17 home insurance myths to stop believing now Nov 12th

There are more insurance options in Canada than you can shake a stick at! Stay on top of the best policies right here.
Latest News

Video: Is tenant insurance mandatory? + MORE Nov 28th

Tenant insurance is good to have. If you’re a renter, it covers the cost of replacing your personal items after theft or damage. But coverage doesn’t stop there—tenant insurance also protects you in situations where you may be liable, such as accidental property damage or a personal injury.... More »

Home insurance can be a tricky topic, and if you’re not reading the fine print, you could be relying on widely-held insurance myths to inform your coverage decisions. Let’s take a look at the home insurance myths and get the facts straight.

Get personalized quotes from Canada’s top home insurance providers.Home insuranceRenters insuranceCondo insuranceYou will be leaving MoneySense. Just close the tab to return.

1.MYTH: You must have home insurance.

FACT: Is home insurance required by law? Unlike auto insurance, home insurance has not been made mandatory by the government. However, if you’re asking “Is home insurance required for a mortgage?” you’ll get a different answer. If you own the property and have a mortgage on it, often, your bank or lender will require that you hold an active home insurance policy and name them on that policy. If you do not own the property but are renting it, your landlord may require that you have renter’s insurance.

2. MYTH: If I am away on vacation, my house is covered…

Continue Reading On moneysense.ca »

Share

PinIt
Compare insurance quotes through Kanetix.ca - save time and money!