Home Insurance in Cornwall

Cornwall basic home insurance coverage

There is no better way to protect your Cornwall home than with home insurance. The right house insurance can safeguard both your home and its contents from common risks like theft or property damage. Many Cornwall home insurance policies also protect against third party liability claims. Keep reading to learn more about what basic home insurance in Cornwall typically covers:

1. Dwelling coverage

Dwelling insurance is an integral part of many house insurance policies in Ontario. It covers the building and structure of your physical home in Cornwall. . In the event that your Cornwall property is damaged by a covered loss (explained below), the dwelling coverage portion of your policy can protect you. Examples of perils that dwelling coverage may protect against are as follows:

• Fire
• Lightning
• Smoke
• Theft
• Wind
• Car / aircraft impact
• Explosion
• Falling objects

2. Contents coverage

Where dwelling coverage is focused on protecting the physical structure of your Cornwall property, contents coverage is centered on the opposite. Instead, it is designed to safeguard the valuable contents housed inside your property (e.g. your personal belongings). Furniture, clothing, electronics, jewellery, sporting equipment, and more are some examples of items that this type of homeowner’s insurance coverage may compensate you for in the event of loss or damage.

3. Personal liability coverage

Personal liability coverage is one final type of insurance that is often included in Cornwall house insurance policies. It can be useful if a third party injures themselves while on the premises. If such an incident occurred, you as the homeowner could be liable, which means you might be forced to pay for the associated costs, which may include legal and medical fees. But if you purchased a comprehensive Cornwall home insurance policy that includes personal liability coverage, this portion of your plan may help pay for such expenses. Please note that personal liability coverage can also protect Cornwall homeowners in the event that their property causes damage to a neighbour’s property.

Additional house insurance coverage for Cornwall homes

There are some circumstances where basic home insurance coverage is not enough. Whether your home is high in value or you simply want greater peace of mind, many Cornwall homeowners prefer to add extra coverage to their home insurance policies. Coverage options vary by insurance provider but may include the likes of business coverage, equipment breakdown coverage, and sewer backup coverage. We outline these additional home insurance coverage options below:

1. Commercial business coverage

Commercial business insurance is one type of coverage that might be worth adding to your Cornwall home insurance policy, especially if you run a home business. It is worth noting that most standard homeowner’s insurance policies in Ontario do not compensate policyholders for damage or losses that arise from business operations. In other words, if an incident occurred due to your home business, your Cornwall house insurance policy may not cover it unless you had previously added a business insurance add-on or rider to it.

2. Equipment breakdown coverage

Equipment breakdown insurance is one example of additional property insurance coverage that can provide peace of mind to Cornwall homeowners. If you include this type of coverage in your Cornwall home insurance policy, you may be protected if a piece of equipment in your home suddenly fails. Though coverage specifics vary between insurance providers, equipment breakdown insurance usually applies to a variety of common household equipment like washer, dryers, kitchen appliances, air conditioners, furnaces, heat pumps, home security systems, and more. Although equipment breakdown insurance is not typically included with basic Cornwall home insurance plans, this added protection is worthwhile for many Ontario residents (especially given how much money it can cost to fix or replace a broken appliance).

3. Sewer backup coverage

Sewer backup insurance is another type of extra home insurance that may be important for Cornwall homeowners. If you add this coverage to your homeowner’s insurance policy, and your property ends up dealing with a sewer backup, your insurance company might step in to help pay for the costs.

One last thing to note is that the home insurance coverages above are most often added as riders, add-ons, or endorsements to existing Cornwall property insurance policies, rather than purchased independently.

What may not be covered by your Cornwall home insurance policy

Home insurance policies are generally designed to protect your home, but this protection is not all-encompassing. As with any insurance policy, it has limits, which are outlined in the terms and conditions. Specifically, a policy’s terms and conditions lay out the exact parameters the coverage included, as well as some circumstances in which the coverage may become void. Cornwall homeowners must have a solid grasp of the circumstances that can void their policies if they want to avoid not being covered in the event of a claim. For example, many home insurance policies in Cornwall do not cover vacant homes, home sharing, or damage that occurs during renovations. Therefore, before purchasing a home insurance policy, be sure to carefully read the terms and conditions or contact an experienced insurance broker who can help you understand them. To provide some insight into what is not typically covered by home insurance policies, the insurance advisors at BrokerLink have put together a list of circumstances that can void your home coverage:

Home sharing

Home sharing is now very common throughout Canada, including in Cornwall, thanks to popular home sharing websites like Airbnb and VRBO. Although home sharing can represent a lucrative form of income, it also increases your risk as a homeowner. For this reason, many home insurance policies do not cover damage or losses that occur due to home sharing. So if you plan to turn your home into a short-term rental and want to be covered by your home insurance coverage while renters are staying there, you must notify your insurance provider or broker beforehand. They can advise you of limits on your existing policy and make sure you purchase the necessary protection for home sharing.

