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Don’t Let Life’s Unknowns Take Away Your Home
Your home is your biggest and most important investment. Naturally, you want to protect this investment. You need the best Home Insurance policy you can afford, but how do you know you have the right coverage and lowest premiums? It’s important to speak to an experienced insurance professional about your needs or you could end up like the couple in our example story.
Bill and Jeri B always wanted a lovely home. However, they didn’t have the money to buy one, so they both worked hard for several years, and after much sacrifice, they had the money they needed for a house.
It didn’t take long for the couple to fall in love with a home. The house was perfect for their needs, and they were very excited about their new home and were in a big hurry to get all the papers signed and start the process of moving in. Jeri and Bill needed Homeowners Insurance but they thought all policies were pretty much the same, as long as they covered the basics. The couple was pleased to get a cheap policy to keep their monthly expenses as low as possible.
Bill and Jeri had few problems moving in and things went well for almost 5 years. During this time, they had a child and life was good. However, all this changed one night when a large rainstorm swept through Central Alberta. The rain came down for over a day and it started flooding in many areas. In fact, this caused the sewers in Jeri and Bill’s neighbourhood to back up.
Their entire basement was flooded but it could have been much worse. Had the rains kept up for another hour or so, it could have flooded the entire drain system of the house, causing an enormous amount of damage.
The couple was unaware they were not covered for floods or sewer backups, and the bill for all the cleanup work as very expensive. In fact, they had to take out a loan to pay for all the damages. Needless to say, Bill located a trusted insurance person referred to him by his boss, so this problem would never occur again.
A Closer Look at Home Owners Insurance
When most people think of Homeowners coverage, they think of another way the insurance companies get money from us. However, the truth is, insurance is the best way to cover your potential risks since no one can accurately predict the future. Your homeowner policy protects you from extensive damages, injury expenses, and lawsuits.
Does Everyone Need Coverage?
If you own a house or residence, you should consider insuring it. In fact, it’s not an option if you have a mortgage on your home, because the lender wants their financial interests protected. Even if you are only renting a house or apartment, you should have the contents insured against damage and theft, because your landlord’s property insurance doesn’t cover your possessions or legal liability if your dog bites someone. Here are properties that should be fully insured:
- Private residences
- Cabins and vacation homes
- Luxury homes
- Rental properties
What’s in a Standard Home Insurance Policy?
A standard policy should include coverage for:
Homeowners Insurance Options
Standard insurance is not usually enough and you might need to consider these important insurance options for your home.
- Flood Insurance
- Sewer backup coverage
- Identity Theft protection
- Extra Liability insurance
- Additional contents – can include luxury items, antiques, collections, art, and such.
- Replacement cost coverage
- All risk or peril insurance
What Home Owners Insurance Discounts are Available?
You may find a number of discounts and factors that affect your premiums to review when you speak with your insurance agent. For example:
- Burglar alarm systems
- Sewer backup prevention equipment
- Multiple policy discounts
- Discount for non-smokers
- New roof
- Mortgage free
Finding the Best Insurance
Finding the right Homeowners Insurance policy can be difficult. All the companies claim to have the best policies, but you need coverage that is best for you and your family. This is the reason so many people in Alberta are turning to independent insurance agencies like Leibel Insurance Group.
When you go with an independent agent you have an insurance advocate working for you and this person has your best interests at heart. There’s no more shopping around to find the best policies. Your agent does all that for you and much more. With access to top insurers, you can be assured of getting a policy customized to your needs, and at an affordable price too.
Filing a Claim
Leibel Insurance Group has more than 30 years of experience in the insurance industry. We are there to help make sure your claim is handled properly. When you need to make a claim, contact the company directly, and they will notify us. We are there to offer any assistance you may need and we will follow up to make sure your claim was handled satisfactorily.
When you do business with us you are never alone. We can help you find affordable Home Owners Insurance that covers all your needs. You can contact us by phone, fax, email, or in person. For questions on insurance or information on a policy assessment, you may call (780)484-8880. Call or fill out the free quote request form above today!
Is your property insured through Aviva or Intact? If so, take a look at the new coverages being offered through these insurance providers:
Aviva Insurance – Overland Water Damage Coverage
Effective June 1, 2015, Aviva is now offering Overland Water Damage coverage. This coverage will be available to you midterm or on your property renewal date.
Check out Aviva’s informational video about this new coverage. Please contact your Broker for further information or to speak with your Broker about adding this coverage to your policy.
Intact Insurance – Enhanced Water Damage Package
Intact is now offering Enhanced Water Damage coverage. This coverage will be available to you midterm or on your property renewal date.
This Enhanced Water Damage coverage is a replacement to the current Water Escape/Back-Up Extension Endorsement. This coverage extends to cover overland water losses, and water and sewer line losses.
Various coverage limits are available for customers. You will have the choice and ability to customize your coverage based on your individual needs.
Check out Intact’s informational video about this new coverage. Please contact your Broker for further information or to speak with your Broker about adding this coverage to your policy.
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They have been AMAZING! Any time I've called, and had to make changes the girls were so good about it and never gave me a hard time for changing my policy 7 times in the year haha. Excellent company and I would recommend them to all my friends and family!