Tips, Articles and FAQs on Buying Home Insurance in Canada

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  • What to Ask for when Shopping for Home Insurance
    In a worst case scenario, when an accident happens and you actually need to make a claim on your home insurance, are you confident that you will get the kind of coverage you really need?

    Given the huge assortment of different coverage options that are offered by Canadian insurance companies, it is no surprise that most consumers are often thoroughly confused as to what their policy actually covers.  In the event of a disaster, is your coverage sufficient to provide the peace of mind you need?  In order to put yourself at ease and be confident in the knowledge that you are covered for anything that can go wrong, you should consider asking the following key questions before you purchase your policy.  Any reputable home insurance company will be more than willing to answer the following questions for you.
  • 8 Ways to Save on Your Home Insurance
    For many people, the cost of their home insurance premiums may seem to grow year after year.    This equates to an ever tightening strain on many homeowners' annual budgets, and can be a real difficulty.  However, it may actually possible to reduce the cost of your home insurance premiums considerably, if you know how to go about it.  These tips will help you try to reduce your rates!
  • Top 5 Things to Remember About Buying Home Insurance
    Your home is likely the biggest investment you'll ever make, so it makes sense to protect it.  In Canada, you need to hold some form of home insurance to secure a mortgage, but there are questions you need to answer before you buy.  How do you know how much insurance you need?  What perils are covered under your insurance policy and which ones aren't?  Home insurance may seem difficult to understand at first, but with a little bit of knowledge you'll be able to make the right decision to protect your home and your family.
  • Top 5 Things Parents & Students Should Know About Tenant Insurance
    With fall fast approaching, students will soon be leaving their parent's homes to move to their new lodgings on or near their university campuses. If you're one of them, or a parent or guardian of one, you should know that an important but often overlooked way to protect both their possessions and financial health is to make sure that you have tenant insurance.
  • The Difference between Home Insurance and Mortgage Insurance
    Contrary to what some people think, home insurance and mortgage insurance are not the same thing!  Read on to learn about each type of insurance and the difference between the two.  When people think of home insurance and mortgage insurance, often they assume that they are the same, or at least very similar.  In fact, they are completely different and address two different insurance needs. Let's have a look at each one and explain the differences.
  • How to Choose the Right Amount of Home Insurance for your Needs
    Choosing the right amount of home insurance can be tricky. There are a number of variables to keep in mind to get the right package for you and your family. There are some key points to keep in mind that will make the choice easier. Home insurance can be a bit of a mystery, especially if you're a first time home owner. Fortunately, it's not that complicated, you just need to keep a few points in mind.
  • Home Insurance and Your Home Warranty
    If you buy a new home in many parts of Canada, you're required to have a home warranty.  Knowing some of the basics of the home warranty process can help protect you and your home.  Here's how it works.
  • Home Insurance 101 – What you need to know before you buy
    Mortgage companies in Canada require you to buy home insurance to cover (at a minimum) the balance of your mortgage should your home need to be replaced or repaired due to fire or other damage. But all insurance policies are not created equal. Here's what you need to know to help you find the right home insurance for you and your family.
  • 7 Ways to Save Money on Home Insurance
    Home insurance is a necessary expense for everyone who owns a home. If you're like most people, you want the best coverage, but you also want to save as much money as you can. Home insurance is mandatory for anyone wanting to get a mortgage from a Canadian based financial institution. It's important to get the right policy for your needs. But we all would like to save some money at the same time. Here are seven ideas for saving money on your home insurance premiums.
  • Your Top Five Home Insurance Questions Answered
    Home insurance is often a source of many questions. There are so many options and possibilities for protection that consumers often end up with questions about their coverage. Find out the answers to some commonly asked questions about home insurance coverage, and make sure you know the details about your policy before you find yourself at a loss and looking for answers and reimbursement on a claim.
  • What Every Canadian Should Know About Home Insurance Policies
    Home insurance policies can vary widely in many ways, including what losses are covered, how much the deductible is, and the coverage limitations. Understanding your home insurance policy thoroughly can help you decide which policy is the best to protect your property and your family. Here are the basic components that make up most home insurance policies.
  • Simple Answers to Five Commonly Asked Home Insurance Questions
    Questions about liability can be tricky when it comes to home insurance, but making sure you're covered is important.  Check the details of your home insurance policy to see what your coverage is like, and if you're not satisfied with what you have, you can always shop around for a new home insurance quote to secure a policy at a great rate.  The answers to these frequently asked questions can help you make sure that you have the knowledge you need to make the best decisions about your home insurance.
