House Insurance Niagara Falls
Niagara Falls is known as the honeymoon capital of the world. Along with its gorgeous waterfalls, the city of Niagara Falls is full of attractions, like zip-lining across the falls! If you prefer a more relaxing sport, check out the Niagara Falls Golf Club.
Have you decided to make Niagara Falls your home? At Westland Insurance, we can help you protect your property without breaking the bank. With years of experience in the insurance industry, we know how to get you comprehensive coverage at an affordable price.
What Does House Insurance in Niagara Falls Cover?
In your home, there’s a lot to protect. There’s the physical structure of your house, the contents of it, and any liability issues that could arise when you’re having guests over. For all that, you need house insurance.
Here’s what a standard home insurance policy has to offer:
You’ve spent thousands investing in your personal belongings, from your kitchen appliances to your comic book collection. After you add up the total value of your belongings, the number might surprise you. Luckily, your home insurance will protect you if your items are stolen or damaged.
If you want protection beyond the walls of your home, you’ll get it with home insurance. Additional structures are included in your policy, such as your garage and/or garden shed.
Liability means legal responsibility. If an accident happens in your home or you cause property damage to another house, you could be held liable to pay for medical expenses or repair costs. Liability coverage will pay for legal fees associated with a lawsuit or medical fees.
Did you know that home insurance also covers your expenses if you need to live elsewhere temporarily? Imagine if your house needed repairs due to fire damage. You could make an insurance claim to cover your additional living expenses, such as hotel fees and meals until you can return home.
What It Doesn't Cover
Now we’ll get into what your insurance won’t cover (which is equally as important as knowing what it will cover).
A basic policy covers perils like fires, theft, and windstorms. But not all perils are included in a standard policy. Without endorsements, you won’t be covered for earthquake damage, sewage backups, or damage to a boat.
When you’re choosing your home insurance policy, you’ll ask about your policy limits. How much coverage do you need for your personal belongings? This limit specifies how much you’ll be reimbursed if you make a claim. You won’t be covered for damages exceeding your policy limit.
Why Do I Need House Insurance, and Is It Required in Niagara Falls?
In Niagara Falls, if you own your home (in other words, you’ve paid off your mortgage), you aren’t required to buy home insurance. However, that doesn’t mean you don’t need it.
It’s expensive enough when one of your appliances breaks, like a stove or computer. But if you’re facing significant property damage from a fire or flood, the costs can be incredibly steep. Your house insurance is a safety net. When you’re facing an unexpected expense, home insurance has your back.
Factors That Affect the Cost of House Insurance in Niagara Falls
When an insurance company calculates your premiums, they look at factors like:
- Distance to services. An insurance company will look at how close the nearest fire hydrant or fire station is to your home.
- Claims history. How many insurance claims have you made in the past?
- Credit score. Having a good credit score can lower the cost of your insurance.
- Construction. Is your house made of high-quality materials?
- Location. Your neighbourhood will also affect your insurance rates—specifically, the rates of flooding, fires, and vandalism in your area.
- Age of home. If your home has outdated electrical or plumbing, your insurance rates will be higher; these homes have a higher chance of fire or water damage.
Coverage Options for House Insurance
Endorsements allow you to get even more out of your home insurance. To expand your Niagara Falls home insurance, choose from the following coverage options:
- Identity Theft
- Home-Based Business
- Overland Water
- Sewer Backup
- Service Line Coverage
- Claim Protector
- Home Equipment Breakdown
Let us know if you’re concerned about unexpected flooding, appliance breakdowns, or liability issues related to your home business! We’ll be happy to help you find the coverage you need.
How Can I Reduce My Premium Costs?
You want to get an affordable price on your Niagara Falls home insurance premium. To bring down your home insurance cost, try the following:
- Work with an insurance broker. At Westland, our insurance brokers will compare rates to find you the best deals on home insurance.
- Only make claims when you need to. Dealing with property damage? Even if the damage is from an insured peril, consider the cost of making a claim before you do it. You’ll need to pay the deductible and higher home insurance premiums for the next few years.
- Mature customer (55+ years). Inquire about this discount if you’re 55 years or older.
- Claims free. If you haven’t made a claim in at least three years, you could get a discount.
- Local or monitored alarm. Improve the security of your home to lower the chances of vandalism or theft.
- Sprinkler. If you install a sprinkler, it will eventually pay for itself due to your reduced insurance premiums.
- Water leak detection device. Reduce the chances of a water leak with this detection device.
- Company loyalty. You can save more insurance by bundling your policies. Get your home and auto insurance through the same provider to save on your premiums.
- Mortgage free. Paying off a mortgage is a huge accomplishment. And to make things better, you’ll pay less for insurance when your mortgage is paid off.
- Credit score factor. A good credit score will help lower your insurance rates.