Home Insurance

We’re often so busy in our day-to-day lives that it’s easy to overlook changes that may affect our home insurance coverage. When it’s time to renew your policy, take a few minutes to give it a check-up. Be sure that you still have the appropriate coverage in place. This checklist will help us to assess your home insurance needs when it comes time to renew your policy. About you and the others in your home: Have you passed a milestone birthday that would entitle you to a discount? (Some age-based discounts apply as early as age 45.) Has there been a change in the number of people living with you in your home? For example, has a child moved out or is s/he living in a boarding school or university residence? Has a parent come to live with you? Are you away from home for long periods? Do you participate in a holiday home exchange? Do you have items such as a boat, trailer or RV, and are they kept at home or in another location? Are you planning on moving? If so, your broker can advise you about coverage should this home or your next home be vacant for a period of time. Have you bought or sold a recreational property? Do you now employ in-home staff such as a nanny or housekeeper?About your property – are property valuations still appropriate? An insurance valuation differs from the assessed value and the appraised value in several respects. The insurance valuation can increase even if you have not made any upgrades, because in the dynamic construction market in B.C. today, the cost to rebuild today may be more than it was a year ago. This is especially important on rental and seasonal dwellings as insurance companies do not provide guaranteed replacement cost on those dwellings so any shortfall will come directly out of your pocket. Have you recently installed a burglar alarm or fire alarm? Have you installed a solid-fuel heating appliance (i.e. wood or pellet stove)? Have you made any major renovations, upgrades or additions to the home? Have you added a garage, storage shed, gazebo or hot-tub? Has there been a change to municipal zoning, bylaws or fire protection?

About your possessions – is the coverage on your home’s contents adequate? Often it’s based on a percentage of the property value, and may not provide for special high-end items you may own. Have you installed a pool or hot-tub? Have you bought or inherited any major items that need extra coverage, or do you no longer have something for which you had previously arranged separate coverage for? This would include items such as: jewelry, furs, collections such as art, antiques, coins, stamps, sports cards, recreational and sporting equipment, gardening equipment/tractors, tools. Do you have property in storage or located elsewhere for some reason?

Business Activities.

Do you need to have specialized tools or equipment for your work that you keep at home or take with you to the job site? Have you started conducting a business from your home? Do you have additional computer hardware or software used in the business? Do you rent out part of your residence or take in boarders?

Our Commitment to You the Homeowner

At LeGear Pelling we work for You! The LPI Advantage – if you ever have to make a claim, that’s when you learn the true value of having LPI on your side. We’ll be there to guide you through the claims process and if necessary help deal with the insurer on your behalf. We will be your advocate – to make sure the insurance company acts fairly and promptly. Call us with any questions you may have regarding your Home Insurance: Tel. 604.276.2474