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Types of Home Insurance in Calgary

If you’re planning to purchase a home in Calgary, having knowledge on home insurance types can help you a lot. Have a look at the types given here and choose the one that suit your needs.

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Types of Home Insurance in Calgary

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  1. Types of Home Insurance

  2. There are seven types of home insurance in Calgary. Each type of insurance is purchased to protect the specific needs of an individual or family. Different types of homes require different types of coverage.

  3. The first type is basic homeowner’s. A homeowner’s policy provides liability insurance in case someone is injured on the property. This type does not cover maintenance on the home.

  4. The second type works the same as basic homeowner’s but adds coverage for additional perils. This additional coverage includes water damage from water backup, snow, falling objects, and electrical damage.

  5. The third plan provides even boarder coverage. This policy would include extended and specialty items in addition to all the coverage listed above. The only disasters this policy would not cover are flood, earthquake, war and nuclear blast.

  6. The fourth type of home coverage is tenant or renter’s insurance. This is the type of policy that would be purchased by someone renting a home or apartment.

  7. The fifth type of home policy is a complete risk policy. This type of policy covers the building and the property from any disaster that may occur.

  8. The sixth type is condominium insurance. This policy would cover all personal property within the condo against all the disasters listed above. Liability insurance is also included.

  9. The seventh type of home policy is tailored to older homes with historic value. This policy protects against the same perils as basic homeowner’s policy but pays out actual cash value for repairs as opposed to replacement costs.

  10. If you want to know more about home insurance, visit Maxwell City Central. Their REALTOR® can make it available to you or refer you to a knowledgeable insurance broker for pricing quotes or coverage information. Phone: (403)-775-6950 Website: http://www.maxwellcitycentral.ca/

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