inFrequently Asked Questions

But don’t worry, you still look great in a tracksuit.

Home insurance protects so much more than electronics. Learn more about what our policies cover and just how important home insurance really is.

The simple answer is no, you can’t take out an insurance policy on items you don’t own.

The longer answer is, there are two different types of insurance for a home: Your landlord’s home insurance policy (which covers the structure), and your renter’s insurance (which covers the stuff inside the home). Your renter’s insurance will provide you some coverage in the event you break something that isn’t yours, but there are limits to this. Just so you’re prepared, it’s good to check with us when you’re moving into a new place, to understand what your individual policy covers, before an accident occurs.

It’s great to hear that your neighbourhood is in such high demand, but a hot market doesn’t actually impact your home rebuild cost. That number is based on the raw material and labour it would take to rebuild it, not the property value. So you don’t need to keep getting your house re-appraised based on the housing market.

They might look all cute and cuddly, but raccoons can cause a fair bit of damage if they get into places they’re not supposed to be in. While the damages caused by these and other home invaders aren’t usually covered under home insurance policies, dealing with them quickly can reduce the risk of long-term damage.

It’s a lousy feeling to have your bike stolen, and it’s even worse when your property gets damaged in the process. If burglars do hit your home and steal your bike, the home damage and the loss of the bike are both covered under your policy, although there are some limitations on the replacement costs associated with a bike.

While you may have a beautiful backyard or lawn, the land that your house sits on cannot be claimed if anything happens to the house. That’s why you should make sure to only include the value of the home (and not the property) in your coverage. It means cheaper premiums for you, and you won’t be ‘over-insured’.

If you’re finding yourself stretched a little thin because of some far-off nuptials, one way to reduce your premiums is to increase your deductible. For example, if your deductible is currently $200, raising it to $500, or even to $1,000, can make a difference on your premiums.

Home-sharing apps have really taken off in the last few years, so it’s important to understand the extent of your coverage before welcoming a short-term tenant into your home.

While some home-sharing apps have their own policies to protect your place, that’s not always the case. If you are trying to earn some extra dough by sharing your home, make sure to contact both us and the home-sharing service that you’re using, so that you understand exactly what’s covered under the two policies, and what kind of risk might be associated with the rental.

Most instances of the loss of a wedding ring are covered under your policy, up to a certain limit. If the value of your ring (or the combined value of your jewellery) exceeds that limit, you may want to consider adding something called a floater to your coverage to insure these items.

It can be nerve-wracking enough to pop the question, so we don’t want you to have any added stress. That’s why it’s important to make sure your ring is covered between the time you buy it and the time you give it to your hopefully-soon-to-be-fiancée.

Once you’ve picked out and purchased your ring, you’ll want to reach out to us, so we can figure out if you have enough coverage under your policy. There are limitations (depending on how expensive the ring is, or how much jewellery you’re already covering) so you might need to take out a floater to cover the ring.

Not automatically, because your partner is technically considered your ‘tenant’ (although if you want a happy relationship, we wouldn’t recommend you calling them that).

Once you’re married (or qualify as common-law), your partner will be automatically covered. Until then, you need to let us know that your partner will be moving in, so that we can list them as an ‘insured’ person on your policy.

Wherever you choose to go for some much needed R&R, the coverage of your possessions will travel with you. As we’ve mentioned in some of these other answers, one thing to keep in mind is that there are certain limitations on jewellery coverage, depending on the value of the ring and what other jewellery you already own. So make sure to reach out to us when you do make a big purchase like a wedding ring, so we can better explain the extent of your coverage.

Hopefully your guests enjoyed that extra bit of generosity. The easiest way to start saving is to bundle your policies together under one insurance provider. You’ll not only take advantage of some great savings, you’ll also keep your contact list short in the event that you have an insurance concern or a claim.

As far as insurance goes, you receive the exact same coverage and advantages whether you’re married or common law, so you don’t have to tie the knot to receive any special benefits. The biggest difference is that to qualify as ‘common law’, it takes a certain period of time (which varies depending on where you live), whereas getting married or eloping doesn’t have that same waiting period.