You’re Moving — Have You Thought About Insurance?
Whether you’re moving across Canada, across Ontario or just down the street, you want to make sure you save money. After all, you might need some new furniture in your new home!
If you already own a home, you have to keep your insurance in force until the house changes ownership. And make sure that you contact your insurance agent before you buy it.
You need to show proof of insurance for your new home. Even if you rent, you may need to provide proof of Tenants Insurance as part of the lease before you can move your stuff in.
Moving Truck Rental Insurance
You decide to rent a truck from a well-known rental company. As you’re on your way to your new home, the car in front of you stops suddenly. You rear end it causing considerable damage.
Are you covered?
Remember the rental form you signed? If you initialed and signed yes to the insurance questions then you’re covered.
Doesn’t hurt to still check with your insurance agent, though. Some auto policies do cover a rental truck. And your renters or homeowners policy will probably cover your belongings while in transit.
But you should always check before you move — especially when you’re driving a vehicle you’re unfamiliar with — you could save some money.
Don’t add to the stress of moving by worrying about a truck accident. Make sure you’re protected. That means usually, you’re better off buying the rental company’s insurance. It’s inexpensive and then you know you’re covered.
If you have questions, contact Secure Insurance Solutions and we’ll give you a thorough review of your insurance situation.
My Stuff Is Moved In, What About My Insurance?
If you move to another province, your Auto and Homeowners Insurance will change. If you’re moving from an apartment to a house, your insurance will change. Even the price of your home could change your rates.
No matter where you’re moving to, you need to report your change of address to your agent. You could pay lower rates if you’re moving closer to where you work.
And if you’re moving to a different province, your current agent may be able to refer you to someone closer.
Additional Insurance Considerations
Everybody seems to be ready for litigation. Consider your homeowner and auto policy limits. You may want to think about getting Umbrella Insurance as another layer of coverage. It kicks in after your Homeowner and/or Auto Insurance policy liability limits are reached.
If your new home is part of an association, you might want to consider loss assessment coverage. This coverage pays for a loss the association might assess its homeowners for. (For example, if the association gets sued and the judgment is greater than the association’s policy limits, they might ask the homeowners to kick in that overage.)
Finally, if you store any of your personal items in a commercial storage unit, check your Homeowners or Renters Insurance to see if they’re covered. If not, you may have to purchase a storage unit policy.
One Insurance Source
Secure Insurance Solutions has eleven offices across Ontario. We can help you make sure you get the right auto and homeowners coverage. Because we’re a leading independent agent, we have many highly rated insurance companies to choose from.
That means that you have choice and we can make sure you get the best value. We’ll always make sure that if there’s a discount to be had, we’ll get it for you.
Do You Need To Remodel Your New Home?
You may have saved some money buying a “fixer-upper” and now it’s time to make it your dream home.
It’s a lot of work, but when you have your house looking exactly the way you imagined, it’s all worth it. You have so many details to think about, it’s easy to forget about insurance.
Call your team at Secure Insurance Solutions before you start that remodeling project. We can make sure that you have a protection plan that will cover you from before you actually start until after the work is complete.
Here are some things you should consider:
- If you’re hiring a contractor, check his insurance and yours. You want to make sure that not only your contractor is covered, but any sub-contractors as well. You don’t want to get sued if someone is injured in your home. Make sure you see your contractor’s insurance certificate.
- If you’re going D-I-Y, make sure you’re covered for all the projects you’re going to tackle. Say something leaks three months after you finish your bathroom reno — if it’s because of faulty workmanship, you’re not covered.
- If it’s a major remodel, make sure you’re covered if anything happens after the work is done as a result of the work. Your replacement value may be much higher than it was before and if something happens you want to make sure you get the full replacement value.
Some remodels can actually save you money on your Homeowners Insurance. If your major remodel included plumbing, electrical or heating updates or installing a security system, your rates could go down.
The best advice we can give: give us a call about any of your remodeling projects at 1-800-665-3259 and we’ll let you know if you need changes to your coverage and if we can save you money.