As we mentioned above, every company offers a variation of a similar product, with minor differences in what is covered. For the most part, the coverages and exclusions are somewhat similar, and for the average homeowner, the differences are often nominal. The way that claims are handled by each insurer is also quite similar, as the same principles are practiced across the industry.
There are however limits and endorsements within a policy that differ from one company to the next. These differences might make a company more appealing if these limits pertain to your specific needs.
For instance, all insurance policies carry a limit for things such as bikes, cash, jewelry, and furs. A jewelry limit can range from $4,000 with some companies, to $10,000 with another. If you have a large number of jewelry items or a few valuable pieces, this limit may be a point of interest for you to discuss with your broker.
Different companies also offer varying endorsements. Home Equipment Breakdown, Cyber Risk, Service Line, and Groundwater are examples of coverages that are not available at every insurance company in the province. Your broker can help you determine if these coverages are available and right for you and your home.