Your Home Insurance Coverage
Nobody can predict when a disaster may happen, but wouldn’t you feel better knowing that you are prepared?
Take a minute to think about the important investments in your life. For example, your house. More than just four walls and a roof, a house is a sense of pride and joy, the place you call home. You take care of your home, cleaning, upgrading, and maintaining. But do you have the proper Home Insurance coverage?
This story below explains why the correct home insurance coverage makes all the difference.
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 neighborhood 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.
What Bill and Jeri could have prepared for with the proper home insurance is just an example of one of many scenarios. We recommend talking to your broker about your coverage today!