Home Insurance in Pickering
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Pickering Home Insurance Quote
Property Insurance Policy Types
Types of Home Insurance
The first step in getting home insurance coverage in Pickering is selecting the correct property insurance policy. Not all policies are the same and selecting the incorrect policy type may have severe consequences. There are four main types of property insurance: Homeowners, condo, rented dwelling/condo and tenant insurance.
Condominium Insurance
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Pickering Property Insurance
If you are in Pickering over the weekend and the weather permits, have a coffee at Frenchman’s Bay Marina and then walk the Waterfront Trail! You will not be disappointed.
Pickering has been growing and welcoming more and more people. Many who lived in the Greater Toronto Areas are now choosing Pickering as their new home for the peaceful atmosphere and beautiful nature.
Protecting your home should be your number one priority when selecting home insurance coverage. With the team at Ambroziak & Rao, we can help you select the best coverage and get them at the best rate!
What Affects Your Pickering Home Insurance?
Insurance companies look at many different things when pricing out your home insurance premiums. Here is a short list:
1. Age of your home. If your home is older and needs some updates, the insurance company will charge you higher premiums or may reject you all together.
2. Prior claims. If you had claims on your property in the recent years, companies will surcharge you for that.
3. Prior insurance. If this is the first time you are getting property insurance, the company may view you as a newer homeowner and charge you a little more.
4. Finished basement. If you have a finished basement, it is important that you mention that. A finished basement means your home value is higher which will require a slightly higher premium.
5. High Flood Zone Area. If your home is in an area that is deemed a high flood risk by the insurance company, they may charge extra for water coverage, limit the water damage coverage or completely reject water protection. When getting multiple quotes from insurance companies, be sure you are quoting the same coverage.
6. Property Policy Type. As mentioned before, you must select the proper policy type for accurate rates. A standard homeowners insurance policy may be less expensive than a rented dwelling policy. Condo insurance policies are usually much cheaper than a home insurance policy.
Water Protection
Home Insurance policies do not offer water damage coverage as a standard policy inclusion. You must specifically request them.
The two most important coverages are: Overland Water and Sewer Backup.
These are the most common water losses insurance companies suffer so be sure to include them in your policy.
save More on Pickering Property insurance!
For most people, their home is their largest and most important asset. Get The right coverage at the best rates.
Home Insurance Tips
Pickering Rented Dwelling and Condo Insurance
Selecting the correct home insurance policy is the first step of obtaining a proper quote. If you are purchasing a home to rent out as an investment, you will require a rented dwelling or rented condo insurance policy.
A standard home insurance policy is created for a home owner who currently lives in that home. The insurance company assumes that the owner will take good care of the home and therefore posses a lesser risk.
The moment you have a tenant in the home and you no longer reside there, you must switch your insurance policy to a rented version. Failing to do this can completely nullify your insurance policy.
If you are planning on renting out the basement of your primary home, you may not require another policy. Simply explain your situation to the insurance company and you may only require a “rented basement” endorsement on your current policy. This will be much less expensive than a separate policy.
Save more On Home Insurance in Pickering!
Here are three tips to help reduce your property insurance rates
01
Bundle
The best way to lower your home insurance rates is to bundle with your Pickering auto insurance! Save up to 15%.
02
Shop Around
Every insurance company will offer different rates for your home. Shop around for the best one!
03
Loyalty
Insurance companies love loyal clients, if you have been with your last company for 5 or more years, you will get a better rate.
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We have been providing property insurance quotes across the entire province. Are you looking to move somewhere outside of Pickering? Get the best home insurance quote in your city. View our service areas below! We are constantly adding more!
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- Serving Pickering and the entire Durham Region!
- Monday - Friday: 10:00am - 5:00pm
- (416) 803-2113
- filipa@pbnet.ca
Filip Ambroziak
Filip Ambroziak is a RIBO (Registered Insurance Broker of Ontario) and LLQP licensed broker operating in Ontario. After many successful years in the industry, he has created a client base covering a range of small to large businesses, builders risk policies, commercial and personal auto, rented dwellings, high worth homes, dealerships, contractors, lawyers, real estate brokerages, non-for-profits and many more.
Filip is partnered with the largest and most reputable insurance companies in Ontario.