Home Insurance In Peterborough

Covers repairs or replacement costs arising from perils included in your policy (often fire, flood, theft, power outage, lightning, hail, and more).

Covers repairs or replacement costs arising from perils included in your policy.

Covers damage or loss of personal property, such as the contents of your home or vehicle.

Covers the cost of accidental damage to another person or their property, including medical expenses.

Covers the cost of living outside your home if it’s being repaired or rebuilt.

Basic coverage insures you against specific perils listed in your policy. It generally includes coverage for damage caused by lightning, windstorms, fire, and hail, plus more. A Westland agent can help you understand exactly what’s covered under your basic policy.

Not surprisingly, broad coverage covers your home for more than basic coverage. It still includes a specified list of perils, but the list is longer and more inclusive. In addition to basic coverage, common perils insured under broad coverage often include theft, vandalism, and unforeseen damages such as burst pipes.

Comprehensive coverage covers more damages than either of the other two options. Instead of listing the perils it covers, a comprehensive policy usually lists the perils it doesn’t cover. In other words, when you opt for comprehensive coverage your home is insured for all perils with the exception of a list of exclusions.

If you’re looking for enhanced home insurance coverage in Peterborough, you’ve got plenty of options. Westland offers protection against identity theft, sewer backup, home equipment breakdowns, overland water, and more.

If you run a home-based business that involves clients visiting your home or the storage of a large amount of inventory or other work-related supplies and materials, you will likely need to purchase business insurance or commercial insurance in addition to your home insurance policy. A Westland representative can help you find the right coverage for your specific needs.

Often, a private farmhouse can be insured under the same policy as your farm buildings. To find out more about this convenient option, speak directly with a Westland representative.

No. Technically, home insurance is not mandatory in the province of Ontario. That being said, you’ll almost certainly be required to show proof of home insurance coverage in order to be eligible for a mortgage.

If you’re generating income from renting out a portion of your property, this counts as business revenue and won’t be covered under your standard home insurance policy. You will likely require additional landlord insurance, but the specifics will depend on the type of rental activity taking place.

Both of these terms refer to the amount of money you would receive in the event that you made a claim as a result of personal property being damaged or destroyed.

Replacement value represents the amount it would cost to replace a new item at the current market value. For example, if your leather couch sustained water damage and you were covered for replacement value, you’d be able to purchase a comparable brand-new leather couch.

Actual cash value represents the amount an item is worth after its age and depreciation are taken into account. For example, if your leather couch sustained water damage and you were covered for actual cash value, you would receive a portion of its original value based on calculations made by your insurance company.