If you operate a business out of your home, there is no coverage provided under your homeowners policy for the liability exposure created by this business. There is also no coverage for stock or equipment owned by the business. An endorsement can be purchased on most home insurance policies to cover these exposures as well as business interruption coverage, extra expense coverage, accounts receivable, property temporarily removed from the premises and other coverage.
If you leave your house unoccupied for more than four consecutive days during the usual heating season, there is no coverage for frozen pipes within your home unless you arranged to have a competent person check your premises on a daily basis.
Most homeowner’s policies have special limits of insurance on jewellery (usually $4,000 – $5,000) and bicycles (usually $300 – $500).
There is no coverage for loss or damage to your home if it has been vacant for more than 30 consecutive days.
There are two standard types of homeowner’s coverage – broad form and comprehensive. Do you know the difference?
Accident benefits provided under an auto insurance policy will not increase with the cost of living unless you have purchased this option.
We can protect your accident-free driving record if you have an accident.
When should you make an insurance claim? An insurance policy is not a contract. If you can afford to replace your loss then you should do so. If you cannot afford to replace your loss, then you should make a claim. Insurance is purchased to guard against the risk of a large financial loss. In exchange for a sum of money, the insurance company is assuming the risk of a loss to your property. Depending on the type of policy (there are two standard types) the insurance company will guard against certain perils that cause risk.
You can purchase travel insurance through Reuter & Reilly and some of our affiliated companies include it with your homeowner’s policy.
An improperly installed wood-stove is a fire hazard. There must be appropriate air space and shielding in place.
Damage caused by birds, vermin, rodents or insects is not covered.
You must have sewer backup coverage in place to be covered for rupture or bursting, backing up or escape of water from a sewer, drain, sump, septic tank, eaves trough or downspout.
If you have a pool, liability must be extended from the homeowner’s policy.
There are discounts available on boat policies if you have taken a power squadron course.
An umbrella liability policy can be purchased to increase your limits of liability and improve coverage in areas not covered by your home or auto policy.
At Reuter & Reilly Insurance Brokers, we’ve got you covered.