  • Home Insurance – Your Questions Answered
    Your home is likely the largest purchase you'll ever make.   Your home is your refuge, a place to put down roots, entertain your friends and raise your family.  Buying proper home insurance coverage protects your home and your belongings from loss due to accidents, damage, and theft.  You may have questions about home insurance - and you should have the answers before you find yourself in a difficult situation.  Here are the answers to some of the most commonly asked questions about home insurance in Canada.
  • Facts Every First Time Canadian Home Buyer Should Know About Insurance
    Buying your first home is a big decision, and when you decide to buy, you also need to secure home insurance. Not only does home insurance protect you from financial liability should something happen to your home, property, or contents, it's necessary to secure a mortgage. Your home insurance policy gives your mortgage provider the protection they need against risks to your property that could compromise its value. You may be tempted to sign up for the first policy that you're quoted, but just like car insurance, it's important to ensure that you are getting the right coverage for you, your family and your possessions at a reasonable price.
  • Sending Your Child Off To School? Make Sure You’re Covered!
    It's finally time for your son or daughter to leave the nest and go off to school, but as they're packing up all their worldly possessions, you need to take the time to review your insurance policy. Why? Your child will want to take everything with them - clothes, books, and electronics - and if anything is stolen or damaged you'll likely be the one footing the bill. Luckily, most home insurance policies will provide some coverage - but learn the limitations before you let your child leave with everything, otherwise you could be disappointed when you have to make a claim.
  • Understand the Basics of Your Home Insurance
    Whether moving into a new home, or considering changing insurance coverage, understanding the basics of home insurance is crucial in helping you make the right decisions. You need to know exactly what each home insurance policy covers before deciding on which home insurance quote best suits your needs.
  • Top 10 Tips To Save On Home Insurance
    Home insurance protects your most valued possessions, but that doesn't mean that it should cost more than it has to. Following these helpful tips and getting multiple home insurance quotes will help you reduce your home insurance costs - just watch the savings add up!
  • Top 7 Tips Make Your Home a Safer Place
    Your home will likely be the largest single purchase that you ever make, which makes protecting it from loss paramount, both as an investment and for the safety and comfort of your family. Home insurance is an important part of making sure that your home and possessions are as safe as possible. When applying for home insurance quotes, you may be asked a number of questions to assess the safety and security of the dwelling, and your answers will affect your home insurance premiums. The following tips will help to make your home a safer place and could reduce your insurance rates.
  • How to Compare Home Insurance Quotes
    It's that time of year again, and your home insurance is up for renewal. But are you sure you want to renew the same policy with the same company? It may seem like a lot of extra work to get and compare quotes, but a little bit of time may save you lots in the long run. Rushing through your renewal may cost you an opportunity to save on your insurance premiums or to improve the protection on your home. You should reassess your insurance needs annually (preferably when your policy is up for renewal) and ensure you're getting the best fit for your home insurance needs.
  • Home Insurance: Calculating Replacement Cost
    Home insurance is the most important protection you can have against total loss of your biggest investment. Your home insurance policy will be the only avenue you have to replace your personal belongings in the case of fire or damage which could result in losing everything. You need to ensure your coverage is adequate and you need to have an inventory of your material possessions. Too often, after a loss, you're faced with listing all of your possessions after the fact, which could result in missing items or details and could mean that you are responsible for replacing any missed items or pay for upgraded items yourself.
  • Get the Truth About Home Insurance
    Whether buying your very first home, moving into another home, or just renewing your home insurance policy, it helps to know the truth about the industry's top misconceptions about home insurance. By fully understanding home insurance policies before you start making quote comparisons, you'll be more comfortable choosing the right policy to protect your home and belongings.
  • 5 Reasons Why You Need Tenants Insurance
    It's no secret that insurance is vitally important to protect you in the case of emergency or an accident. Yet, many renters fail to purchase tenants insurance. Similar to home insurance quotes, quotes for tenants insurance (also renters insurance) depend on many variables. However, the good news is that tenants insurance tends to be far less expensive than many other types of home insurance policies, because it doesn't include coverage on the actual building (which tends to be the bulk of home insurance costs).  Considering the relatively low cost of tenants insurance, not carrying coverage is an unnecessary risk.  Here are the top misconceptions about renters insurance and why you need a policy to protect you.
  • How To Protect Your Valuables

