Home Insurance Premiums
Home insurance policies cover you for a year and the premium, or monthly charge, is based on an estimate of likely your home will be damaged, burglarized or destroyed. Different factors go into this calculation including the location, building materials, locks and safety and even how close it is to the fire station.
Home Insurance Protection
Home insurance protects you against financial loss and once you submit an approved claim, you will get a payment or refund for circumstances covered under the policy such as a fire or theft.
If you can't live in your house, apartment or condo then your home insurance will also pay for additional living expenses such as a hotel and meals as well.
You're also covered for personal liability. This means if someone were to visit you and trip on your sidewalk or slip on ice and they choose to sue you, then your property insurance would be covered for these costs as well.
Make sure you get the right coverage by comparing home insurance quotes and get professional advice by speaking to a licensed home insurance agent.