What Options Can I Add to a Home Insurance Policy?
A basic home insurance policy does not include every scenario. Discuss your situation with your insurance broker so you are adequately covered. The add-ons to your home insurance policy can include the items below, which may save you hundreds to thousands of dollars, depending on where you live and what you own.
Sewer-Back up & Overland Water Insurance, you may want to consider adding sewer back-up and overland coverage for extra protection.
Sewer back-up is water damage from the back-up or escape of water/sewage from a sump pump, sewer or septic system.
Overland insurance, sometimes referred to as flood insurance, may cover you if surface water enters your home through a window or door. Individual insurance companies define overland water insurance differently, but in general, it may provide coverage for damage from an overflowed lake or river, or the sudden overflow of water from surface waters (rainfall, thaw).
Umbrella Liability Insurance
Umbrella liability insurance gives you an extra cushion of protection if the worst happens. A good example is if your home insurance policy has $2 million in personal liability insurance, a visitor is injured and requires $4 million in lifetime care, your umbrella policy may cover the $2 million remainder.
Earthquake insurance is not required in Canada but it’s a home insurance policy add-on that will give you peace of mind.
Valuable Articles Insurance
If you have pricey items including jewelry, art, antiques and other valuables, it may be worth the extra insurance to protect your personal stuff. Valuable articles insurance may limit the number of personal belongings you can insure but does not include a deductible.
Remember, every home is unique. Your home insurance policy will differ from your neighbor’s policy. If you have any questions, please reach out to a Rhodes & Williams broker. Our job is to help you find what you need —quickly and easily