Home insurance 101

Discover how home insurance works

What, Why, When, Who and How

Are you new to insurance? Or do you just want to know a little more about it? We’re here to help.

Insurance may seem a bit complicated, but once you’ve got a handle on the basics, it gets easier and you can start making confident, informed choices for yourself. After all, knowledge is power.

What is home insurance?

Home insurance is your way of being able to cover the expenses that come up if something unexpected happens to your home and your belongings, like a fire or a break-in. It’s also there to protect you if you accidentally hurt someone or damage someone else’s property anywhere in the world. At belairdirect, we offer three types of insurance: homeowners, condo owners, and tenants. Although home insurance isn’t required by law, it’s a good idea to have it. A little protection for the things you cherish can go a long way towards peace of mind.

Home insurance helps you cover the expenses that come up if something unexpected happens to your home and your belongings, like a fire or a break-in. It's also there to protect you if you accidentally hurt someone or damage someone else's property anywhere in the world.

belairdirect offers homeowners, condo owners and tenants insurance. Although home insurance isn't required by law, it's a good idea to have it. A little protection for the things you cherish can go a long way towards peace of mind.

Why do I need home insurance?

We strongly recommend that you have home insurance because it can help with potentially huge expenses caused by an unexpected event that involves you or your home. Let's say there's a fire in your kitchen. The fire's damage spreads from the kitchen to the living room, bedroom and your neighbour's property. Your expenses can quickly add up if you need to replace furniture, clothing and housewares, and arrange for repairs to the walls, floors and ceilings in both your and your neighbour's home. The insurance premiums you pay help cover these expenses.

Who has to get home insurance?

No one is required to have home insurance, unless specifically required by your hypothecary creditor/mortgagee, but it's certainly recommended.

Although you're not required to have home insurance, unless requested by your creditor or mortgagee, it's highly recommended.

How do you calculate my home insurance premium?

Everyone's insurance premium reflects their unique situation. When we calculate your premium, we look at factors like the type of residence, the value of your belongings, the area where you reside and how long you've been living there. If you have prized collections, expensive pieces of art or jewelry or other special items you need coverage for, your rates might differ from the rates of someone who doesn't need special coverage.

Get a quote online or talk to a belairdirect agent if you still have questions.

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