Canada homes are insured by provincial home insurance companies, which provide coverage for fire damage and theft. Home insurance is mandatory in Canada by law, just as it is in the U.S. If you rent your home, then your landlord will probably have insurance that covers damage to the building but not your belongings inside.
Insurance policies generally cover costs of repairing or replacing your home, and the contents of your house.
If you move into a new home, insurance companies will require that you have a complete inspection done by a qualified professional. This means hiring an engineer to ensure that the structure is sound and there are no electrical problems with wiring, light fixtures, outlets and fuses. It's up to you to decide whether you want a home inspection before you buy it.
Most insurance companies will only provide coverage if the house is equipped with a working smoke detector and a device that protects against carbon monoxide, such as an alarm or a detector connected directly into the furnace.
In most provinces, the customer has the option of getting insurance coverage for the replacement value of the house, or only insuring for the actual cash value. Cash value is the depreciated price of your property, so it's kind of like you're deciding how much you want to be paid if your home burns down.
You can save money on your premiums by choosing a deductible amount which is the portion of a claim that you pay. You can choose from $500, $1000 and $2,000 as the amount of the deductible.
If you make a false claim on your insurance, your insurer may cancel your policy and refuse to renew it in the future. But some companies will permit one claim for things like wind or fire damage —as long as the damage is not due to negligence on your part.
Inexperienced or inattentive drivers are cited more often for accidents that cause property damage, but the most common reason homeowners give for making a claim has nothing to do with accidents. This reason is theft.
Your insurance company will typically pay you the depreciated cost of your stolen items.
It's important to note that natural disasters are not covered under home insurance plans, except for certain special circumstances outlined in your policy. For example, an ice storm usually isn't covered unless you have chosen optional coverage because it is a "named peril" under your policy. But floods are typically an exception because they are covered under the standard home insurance policy.
Special circumstances also apply to earthquakes and fires that occur in your home — coverage is often excluded unless you have chosen optional protection. These special circumstances are called "named perils."
The best way to protect yourself from costly replacement costs is to make sure you understand what your insurance company will cover and file a claim quickly if you need to.
You must weigh the cost of your deductible against the risk that an accident will cause significant damage, either to yourself or your home. The higher the deductible, the lower your insurance premiums are. However, if you have a high-deductible policy and something does happen, you'll be faced with paying a lot of money out of pocket.
Where to get money for housing insurance
You can try to win money to pay your insurance premiums. At the Fresh online casino, you will get a large selection of unique games. The most popular ones are table games such as roulette and blackjack, however there is also a very wide selection of slot machines. Some casinos give you the opportunity to play for free while others enable you to practice with fake money before playing for real cash.
There is an ever increasing choice of online casinos that offer a wide variety of games to play.
Many people think that playing casino games is hard but as long as you learn the rules and as long as you have a bit of luck on your side, there's little reason why not to win at one or two of them. It is very easy to find an online casino and you can even try out a few different before making your final choice.
Online casinos give new members the opportunity to practice their games before they start playing with real cash. You'll be given a bunch of "play money" credits which you can use to try out whichever games that are available on their site. You can play for free as long as you want and when you feel ready, switch over to real cash tables - the online casino will more than likely require some form of identification from time to time so don't forget your ID when you decide to play for real money.
When you get acquainted with all of the rules, you can get started playing online casino games and start working on your strategy to become a winner.