Find competitive insurance products for your Bridgewater home
Give your home the protection it deserves with Bridgewater home insurance. Many Nova Scotia residents choose to purchase homeowner’s insurance, even if it isn’t required. Why? Due to the peace of mind it provides. For those that don’t know, most home insurance policies aim to safeguard your home and its contents from property damage, theft, lawsuits, and more. It also gives you the peace of mind that your insurance company will find you somewhere to stay while completing the repairs to your residence in the event of a claim. We break down what Bridgewater home insurance typically entails below:
1. Dwelling coverage
Dwelling insurance is a key part of many homeowner’s insurance policies. It covers the structure of your physical home in Bridgewater, Nova Scotia (e.g. the building - not the land or contents). If your Bridgewater home is damaged by a covered loss (broken down below), your dwelling coverage can protect you. A few examples of perils that dwelling insurance typically protects against are:
- Car / aircraft impact
- Falling objects
2. Contents coverage
Whereas dwelling insurance is focused on protecting the physical structure of your Bridgewater property, contents coverage does the opposite. It is intended to safeguard the valuable contents inside your home (e.g. your personal belongings). Furniture, clothing, electronics, jewellery, sporting equipment, and more are just a few examples of items that this type of home insurance coverage may cover in the event of loss or damage.
3. Personal liability coverage
Personal liability coverage is another type of insurance that is often included in Bridgewater home insurance policies. It comes in handy if a third party injures themselves while on your premises. If such an incident occurred, you as the homeowners could be held liable, which means you might even have to pay for all sorts of associated costs, like legal and medical fees. But if you purchased a Bridgewater house insurance policy that includes personal liability coverage, this portion of your plan may help cover such expenses. Personal liability coverage may also safeguard you in the event that your property causes damage to a neighbour’s property.
Additional property coverage to meet your insurance needs
The reality is that standard home insurance is not enough for all Bridgewater homeowners. Depending on your risk aversion and the value of your property, you might wish to buy additional coverage to protect your home. Luckily, many insurance brokers in Nova Scotia offer extra coverage options for such policyholders. From business coverage and equipment breakdown coverage to sewer backup coverage, we outline three types of property insurance coverage that Bridgewater residents may wish to take advantage of:
1. Equipment breakdown insurance
Equipment breakdown insurance is one example of extra property insurance coverage that can provide peace of mind to Bridgewater homeowners. If you add this type of insurance to your policy, you may be protected if a piece of equipment in your home experiences a sudden or unexpected failure. Though coverage varies between insurance providers, equipment breakdown insurance may apply to a wide range of common household equipment like washer/dryers, kitchen appliances, HVAC units (air conditioners, furnaces, heat pumps, and more), and home security systems. Although equipment breakdown insurance is not typically part of basic Bridgewater home insurance policies, this extra protection can be worth it for many residents (especially given how costly it can be to fix or replace a broken washer or heat pump).
2. Sewer backup insurance
Sewer backup insurance may also be important for some Bridgewater homeowners. Adding this coverage to any homeowner’s insurance policy means that if your home suffers damage from a sewer backup, your insurance company might step in to help cover the costs. This also means that you are not stuck cleaning up sewage in the event of a backup.
3. Commercial business insurance
Commercial business insurance coverage is another type of coverage that could be worth adding to your Bridgewater home insurance policy, especially if you operate a business out of your home. It is important to note that most standard homeowner’s insurance policies in Nova Scotia do not provide coverage for damage or losses that arise as a result of business operations. Thus, if an incident occurred due to the operations of your home business, your house insurance policy may not cover it unless you had previously added a business insurance rider or endorsement to it.
We wish to note that the home insurance coverages listed above are most often added as riders or endorsements to existing homeowner’s insurance policies in Bridgewater. Contact BrokerLink to speak with an expert insurance advisor who can offer their professional opinion on what types of coverage are right for you.
What may not be covered by your Bridgewater home insurance
Home insurance policies are not all-encompassing. This means that they have limits. Although they can protect your home from a wide range of risks, there are some circumstances that home insurance policies typically do not cover. For example, if your home is left vacant or is undergoing renovations and is damaged during these times, your provider may not cover it. For this reason, before purchasing a Bridgewater home insurance policy, make sure to carefully read the terms and conditions (you can also contact an experienced insurance broker to explain your policy to you). To shed some light on what many home insurance policies do not cover, the experts at BrokerLink have put together a list of circumstances in which your provider might be able to void your coverage:
Renting out one’s home for short stays is now very common throughout Canada, thanks to home sharing platforms like Airbnb and VRBO. While home sharing can be a lucrative income stream, it also increases your risk as a policyholder. For this reason, many home insurance plans refuse to cover damage or losses that occur as a result of home sharing. So if you plan to rent out your home for any length of time and want to be covered by your home insurance policy while renters are staying there, be sure to speak with your insurer in advance. You may need to add extra coverage or purchase a new policy to ensure you have the protection you need.
Leaving your Bridgewater home vacant for long periods of time (e.g. more than 30 consecutive days) can lead to a void in coverage. If your home will be empty, you must contact your insurance company as an empty home increases your risk and can therefore influence your insurance rates. Your advisor will be able to tell you what steps you need to take to avoid the denial of a claim while you are away. If you fail to contact your insurer and a loss or damage occurs while you are away, your existing Bridgewater house insurance policy may not cover you, which means you would be responsible for covering any associated costs out-of-pocket.
Failing to maintain
The third reason your Bridgewater home insurance plan may become void is if you neglect the maintenance of your property, allowing it to fall into a state of disrepair. For example, if your roof is missing shingles which causes water damage, your insurance provider may refuse to pay for the damage, or no longer insure your home altogether, leaving you to pay for the necessary repairs on your own.
