?
Home insurance coverage needs vary per person. The minimum liability coverage offered by most insurance providers is $100,000 with a maximum of $1 million. To determine how much coverage you would need, you would have to consider many factors such as the...
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How much does home insurance cost?
The average annual cost for home insurance in Canada is $960, but this average can differ from province to province. Many factors affect the cost of home insurance, such as the type of property, its current condition, its location, and more. Our vetted...
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What is home insurance underwriting?
Underwriting is the process by which insurance providers assess the risk of covering an individual’s property and determine the premium they will charge for the risk they are assuming.  Every insurer has its underwriting guidelines but, typically, they...
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What are different kinds of home insurance do you get?
The different kinds of home insurance you can gets are standard home insurance policy, comprehensive insurance policy, broad home insurance policy, and no-frills home insurance policy. Standard home insurance policy: Only specific items listed in the...
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What does home insurance cover?
Home insurance policies differ, therefore, the type of policy you obtain will determine what exactly is insured.  Home insurance policies may typically cover damage of house, personal property, etc. Below are more examples of the home insurance policies...
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How does home insurance work?
First, our vetted insurers will draw up an estimation of the cost to cover your home, its content, and your personal liability should something happen. A premium is then determined, based on this information, and is what you will be expected to pay your...
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Who should get home insurance?
If you own a house, it is wise to get home insurance to protect you financially against unforeseen events. Without a house insurance policy, you will be liable to pay for costs associated with damage, vandalism, theft, and more, that may arise on your...
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What is home insurance?
Home insurance is coverage on your property for certain unexpected events, such as a natural disaster or a liability claim, to help you cope with the financial consequences. When you purchase a house with a mortgage, your lender will require you to get home...
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