    If disaster were to strike and all of the valuables in your home were stolen, would you be able to report the details of all your belongings to your insurance company?  You likely have some idea of all the valuables in your home and their appropriate costs, but do you have all of the necessary supporting documentation?  Moreover, do you know which of your valuables are covered under your policy?   To make sure you are prepared in the event of a loss follow these key steps.

  • Key questions to ask when shopping for home insurance

    In the unfortunate scenario where you had to make a home insurance claim, would you be confident that you had the right coverage?   Given the wide variety of coverage options offered by insurance companies, it is perhaps not surprising that so many consumers remain confused about what their policy covers and whether it is sufficient for their situation.  To help put your mind at ease, the following are some of the most important questions worth asking your insurance professional when shopping for home insurance.

  • Is sewer back up covered under your homeowner’s policy?
    Spring is just around the corner, and with spring comes rain and rapidly melting snow. These events can cause a back up of wastewater in the sewer system, which may find its way into your home, leaving your basement damaged and your possessions ruined.
  • Is your jewelry insured?
    With Valentine's Day just around the corner, you may be thinking about getting that 'special someone' a piece of jewelry or perhaps even popping the question with a lovely diamond ring. But did you know that your homeowner or tenants policy may not provide you with adequate insurance coverage for your jewelry?
  • Insurance tips for homebuyers
    Perhaps you're thinking about buying a home in that older, more established neighbourhood you love. Know that if you're going to have a mortgage on your home, you are going to require home insurance. And also know that insurance companies require that certain upgrades be made on older homes before they will offer coverage.
  • Extreme weather damage and your home insurance
    Throughout this past summer, Southern Ontario endured a string of violent thunderstorms and tornadoes, leaving a path of widespread destruction that's ruined numerous buildings and homes.  For many of the homeowners, insurance will cover most, but not all, of the repair costs as a result of the weather related damage.
  • How to report a home insurance claim
    It's a situation no one wants to live through: you come home from work and the front door is ajar. Inside, you discover your personal items missing, a big mess and it dawns on you — you've been robbed. This is exactly what InsuranceHotline.com account manager Samuel David experienced this past June. In this article, he'll answer the most common questions you'll face if you find yourself in this situation.
  • Home Insurance Coverage
    All home insurance policies generally cover two main areas, Property and Liability. Property insurance includes your house and any detached structure located on your premises such as a shed or garage.  Your family's personal items are covered whether damaged in your home, car, or temporarily away from your residence.  
  • Home insurance quiz
    Knowing what your home insurance policy does — and does not — cover can make a world of difference in terms of how you'll end up dealing with a potentially difficult situation. So go ahead and test your knowledge by taking our quick and easy quiz...
  • Taking Inventory For Your Home Insurance? A Picture Is Worth A Thousand Words
    Having appropriate home insurance coverage is critical for your protection in the unfortunate event that something happens to your valuables, but what is the best and easiest way to document your possessions?
  • Preparing Your Home for Your Vacation
    When planning a vacation, most people search for the cheapest airline ticket and for a hotel with the best reviews, but the majority of vacation planners fail to take the necessary precautions to secure their home. Thieves prey on homes that appear unoccupied for extended periods of time.


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