You know what they say, home is where the heart is! Ask any homeowner and they will tell you that their home is one of the biggest investments they have made. In order to properly protect your prized possession, home insurance is a must. However, it can be tough to figure out where to start when it comes to inquiring about insurance for your home. What does home insurance cover exactly? Luckily, we’ve got you covered with our home insurance guide. This way, you can build your home insurance policy from the ground up without any confusion.

What is home insurance?

While home insurance isn’t mandatory in Canada, it protects your property and belongings. Most banks and mortgage holders will insist you have home insurance before they will lend a loan to purchase your home. This will protect your house from sudden damage to the exterior and to the items inside it. On top of this, it protects the personal liability of the policyholder. If you have a spouse or children, it will protect them as well.

Before we begin, it is important to keep in mind that your coverage varies on the type of policy you choose. As outlined by the Insurance Bureau of Canada, there are four main types of homeowner insurance policies:

  1. Comprehensive policy: This covers both the building and its contents for many risks that are NOT specifically excluded in the policy.
  2. Named Perils policy: This covers only those perils, such as fire, that ARE specifically included in the policy.
  3. Broad policy: This provides “all risks” coverage on the building and “named perils” coverage on its contents.
  4. No-Frills policy: This provides “bare-bones” or “no-frills” coverage for properties that don’t meet normal underwriting standards.

So, what does home insurance cover? At isure, our brokers will help you find the perfect home insurance fit with friendly service that gives you control over your policy. If you’re not sure what is the best fit for your home, contact us at 1 877-514-7873 or at for advice to set up your policy!

Why isure?

At isure, we take pride in having some of the best customer service in Ontario, as well as best rates. But if that isn’t enough for you, check out some other perks that we believe should put isure at the top of your list for insurance brokers in Ontario.

Claims free

Bad things happen, even to good homeowners. That’s why isure will give you advice on how to best protect your claims free discounts, without putting too much pressure on your wallet.

Your possessions saved

Your personal property is covered anywhere in the world. With Contents Replacement Cost, subject to loss settlement, pays for the cost of repair or replacement without deduction for depreciation.

Water damage protection

With the brutal winters and wet springs in Ontario, sometimes water damage can be inevitable. Different from flood protection, water damage protects your home with sewer back- up coverage and new overland water protection. For more information on flood and water damage, click here.

Household liability

This pays when you are legally liable for someone else’s bodily injury, such as a slip-and-fall. Additionally, you have coverage for property damage from an accident or negligent acts by you or your household members. This also includes misbehaving acts of your pets!

Medical coverage

This pays for the medical costs of people injured at your home (other than residents of your household), regardless of fault.

Ongoing expenses

If something happens to your home that makes it unfit to live in. Depending on the policy type, you may have coverage for additional living expenses for up to two years.

Additional valuables coverage

If you enjoy collecting fine art, beautiful jewelry or exotic collectibles, consider coverage of important valuables. This is also super helpful for people who have professions or hobbies that require a lot of expensive equipment, such as photographers.

Protection of identity

State-of-the-art assistance in the resolution of identity theft events, advocacy services relating to the prevention of identity theft and replacement of important documents.

Check out isure’s additional home insurance offers, such as home-based business insurance and vacant home insurance. Request a quote today!

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