Homeowner’s Insurance
Why do you need homeowner’s insurance?
If you’re applying for a mortgage, the bank may require you to apply for home insurance to allow you to qualify. While you are paying off your mortgage, the bank wants to ensure that the asset it loaned you money for is protected.
Homeowner’s insurance may be able to protect you from sums which you become legally liable for, as a result of an incident such as an injury on your property. Your policy’s liability coverage could protect you and your guests if ever they get hurt on your property.
Finally, home insurance not only protects the house itself, but your personal belongings within it too. If ever a covered loss were to destroy all that you’ve worked so long to accumulate, such as your furniture, appliances, or clothing, your home insurance policy could reimburse you for the cost of these personal items and help you get back on your feet faster.
Rest assured that with belairdirect, your homeowner’s insurance policy will give you excellent coverage that protects almost everything under your roof (up to the amount of the insurance stated in your policy).
What is covered by homeowner's insurance?
With homeowner’s insurance coverage from belairdirect, the following facets could be covered in the event of an incident:
Your dwelling and the attached structures
Your home insurance policy can help protect you from paying for costly property damage to your dwelling that occurs from covered incidents. Your dwelling includes the roof, the foundation and almost all structures inside the walls of your home. Other items that are attached to your house or home may be included as well, such as outdoor decks that are on your property.
Detached private structures
Additional buildings and detached structures such as garden sheds or tool sheds may be covered by your homeowner’s insurance policy as long as they’re on your property.
Your personal property
Your personal property includes the things you and your family own, wear or use. These items can consist of furniture, clothing, shoes, electronics and appliances. Your personal belongings may be covered even if they are temporarily away from your home.
Additional living expenses
If your home becomes unfit to live in due to an insured peril, you may be eligible for financial help to cover any necessary increase in living expenses.
Personal liability coverage for homeowners
Rest easy knowing you’re covered in the event that somebody gets hurt or injured on your property or a covered loss causes damage to someone else’s property that you are legally liable for. This type of coverage includes things such as medical fees and expenses, lawsuits, property damage and any bodily damage caused by a covered incident. Your liability coverage will also protect you if ever you accidentally damage somebody else’s property or hurt someone anywhere in the world.
Voluntary medical payments
In the event where somebody gets hurt on your property where you are not deemed responsible, voluntary medical payment coverage can pay for related medical expenses the injured person may incur as a result.
Please refer to your policy for all terms, conditions, limits and possible exclusions.
Voluntary payments for damage to property
These payments can cover any unintentional damage you cause to property that you are not legally responsible or liable for.
Refer to your policy for all conditions, terms, limits and possible exclusions.
Optional Water Damage Package:
Water damage protection for your home
Between your municipality’s aging infrastructure and increasingly extreme weather conditions, water damage has become a growing concern for homeowners everywhere. Protect yourself from cleanup expenses and repairs caused by sewer backup water damage with enhanced water damage coverage from belairdirect.
belairdirect's water damage coverage could protect you from:
Burst water pipes
If ever a pipe were to burst due to cold weather or washing machine were to break down mid-wash, you could be covered for water damages caused to your home.
Sewer back-ups
If water should accidentally back-up from the sewer system and begin flowing into your home, the damages could be covered.
Overland water
If you qualify, water damages caused by overflowing from a lake, river, heavy rain or rapid snowmelt that enters your home from above ground could be covered.
Ground water
Water damage caused by water suddenly entering your home accidentally through a basement wall, the foundation or floors could be covered.
See how belairdirect's enhanced water damage coverage could keep you safe and learn how you can prevent water damage to your home.
Working from home insurance resources
You’re the CEO of your home office. Keep it safe with S.O.S Identity, the identity theft insurance coverage. For a limited time, get S.O.S. Identity for only 1$/month.
Not only will you get credit monitoring services and reimbursement for costs related to restoring your identity if you are ever the victim of identity theft, but you’ll also get free access to LifeSpeak, the health and wellness platform.
Because your work situation has changed, we’ve also made changes to our home insurance coverage, allowing you to add working from home as an acceptable use of your home.
See how you can protect yourself while working from home and find answers to your questions related to working from home.
Frequently asked questions about homeowner’s insurance
Still have questions about homeowner’s insurance? We’re here to help.
1 - I have a homeowner's insurance policy under my name. Who does it cover?
Your homeowner's insurance policy covers your personal property and your liability. It also covers the same things for your spouse and your relatives who are living with you in the same household. It’s a good idea to keep your policy up to date with the value of the belongings of everyone on the policy.
2 - If I own a house, do I have to get home insurance?
Unlike car owners– who must by law have car insurance, house owners aren’t legally required to have home insurance. However, it may be a requirement in certain situations. For example:
Mortgaged homes
If you want to take out a mortgage to pay for your home, your financial institution may require you to have home insurance. This helps protect the value of the home and the security of their loan in case of something unexpected, like a fire.
Whatever your living situation may be, we strongly recommend that you do get insurance because it not only protects your home and your personal belongings, it also gives you liability coverage in case you accidentally injure someone or damage someone’s property anywhere in the world.