Edmonton Real Estate Blog

Your house is one of the biggest investments you would ever have in your lifetime so it is but right to protect this valuable investment in the best way possible. Here at Team Leading Edge, we care not only in assisting you find a home in Edmonton but also in helping you protect against the loss of it.

Home insurance is the best form of protection against any unforeseen tragic events towards your home, here are 5 of the most important things to remember when getting home insurance.

1. AMOUNT OF COVERAGE: Any disastrous event towards the home can be well compensated by choosing the right coverage. The amount of coverage an insurance policy would get is most of the time decided by the home insurance provider, they usually require homeowners to purchase a policy that would be equal to the amount of mortgage.

   Like life insurance policies, the bigger the amount of coverage, the higher your premium would be.

   

2. VALUABLE ITEMS = EXTRA INSURANCE: There is a certain limit to your home’s insurance coverage. If you keep pricey items such as expensive paintings and jewelries, it is advisable that you purchase additional amount of coverage for this special items.

   

3. ADD SECURITY SYSTEMS: An alarm system provides two beneficial things; it would protect your family and might contribute in lowering the premium you have to pay for the insurance coverage.

   Provided that you could prove that an alarm system is regularly tracked, certain insurance providers will give you a hefty discount since they will consider you as a low-risk client.

   

4. CLAIM PROCESS: Don’t just sign on the dotted line, one of the most important things that you should keep in mind is to understand the process of claiming your coverage. Take note to double check if the contract specifies that you will get your compensation in portions or in lump-sum.

   Bottom line, understand the insurance contract and if you have doubts or questions, clarify it immediately with the insurance agent/broker until you are satisfied. If something seems off, move on to the next insurance provider.

   

5. ANNUAL CHECK-UP OF INSURANCE POLICY: As you add more features and home improvements over time that kind activity tends to create more value to your home. It is prudent to check your insurance policy every year in order to analyze if you have sufficient coverage. Schedule an annual meeting with your insurance provider to go through any revisions of your policy.

Remember, there are some things in life that are beyond your control, so being thoroughly prepared for unforeseen events is the best possible way to counter its negative impact.

Team Leading Edge can assist you in choosing the right home insurance provider in Edmonton. Call the team now at (780) 634-8151 to get you started.