Choosing home insurance
The procedure
Fire, theft, water damage, extreme weather events… these are just some of the many reasons for taking out home insurance. Fortunately, the procedure is simple: you just have to contact your broker who’ll make sure that you obtain the best coverage that matches your situation and needs. In practice, insurance differs depending on whether you’re a homeowner, a tenant or a condo owner.
If you’re the homeowner
If you are the owner-occupant of your home, your home insurance covers the residences that you partly or totally occupy. This means that your house, your outbuildings (e.g. your storage shed) and your furniture are insured. Your home insurance also includes a civil liability guarantee that covers you against injury involuntarily caused to someone else, whether on your property or not. This type of insurance can also cover additional living expenses if your home becomes uninhabitable due to a major disaster, in which case you will be temporarily housed and fed at your insurer’s expense.
If you’re a tenant or condo owner
If you’re a tenant, your home insurance is similar to the landlord’s except for structures that are their responsibility (for example, the building roof). And if you’re a condo owner, your home insurance covers your unit, whereas the other units, the common areas and the building as a whole are covered by the condominium corporation’s insurance.
