Think You’re Covered? Don’t Hope So. Know So!
It’s easy to make assumptions when it comes to home and insurance. After all, have you taken the time to read all the fine print? Don’t get caught thinking you’re covered for something — get peace of mind knowing that you’re covered. Take a look at these common oversights and how it could impact you if you have a claim.
- Vacant homes. Many Canadians transfer for work or take a new job in a different province. Did you know that if you leave your home vacant, unoccupied or rented out for longer than 30 days, most insurance companies require you to let them know? If something happens while you’re away, don’t get caught without the proper coverage.
- Driving outside the province. What could be better than a two-month journey across Quebec and the Maritimes to take in the beauty of the eastern provinces? Before you head out of the province for a trip that’s longer than one month, contact your agent to make sure you have the right coverage in place.
- Vehicles in storage. Temperatures are falling and you’ve put your summer car in storage. Make sure that you still have insurance to cover any damage that may occur while it’s in storage.
- Replacement vehicles. No one likes to think about car repairs and being stranded without a vehicle. Don’t assume that you’ll automatically receive a replacement vehicle if your car is being repaired as a result of a claim. Check with your insurer that you have Loss of Use coverage added to your policy to cover the cost of alternate transportation.
- Up-to-date insurance. Think your coverage is up-to-date? Don’t assume. You could be over or under insured as a result of life changes. Give your agent a call to find out if your coverage needs to be adjusted.
- Insurance for your valuables. Admiring the new diamond necklace your husband gave you for your anniversary? Check to see if it’s covered under your home insurance policy. You may need to buy a Personal Articles Floater, which provides all risk coverage for your precious valuables.
- Tenant insurance. As a tenant, you might think that you don’t need insurance, but add up all of your furnishings, electronics and personal belongings. Tenant insurance covers these valuable possessions and provides personal liability coverage. Personal liability coverage protects you if someone is accidentally injured while visiting. It also provides coverage if you accidentally cause damage to the rental property. Did you know that your liability coverage is extended to you as you travel anywhere in the world?
Talk to your Allstate agent to review your policies to ensure you’re not missing important coverage!