Home » Home Insurance

Category: Home Insurance

Top reasons for home insurance to increase, and ways to save

Even if you’re a model customer with no claims, other reasons beyond your control could be pushing your premium up.Extreme weather events and catastrophes are more frequent. As forest fires, floods, storms, and other weather events become more frequent, they cause extensive damage, resulting in more costly claims. Municipal infrastructure is getting older. Outdated municipal infrastructure and a higher demand for water make sewer backups more frequent, resulting in more damage-related claims (...)

Read more

How to prevent a sewer back-up claim

The sound of running water can be soothing…unless that water is running somewhere it shouldn’t be, like your basement floor. Water damage is the leading cause of home insurance claims in Canada — and there are many ways unwanted water can end up in your home. One common cause of water damage is sewer backup, which happens when water begins to flow backwards into your home. Yes, this is just as unpleasant as it sounds. Not only does exposure to sewage pose a health hazard, but the clean-up process is extensive and costly (...)

Read more

Questions for home

What questions should I ask when shopping for a new house?

Whether you’re a first-time home buyer or you’ve done this all before, there’s a lot to think about when you’re hunting for a new home, and you probably have hundreds of questions bouncing around in your head. Is it in a safe, friendly neighborhood? Does it have a secure backyard where my dogs can run free? And how far away is the nearest grocery store? But have you thought about how different parts of the house itself could impact the cost of your home insurance, and even your eligibility for coverage? While you’re picturing life in a new home, don’t forget to ask some important questions about the house.

Read more

Increasing claims costs

Increasing Cost of Claims – Top Five Evolving Risks

In 2017 the insurance industry paid out $1.33 billion following a catastrophic event relating to climate change. This is the fifth time in seven years that the industry has paid over $1 billion annually for climate related losses. There are so many factors that contribute to these increasing losses that it's hard to pinpoint one issue. For water, people are finishing their basements more often, and weather events are becoming more frequent, resulting in catastrophic water losses. Thunderstorms with hail is another catastrophic event that can quickly add up, especially when gold ball sized hail is pouring down on a large city center (...)

Read more

Home Endorsements

Cover up: 5 Common Home Insurance Endorsements

Home insurance is designed to protect you and your family when you need it most — but all policies have limits and exclusions, and you may want to add extra coverage or endorsements to make sure you’ll always be protected. In the insurance world, an “endorsement” is a change to the coverage outlined in your insurance policy. It can add or remove coverage, and it overrules any wording in the policy itself. A “rider” (also known as a floater) is an endorsement (...)

Read more

Prepare your home for another cold winter [Infographic]

It's time to winterize your home! Whether you like it or not, winter is on its way and it will be here before you know it. To ensure you’re prepared for it, you need to take action now, not once we get our first snow storm. The temperature outside now is just right to get the garden and lawn ready for winter, put away your summer tools and get out your snow shovel and other cold weather tools. Winter in Ontario is a time when many of us hibernate from the cold. We enjoy warm fires, comforters, watch Netflix excessively, or just leave the country entirely in the pursuit of warmer climates (...)

Read more

Renovation Project

Is Your Home Renovation Covered By Your Insurance Policy?

Planning a renovation can be a fun and exciting time. Whether you’re re-modelling your existing space or preparing for an addition to your home, you’ll likely begin by browsing design magazines and blogs, visiting open houses and model homes, and pinning your favorite ideas to your Pinterest boards. But then there’s all that other serious stuff that needs to be done too, like planning your budget, finding the right contractors, and applying for the necessary permits (...)

Read more

Additional Living Expenses

What Is Additional Living Expenses Coverage?

Your home insurance policy can protect you from so much more than physical damage to your property and liability claims. Additional Living Expenses coverage is included in most home insurance, condo insurance, and tenant insurance policies. It can help cover out-of-pocket expenses when you’re forced to leave home because of an insured event or government-ordered evacuation (...)

Read more

home claim

How will making a claim impact the cost of my home insurance?

Your home insurance policy is there to protect you when you need it most — but you may find yourself wondering what could happen to your premium after you make a claim. As your HMS insurance broker we will provide helpful insight on how your claim will impact your policy, and provide the right course of action to get your home back in the same position it was before. There are a few things to consider before a claim is submitted (...)

Read more