What situations affect your homeowners policy?
There are certain situations that can affect your homeowners policy, so it is wise to contact us if you are unsure if your insurance company should be notified of a change or not. The following are some examples of these situations along with some limitations on your property policy.
Child away from home: If your children normally reside with you, but are away from home attending school, your home insurance policy will protect their belongings. Your policy automatically extends its contents protection to your children's belongings, up to a maximum dollar amount. If you want to know what the limit is on your policy, please contact us.
Moving: You must advise us before you move as most insurers will automatically insure your old home, your contents in transit, and your new residence for a period of time, for example, 30 days. However, the insurer must also agree to insure your new property for this coverage to apply. You will need to contact us to provide details of your new property prior to your move.
Travelling: Your insurance policy will cover your personal property while you're away from home. But there will be a limit based on a percentage of the value of your personal property.
Bicycle coverage: If you own a bicycle, it's covered by your property insurance policy, however in most cases bicycles are subject to a maximum limit.
Automobile coverage: Your automobile is not covered by your personal property policy. You will need to get a separate auto insurance policy.
Contents inside your vehicle: In most cases coverage for the contents of your car is covered through your property policy.
Limitations in coverage: All policies include limitations in coverage for items such as jewellery and furs, business property, bicycles, money, boat and motor. If you have any of these special items, you'll want to consider adding additional coverage to your policy.