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Must-have insurance information for new homeowners Creston News Advertiser

Once the excitement of buying a new home begins to subside, the reality of protecting that home from the unexpected needs to be addressed. A home is likely to be your biggest investment ever.

Homeowner's insurance policies are challenging to understand. You can have many different types of coverage within a single policy, and different financial obligations can be set out for the homeowner and the insurer. Here is a basic overview of some of the most important points you need to consider when choosing your coverage.

Types of coverage
You can cover many different insurable incidents and items with your homeowner's insurance policy. Some of the most common are:

Dwelling: Dwelling covers losses that occur to your home and any structures that are attached to it. Dwelling does not cover fences or sheds.

Other structures: "Other structures" covers those structures on your property that are not attached to your home, like your fence or shed.

Mortgage Disability Insurance vs. Indvidual Disability Insurance

disability insurance by Joe Hall
disability insurance by Joe Hall

It goes without saying that Mortgage Disability Insurance is linked to your Mortgage. Most lending institutions tie this type of insurance in with their existing mortgage life insurance plans.

On the surface Mortgage Disability Insurance may seem like a good idea, but it has several limitations.


(Mortgage Disability Insurance vs. Indvidual Disability Insurance continued...)

Mortgage Disability Insurance vs. Indvidual Disability Insurance

Post from: Life Insurance Canada

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