Types of Home Insurance

• Structure of your home - covers the repair or rebuild of your home if it is damaged or destroyed by an insured disaster;
• Personal belongings - covers furniture, clothes and other personal items that are stolen or destroyed by an insured disaster;
• Liability protection - covers you and your household against lawsuits for bodily injury or property damage;
• Additional living expenses - cover hotels, meals and related expenses in the event you are temporarily unable to live in your home due to an insured disaster.

Seasonal properties that are owned and used by you, the insured, on a seasonal basis can be insured either Separately or Added to your current homeowner policy.

Tenant Insurance comes with liability coverage. This protects you against anybody getting hurt in your apartment which then will cover medical or legal expenses incurred. Also, if you own a pet and it hurts one of your visitors, this insurance would cover that as well. Tenant insurance covers also damages from severe weather or fire and if someone breaks in. Who knew!

When you get Tenants Insurance make sure you know what it covers and what it doesn't, so you do not have any surprises if something happens. It all depends on your specific needs.

Improvements and Betterments that you make on your unit will increase the value of your Condo. These increases in value are not recoverable under the Condominium Corporation's building policy. You will need to have extra protection on your own Condominium Insurance for those improvements and betterments.

No Overlap or Risks - GoToinsure wants to make sure that your personal protection and your Condo Corporation protection don't overlap. You do not want to overpay for unneeded Condominium Insurance and most importantly, you do not want to be at risk of not having enough coverage. Please verify with your Condo Corporation the details of their coverage.

The Condominium Act requires that they purchase a single amount of insurance in its own name to cover:

• The value of the building (as it was originally constructed), including the value of those units owned by its members.
• The value of the common elements (Parking area, Landscaping, Recreational Areas).

Loss Assessment Coverage - This protects you if the Corporation's policy is inadequate to cover a loss to collectively owned property, a special assessment may be imposed against each unit owner. This could occur because of:

• Under-insurance.
• Application of a co-insurance penalty.
• Cause of loss that is specifically excluded under the Corporation policy.
• Breach of policy conditions.

Inventory - Make a list of what you own in your condo to make an educated decision on what you need for your Condo Insurance protection.

Here are a few of the considerations that are unique to High-Value houses and require superior insurance protection and specialized service:

• Custom Construction
• Custom Materials
• Valuable Jewelry
• Unique and Valuable Paintings, Sculptures, Prints and Other Fine Arts
• Collectible
• Important Papers and Documents