Take the time to familiarize yourself with the exclusions included in your policy that your insurance company will not provide coverage for, so you can avoid nasty surprises.
Don’t wait until you need to make a claim on your home insurance policy to familiarize yourself with what is—and isn’t—included as coverage. Even the most comprehensive home insurance policies exclude a number of circumstances and perils, as they are deemed to be uninsurable risks.
Most basic home insurance policies sold in Ontario contain similar exclusions, which are generally predictable or preventable events. The details may differ slightly between insurers; however, several categories of exclusions are common to all insurance companies and all policies, including comprehensive coverage.
Home insurance exclusions typically include:
If there is a particular situation or peril that concerns you, ask your insurance expert about coverage options for it, known as endorsements. To protect your home against generally excluded perils, such as earthquakes, sewer backup, and floods, you may be able to purchase optional coverage. There’s no harm in asking for a quote to add an endorsement to your homeowners policy and then decide if it is worth it or not.
Whichever type of home you live in, and whatever your lifestyle, our home insurance experts would be happy to answer your questions and provide no-obligation quotes for your consideration.
To be sure what coverage and exclusions are in your homeowner’s insurance, feel free to ask the insurance experts at Mitchell & Whale about your policy. Give us a call at 1-800-731-2228 or email us at firstname.lastname@example.org; we’d be happy to talk with you.