Finally, your Bridgewater home insurance policy may not cover you if damage occurs during or due to a home renovation. So if you have plans to update your home, contact an insurance broker or agent in advance. Many Bridgewater homeowners fail to realize that updates like renovations can impact your homeowner’s insurance premium.
How to lower your home insurance premiums in Bridgewater
Home insurance should never break the bank. That is why BrokerLink Bridgewater is dedicated to finding you the best possible coverage at the lowest possible price. We do that by shopping around and comparing rates on your behalf, unlocking discounts you never knew you were eligible for, and providing you with top-notch advice on how to save money on Bridgewater insurance. In fact, our team of licenced home insurance brokers has compiled a few money-saving tips below. Check them out and avoid overpaying for Bridgewater home insurance ever again:
1. Install a security system in your Bridgewater home
Installing a security system in your Bridgewater home is one way that residents can save money on home insurance. Some insurance providers in Nova Scotia offer discounts to homeowners that install certain types of security systems on their properties, due to the extra safety they provide. Contact BrokerLink to learn more about the specific types of security systems that may allow you to qualify for a home insurance discount in Bridgewater.
2. Bundle home insurance + commercial insurance or car insurance and save
Another way to save money on Bridgewater home insurance is to bundle multiple policies together. By purchasing more than one policy from the same provider (whether you wish to buy home insurance + auto insurance or home insurance + business insurance, or even two different types of home insurance), you can up to 15% per policy.
3. Increase your policy deductible
Increasing the deductible on your Bridgewater home insurance policy is another quick way to save money on home insurance (or any type of insurance, for that matter). Whether it’s car insurance, commercial insurance, or home insurance, raising your deductible typically translates to a lower rate. That said, before raising your insurance deductible, you must understand what a deductible is and the consequences of raising it. For example, the higher your deductible, the more you will have to pay toward an insured loss in the event of a claim, so you should never increase your deductible to an amount above your means. Get in touch with BrokerLink Bridgwater for more information and expert advice on home insurance deductibles and insurance requirements.
4. Pay for your Bridgewater home insurance policy annually rather than monthly
Another way that Bridgewater residents can save money on home insurance is by paying for their policies annually rather than monthly. Many insurance companies charge administrative fees for each payment you make, which is why paying for your insurance policy in one installment rather than twelve installments can save you money. So if you have the option of paying for your Bridgewater home insurance policy monthly or yearly, make sure to check the fees associated with each.
5. Avoid buying a house with a pool
If you want to save money on home insurance in Bridgewater, do not buy a house with a pool. Swimming pools, especially those that are unfenced, are a major liability risk. This means that your home insurance premium is likely to be higher if you have a pool in your backyard.
6. Buy a house near a fire hydrant or fire station
Some insurance providers offer discounts to policyholders whose homes are located near emergency services, such as fire hydrants or fire stations. If you’re interested in saving money on home insurance and live near a fire station or other emergency service provider in Bridgewater, notify an insurance broker. They can let you know of the specific conditions that need to be met to qualify, and if you qualify, you may be eligible for a home insurance discount.
7. Consult with a BrokerLink insurance broker in Bridgewater
One final tip for saving money on home insurance in Bridgewater is to enlist the help of a BrokerLink insurance advisor. BrokerLink has a team of fully licenced brokers, each of whom is committed to providing the best insurance advice and matching our customers with the best possible coverage. We will take the time to understand your unique needs and will dedicate ourselves to finding a Bridgewater home insurance policy that suits them. In addition, we take care of everything, which makes shopping for Bridgewater home insurance a breeze. Ultimately, if you want an insurance expert that will help you navigate the complex world of home insurance and save you both time and money, get in touch with BrokerLink Bridgewater now.
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At Bridgewater BrokerLink, we’re here to help you with any insurance needs you may have. Whether it’s insuring your home, car, business, recreational items, or pets, let our insurance specialists help you find the best coverage possible.
You can reach us by phone, email, or in person at any one of our locations throughout Nova Scotia. No matter how you choose to get in touch, a BrokerLink insurance advisor will be happy to assist you. We also encourage you to take advantage of our free online home insurance quote tool that can provide you with a competitive quote in minutes.
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FAQs on Bridgewater home insurance
What are the benefits of Bridgewater home insurance?
The primary benefit of Bridgewater home insurance is the protection it offers. With the right coverage, Bridgewater residents can protect their homes from property damage caused by fires, hurricanes, water damage, and more, as well as theft and third party liability claims. Depending on the coverage you choose, it may also protect against sewer backup, equipment breakdown, and business use. Therefore, having a home insurance policy benefits Bridgewater homeowners because it can help them avoid paying for costly losses or damages out-of-pocket.
How much does a Bridgewater home insurance policy cost?
The cost of Bridgewater home insurance varies greatly since insurers take into account a wide variety of factors when calculating insurance rates. A few factors that can influence how much a policyholder pays for a home insurance policy in Bridgewater include their claims history, the address of their property, the value of their property, the size of their property, the number of people who reside in their property, and the deductibles, policy limits, and coverage types they choose.
I recently bought my first home in Bridgewater. What type of home insurance do I need?
Unfortunately, the answer to this question is not straightforward, as it depends on the specific characteristics of your property, as well as your personal preferences and risk level. As home insurance is not government-mandated in Nova Scotia, Bridgewater homeowners may be free to choose whatever policies and coverage they wish. That said, most homeowners choose to purchase a home insurance policy that includes the standard coverage at a minimum (e.g. dwelling insurance, contents insurance, and personal liability insurance).
For more FAQs, visit the BrokerLink FAQs page.
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