Contains definitions that explain a few of the major building blocks of home insurance.
Your insurer considers an unoccupied dwelling riskier than an occupied one. Depending on how long you are away from your home, you need to make arrangements to ensure your dwelling is checked regularly and you may need to inform your insurer.
Make sure you purchase a policy that reflects the unique qualities of your home, its contents and the people who live there. Your home should be insured from the moment you take legal ownership – even if it is under construction. Your broker’s expertise is particularly useful at this stage when you really need to match policy features with needs.
The short answer is yes, and the best way to know what is covered is to talk to your broker. More and more people are starting home-based businesses, for everything from marketing home-made products to keeping a home office for a consulting business. From an insurer’s perspective this adds new types of risk to your home, and therefore, may require additional insurance.
Knowing the value of the contents of your home is vital to being properly insured. Your broker can help you find the tools and resources you need. Take the time to ensure that your most precious things are protected.