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There’s something about a new year or season that brings about a fresh sense of change and a renewed spirit. That’s probably why now is one of the most popular times to move into a new home.

Maybe you’re a brand new homeowner, found your dream home or downsizing into a condo. Either way, changing homes means re-evaluating your insurance needs. Here are some do’s and don’ts when making the big move, and the four key parts of building a solid home insurance foundation.

Do

  • Change your homeowners or tenant insurance, and consider bundling with other existing policies.
  • Hold a garage sale, donate to charity or throw away old items to de-clutter.
  • Take an inventory of valuables in your home.
  • Consider protection for your valuables against damage during the moving process. Contents Replacement Cost pays for the cost of repair or replacement subject to loss settlement.
  • Consider hiring a moving company or asking family and friends to help pack your belongings.

Don’t

  • Make the rookie mistake of not making a large enough down payment.
  • Skip a home inspection.
  • Get lost in additional costs (i.e. legal fees, taxes, etc.)
  • Forget to notify your isure broker to change your auto insurance. Where you live affects the premiums you pay for your car!
  • Forget to forward mail to your new address and transfer cable and internet services.

isure’s four key parts of your home insurance

1. The building

This offers protection against major events, such as fire, windstorm, lightning, vandalism and other covered events. It’s important to note that flood and other water damage is usually not covered in a home policy. Check with your isure broker if you are unsure of what you are covered for.

2. Personal belongings

This covers the basics (clothing, furniture, other appliances) in a covered disaster. Other high-value and leisure items usually have limited coverage unless you have purchased additional coverage. Due to a 70% limit of the amount of insurance you have on the structure of your home, ensure that you keep an updated list of possessions and their values.

3. Personal liability

This is coverage when slip and falls and other accidents happen on your property.

4. Additional living expenses

If your home is inhabitable after an insurance claim, your insurer will likely reimburse costs from living somewhere else, meals and other incidental costs (usually at a limit around 20% of your home’s replacement costs). There are a number of additional home coverage options. To contact your isure broker, you can do one of the following:

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