We are all exposed to different kinds of risks: on the road, when traveling, outdoors and even in the safety of our own homes. Fortunately, there are different types of insurance to guard against these risks, including home insurance. House and condo owners have every good reason not only to protect their homes, belongings and furniture, but also to have civil liability coverage in the event of a disaster.

A range of conventional and customized products

Insurance companies offer basic protection for goods such as the principal residence, other buildings or installations and personal property against the most common sources of damage: fire, theft, vandalism and water damage. They also cover your civil liability in case of unintentional damage to others, which could represent a significant amount of money. Other personalized protection is offered as an option, in particular, water or gas leaks, damage linked to natural causes, or even earthquakes.

As for condominiums, most of which are divided condominiums, the co-owners should collectively have insurance for the building and common areas. Each co-owner should also have their own insurance policy to insure their property and any improvements. The combined insurance cost generally corresponds to that of a conventional home.

How to save money

Many home insurance companies also offer car insurance. By combining the two insurance policies with the same insurer, consumers can generally benefit from a substantial cost reduction. If the property also has an alarm system connected to a central monitoring station, most insurance companies will offer significant discounts on home insurance.

Whatever your type of property, homeowners insurance remains essential for your peace of mind.

Source: www.centris.ca