Property Insurance Policy Update
Property Insurance Policy Update The following paragraphs pertain to items requiring your action, coverage considerations, policy update questions, and an opportunity to better insure your outstanding mortgage balance. If changes are required, please contact our office and we would be happy to review with you.
Items Requiring Your Action:
Your dwelling coverage and contents limits on your policy have been increased automatically by your Insurer to keep pace with increases in construction costs and general inflation. Please review your policy limits carefully to ensure that the limits are sufficient.
Your policy does contain statutory conditions, coverage exclusions, and standard terms, all of which could affect a claims settlement. Certain types of loss, damage, or property are not covered by your policy. It is important that you understand these limitations and that you review your policy carefully on a regular basis to ensure the information contained in your policy is accurate and the coverage you have meets your current needs.
Do you have a monitored burglar alarm protecting your property? If you have recently installed a monitored alarm system at this location, please remit a copy of the certificate which will allow us to file for a potentially applicable discount.
Is your ‘unscheduled items’ coverage aligned with your assets? Your policy has special limits of insurance for your unscheduled items such as sporting equipment, bicycles, or jewellery. Please review your policy limits carefully to ensure that these limits are sufficient to cover these items. If changes are required, please contact our office and we would be happy to review with you.
Is it time to increase Sewer Backup coverage? Due to recent changes in weather patterns, there is an increase in claims due to sewer backup. Many Insurers are changing or limiting the amount of Sewer Backup coverage you have on your policy. There may be options to increase protection. Please contact our office so we can review your options.