Get Literate About Home Insurance

Since November is Financial Literacy Month in Canada, it’s a great opportunity to understand a bit more about the finances we put into our homes, including home insurance. According to Insurance Bureau of Canada (IBC), half of Canadians want to better understand home insurance. Further to that, 90% of Canadians think it’s important their children learn about home insurance as well.

A responsible and profitable financial plan is all about asking the right questions so you can make informed decisions. Of course, working with a professional will always make this process go a lot smoother. So here’s some crucial questions you can ask your insurance representative, when looking into home insurance:

1. What does my policy cover?
2. Is there a specific kind of insurance for the type of home I live in (e.g., house, condo or apartment)?
3. Are there risks I can’t buy insurance for?
4. What optional coverage is available?
5. Should I make a claim for every loss?

If you’re looking for more information on home insurance and how to better educate yourself on it, you can visit the IBC website here. If you have financial questions about homebuying or home insurance, I’d be happy to share my knowledge and resources with you, so feel free to contact me.

Tags : calgary finance, calgary home, calgary home insurance, calgary mortgage, calgary mortgage broker, calgary real estate, financial literacy month