Vacant home

If your Cornwall home is empty for a long time, like more than 30 days on end, you should contact your insurance provider as soon as possible because a vacant home can increase your rates. It can be important to notify your provider as to who will be checking in on your home also, should something that could lead to a claim arise. So before you head to Florida for the winter or leave for an extended European vacation, contact your insurance broker or agent for vacant home insurance solutions. If you fail to notify your insurer and a loss or damage occurs while the home is empty, your existing policy may not protect you, which means you would be responsible for covering any related costs out-of-pocket.

Failing to maintain

Another possible reason that your Cornwall homeowner’s insurance policy may become void is if you fail to maintain your home and its condition deteriorates significantly. For example, if you fail to repair a broken or rotten board in your step, , your insurance company may not pay for the damage, leaving you to pay for the necessary repairs on your own. Therefore, it’s important to keep regular home maintenance all year-round.

Renovations

Last but not least, your Cornwall home insurance policy may not cover you if damage occurs during a renovation. Therefore, if you have plans to renovate your home, contact an insurance broker to ensure you are protected. Many Cornwall homeowners don’t realize that updates like renovations can influence the cost of homeowner’s insurance.

Tips for saving money on Cornwall house insurance

Home insurance should be affordable, and BrokerLink Cornwall strives to make it so. By shopping around on your behalf and comparing quotes, we ensure our customers receive the most competitive home insurance rates. We can also inform you about insurance discounts you didn’t even know existed and let you in on some of the industry’s best-kept secrets for saving money on home insurance. In fact, the experts at BrokerLink have compiled a list of some of their best tips for saving money on Cornwall home insurance below:

1. Add a security system on the premises

The first way to pay less for Cornwall home insurance is by adding a security system in your home. Some insurance companies in Ontario give discounts to homeowners that install specific types of home security systems on the premises, due to the extra layer of protection they offer. Get in touch with BrokerLink Cornwall for more information on the qualifying security systems and Cornwall home insurance discounts.

2. Bundle insurance and save

Another way to save money on Cornwall home insurance is to bundle multiple policies together. Many insurance companies offer discounts to customers who purchase more than one policy from them at a time. So if you are interested in buying more than one policy (e.g. home insurance + auto insurance or home insurance + business insurance, or even two different types of home insurance), why not buy them together? Doing so could save you up to 15% per policy.

3. Raise your policy deductible

Increasing the deductible on your Cornwall home insurance policy is another quick tip for saving money on home insurance (or any type of insurance, for that matter). From car insurance to home insurance, a higher deductible usually means cheaper rates. However, before raising your Cornwall house insurance deductible, it’s important that you understand how deductibles work and the consequences of raising them. For example, the higher your deductible, the more money you are required to pay toward an insured loss if you file a claim, so you should be contentious of this when setting up a higher deductible on your policies. . Contact BrokerLink Cornwall for more information and an expert opinion on your home insurance deductible.

4. Pay for your home insurance policy annually rather than monthly

Cornwall homeowners might also be able to pay less for their home insurance policies by paying for them annually rather than monthly. Some insurance providers charge hefty admin fees for every payment you make, which is why paying off your insurance in one lump-sum installment upfront versus twelve installments can save you money. So if you are given the option of paying for your Cornwall home insurance policy monthly or yearly, speak with an insurance agent about the fees that come with each.

5. Avoid buying a house with a pool

If you want to save money on home insurance in Cornwall, perhaps opt to forgo the swimming pool.Pools, especially when they are unfenced, are a major liability risk. This means that your home insurance premium is likely to be higher if your backyard has a pool.

6. Buy a house near a fire hydrant or fire station

Some insurance companies provide discounts to policyholders whose homes are located near emergency services, such as fire hydrants or fire stations. Quicker response times in the event of an emergency can ensure your home or property does not suffer as much damage. So if you want to save money on home insurance and live near a fire station or other emergency service provider in Cornwall, contact an insurance broker today. A BrokerLink advisor can let you know of the specific conditions that need to be met to qualify for this type of home insurance discount in Cornwall.

7. Consult with the insurance experts at BrokerLink Cornwall

The last way to save money on home insurance in Cornwall is to enlist the help of an insurance expert at BrokerLink. BrokerLink’s team of fully licenced insurance advisors have years of expertise, which means you can trust them to find you a great home insurance policy. We will take the time to understand your unique needs and learn about your home. From there, we will dedicate ourselves to finding a Cornwall home insurance policy that’s right for you. Plus, we take care of everything from start to finish for a hassle-free Cornwall Home insurance experience. Save time and money on Cornwall home insurance by contacting BrokerLink today.

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FAQs on Cornwall home insurance

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