life insurance in ontario canada

life insurance in ontario canada
Most likely your home insurance policy covers the four basic areas that all plans will protect you for. In other words, any damage that is caused by weather, for example, to your home or other structure on your property will be covered. So, should the unfortunate event of someone being injured or even dieing occur on your property, you will be covered against any lawsuits conséquent. If any of your home's contents are damaged or stolen in a burglary you will be covered to replace them, and finally, should you be put out of your home for a period of time due to a fire, say, you would be covered for the extra expenses involved.

As with most financial matters, home insurance is usually not as simple as this and it pays to read the fine print of your policy. You are almost certain to find one or more gaps may mean that certain events are not included in the broad front. So, what are the common gaps you need to look out for?

A very well-known example for a home insurance gap refers to the coverage in connection with the construction of structures on your property. Perhaps you find that termites have destroyed the foundation of your home and needs to be repaired. That will not be cheap, and so home insurers may be reluctant to cover the costs, since they argue that the termites were well before the insurance agreed.

If you live in an area that is vulnerable to natural disasters such as hurricanes and floods then th next gap, we are of interest to you. Especially since the great disaster of Hurricane Katrina, basic home insurance is not enough to protect your home and its objects from the effects of violence. You will probably need to pay extra for this, more so if you live in a high risk of the country. What is interesting is that if your home is flooded because of bad weather, then you are not entitled to a claim, but if the tide is through pipes to burst, it would.

Many people are caught off-protection when a natural disaster occurs, so it pays to read the fine print and, if necessary, the additional coverage to protect against heart pain later.

Andrew McNaught is a successful webmaster and publisher of Best Insurance Advice where you can find out more about home insurance and other types of insurance.