Kitchener Home Insurance

Risks come in all shapes and sizes. Some policies offer unclear definitions of the risks they protect against. If you have any questions regarding your Kitchener home insurance policy, don’t hesitate to contact a broker at HUB International for clarification. Here are some typical risk factors that can affect homes in Kitchener:

• Fire damage
• Flooding and leaking pipes
• Strong wind damage
• Earthquakes
• Theft and vandalism

Depending on your neighborhood, the type of house you have and other factors, some risks may be more prominent than others. For instance, a home with a large tree in the yard may be more likely to experience damage from strong winds, while a home with outdated electrical wiring or a natural gas oven may be more likely to experience fire damage.

Now that you understand some of the insurance coverages and risks involved, there are a few ways to save money on your policy without sacrificing protection. First, ask your broker if there’s any area of coverage that may not be application to your specific home.

Insurance rates are often lower if you’re a member of a particular organization or university. Senior citizens are also typically eligible for a discount. Some devices, such as alarms and smoke detectors, can make your home safer and lower your insurance rates. Deductibles can be raised as well, which would lower your monthly payment.

It may seem second nature to contact your insurance provider immediately in the event of a tragedy, but choosing which situations to make an insurance claim may actually save you money. If the claim is for minor damage, it may raise your rate enough to make it more cost-effective to simply avoid making an insurance claim. Always check with your broker and insurance policy before making this decision.