How to go about securing the best policy for your insurance in Canada.
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How to tell if a home insurance settlement is fair
– moneysense.ca
(Getty Images / Henrik Sorensen)A regular reader (and friend of mine) emailed this week asking for help in assessing whether or not their proposed home insurance settlement was fair. Turns out a tree had fallen on her home’s roof over the holiday season and she wanted to know if her insurance provider—who was offering $14,000 in compensation for the damage—had made a fair offer.
Problem is not everyone has a former insurance magazine editor on speed dial (or answering her emails). Thing is, most of us could use a little unbiased advice when it comes to insurance—a simple way to assess whether or not we’re getting value (the settlement) for what they pay for (home insurance coverage). While I can’t review every insurance settlement, I can offer some general insight on how to best assess an insurance company’s offer.
First, however, I need to stress an obvious, but often overlooked, fact: Insurance settlements are not windfalls. It’s not a way to make money or a way to upgrade your home…
