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Does Your Home Insurance Policy Cover Natural Disasters?

Leibel Insurance Group

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Mary Jarvina
Mary Jarvina
18:49 22 Aug 18
Krista Wilson is super duper awesome! She got everything done in a timely manner and I am so impressed with her customer service. I've dealt with the run around with other insurance brokers and she was straight to the point. Thanks Krista 😀
Gillyn Parker
Gillyn Parker
22:00 30 Aug 18
I had issues with my previous insurance provider so I went looking for a new one. Found Sarah Milenbach from Leibel Insurance Group Edmonton was amazing! She is kind, thorough, and incredibly helpful! I am very impressed and happy with the service and my new policy. I highly recommend!!
Danny Greenbank
Danny Greenbank
19:25 17 Aug 18
Jessica was amazing to deal with! From getting quotes to answering questions to finalizing paperwork she was prompt and attentive. I put a high value on professional and quality service and I believe as long as she is in the business I will be dealing with her. Thank you so much for everything!
Kristina Free
Kristina Free
22:55 30 Aug 18
Tracey Leblanc gives excellent service. No matter what my questions are or the time of day I email/contact her, she is always prompt with her reply. Extremely prompt customer service! Best Insurance I have ever delt with! Thanks Tracey !! Highly Recommended !!
Ryan Maas
Ryan Maas
16:48 17 Sep 18
Amazing group! They always look after my needs and are informative and prompt. Keep up the great work! Thanks!
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basic home insurance policy Alberta

Does a Basic Home Insurance Policy cover all Natural Disasters?

Over the weekend the reality of how fast a natural disaster can happen hit home with one of our own. A Windstorm blew in swiftly and took down a tree of this size! There was damage to home and property. This reminds us to ask the right questions on insurance Policies to ensure we are protected for the losses that affect us.

Generally, weather related natural disasters are covered by a basic home insurance policy, but if you live in a high risk area, such as a flood plain, or an area susceptible to wildfires you may have to pay more for your general policy to cover the increased risk.

WHAT IS A PERIL?

A peril is what causes the loss, for example fire, and lighting. Your standard homeowner’s policy would include both insured, and uninsured perils. A home insurance policy is not a maintenance contract so basic deterioration, and faulty workmanship are what we call uninsured perils; While sudden and accidental escape of water is an insured peril, as it is an unavoidable loss.

TYPES OF POLICIES:

A SPECIAL/COMPREHENSIVE policy covers the building and personal property, on an all risk basis, so unless specifically excluded you would have coverage. One of the benefits of having a comprehensive/ all-risk policy is you are covered for Mysterious disappearance. In other words “I don’t know where it went” this is great for anyone with toddlers.

A BROAD form policy insures your house for all risks on the building, but only named perils on your belongings, so unlike above unless it’s listed as an Insured peril in your policy wordings you would not have that coverage on your belongings.

A NAMED PERILS/ FIRE AND EXTENDED COVERAGE policy only insures your house and personal property for the perils specifically named in the policy. This is not a form that is used often in the industry anymore, if you have this type of policy it would be on an older seasonal or mobile home.

Did you know that all of the above policy types would cover the loss as mentioned at the beginning of this article ie. Windstorm? So no matter what policy type you have Windstorm, Fire, Lighting, and Explosion are typically always covered in the event of a claim.

If you have questions about your insurance coverage, or would like to review your current policy, please contact us today.

780.484.8880

[email protected]

www.ligroup.ca

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