If you’re looking for a new home insurance policy, it’s a good idea to brush up on the finer points regarding this type of coverage. Aside from the basics, you should be aware of the common reasons why claims can be denied and of the advantages of securing your policy from an insurance broker.
The Home Insurance Basics
You’ll want to make sure the insurance policy you select fits your needs. This means that it should provide coverage for the types of damage you might have to deal with. If you’re looking for home insurance in Edmonton, it’s important to choose the right deductible: a lower deductible means higher premiums and vice-versa. Your deductible is the amount you are responsible before your policy will respond if you experience an insured loss.
Finding the Right Coverage for Your Needs
One reason a claim might be denied is that your policy doesn’t cover the type of damage sustained. It’s often difficult to know what types of risks are covered by your policy, which is why taking the time to choose the right one is important. By reviewing your coverage options with a knowledgeable insurance broker, you will ensure you never have the bad surprise of discovering you’re not covered for a particular type of loss.
Be Diligent About Home Maintenance
Any damage that occurs as a result of poor maintenance and upkeep of your home won’t be covered by your insurance policy. This may seem simple, but keep in mind that a small issue can snowball into a serious problem. If that problem could have been prevented by proper maintenance, chances are your claim will be denied.
Stay Up to Date on Payments and Paperwork
If you’re late on premium payments or there are inconsistencies in your application, your claim might be denied. In the event of a claim, it is your responsibility to prove your loss. We recommend keeping receipts in a separate location than your house should you have a total loss.
Our Brokers Are Committed to Finding You the Right Insurance
Finding the right insurance can be a challenge, but working with an insurance broker simplifies things substantially. If you’re in Edmonton and looking for a homeowner’s insurance policy, consider MBS Insurance Brokers. Our brokers know the ins and outs of the house insurance market in Edmonton and can help you find the best policy at the lowest possible rate. Contact us today to find out more or get a free quote.