Endorsements are optional coverages or changes to your policy that increase your insurance coverage or provide an additional benefit to you.
Water damage continues to be the leading property insurance claim in Canada. For an additional premium, this endorsement can help protect the investment you’ve made in your basement.
This endorsement helps to protect you financially in case of sudden and accidental loss from:
In the event of water damage to your basement, the Sewer Back-up Coverage endorsement can provide coverage up to the limit stated in your policy to:
When added to your condo insurance policy, your personal property and any upgrades you have made to your unit can be protected against direct loss or damage caused by the backing up, escape, discharge or overflow of water or sewage.
When added to your tenant insurance policy, your personal property can be protected against direct loss or damage caused by the backing up, escape, discharge or overflow of water or sewage.
Note: This coverage does not insure against any loss or damage if the backing up, escape, discharge or overflow of water or sewage was due to flood or continuous, repeated seepage, or leakage of water or sewage.
Canadians are increasingly feeling the effects of changing weather patterns, including severe storms resulting in water damage. Whether you own a home or rent, this endorsement can provide important coverage for damage from overland water entering your home as a result of torrential rains, spring thaws or over-flowing rivers or lakes.
For an additional premium, you can increase the insurance coverage for certain valuable personal articles (such as a high-end mountain bike) if your plan’s special coverage limits don't fully cover those items.
With this endorsement, personal articles itemized in your Certificate of Property Insurance are insured for unforeseen loss or damage caused by all sudden and accidental risks of direct physical loss or damage, except for what is described in your policy.
If your plan’s special coverage limits for jewellery, watches and precious stones does not adequately cover your items, you can purchase coverage to increase these limits for theft.
If you have stock or business equipment in your home, you can purchase additional coverage to have it insured up to a certain amount.
This endorsement is subject to additional conditions, which are listed in the policy.
Losses due to glass breakage can often cost less than or close to your deductible amount. For an additional premium, you can reduce the deductible amount shown in your Property Insurance Certificate for losses due to glass breakage (such as a broken storm door).
If you live in a quake-prone area such as Quebec or British Columbia, you may want to consider adding Earthquake coverage to your policy.
For an additional premium, you can insure your property (depending on the type of insurance you have this could include your building, detached structure(s) and personal property on your premises) against loss or damage caused by earthquake. If more than one earthquake shock occurs within a 168-hour period, they will be considered a single earthquake.
If an earthquake damages the walls or roof of your dwelling, you will be insured for the resulting damage inside your dwelling caused by rain, snow, wind or hail. Loss or damage caused by the following perils are not insured even though they are directly caused by earthquake: flood, waves, tidal waves, high water, waterborne objects or ice.
This endorsement is subject to additional conditions, which are listed in the policy.
Avoid large claims by making minor repairs before there is a major issue. For an additional premium, you can add the Home Repair Bundle endorsement to your property policy. Claims against this endorsement will not count as a claim on your policy and will not affect any claims-free discount or disappearing deductible on your policy. This bundle includes:
Home Repair Assure to fix a minor issue before it leads to a large claim.
Claim Prevent to help prevent a further claim occurring from the same cause.
HALO Assist for free access to phone advice from legal, health, home repair and real estate experts.
Every year, thousands of Canadians fall victim to identify theft. While the Identify Theft Expense endorsement does not protect you from becoming a victim, it can help you with the cost to restore your identity and credit rating.
The deductible does not apply to claims against this endorsement. In addition, your claims history and, if applicable, your claims-free discount and disappearing deductible, will not be affected.
Use our quick calculator to make sure you're sufficiently protected against water damage.
Find answers to your questions about home insurance coverage, deductibles and premiums.
It depends on the type of home you live in. If you own a house, your property insurance will cover the house itself and detached structures like a fence or storage shed.
Your insurance will also cover personal belongings such as jewellery, artwork, furniture, computers, carpets and more.
Finally, your policy also includes third-party liability coverage. This protects you against personal liability if somebody is injured while on your property or if you accidentally cause damage to a neighbour's property.
Your coverage should begin as soon as you become the legal owner or tenant, even if your home or condo unit is still being built.
The owner of the property you're renting almost certainly has insurance on the building itself. They may also have coverage for certain items inside your rental unit, such as the carpets, light fittings and appliances. So you may wonder why you need coverage too.
Here are two excellent reasons:
For details, see: Tenant Insurance.
Your condominium corporation has insurance, so you may wonder why you need your own coverage.
Here are three excellent reasons:
For details, see: Condo Insurance.
The liability coverage included in a homeowners, condo or tenant insurance plan protects you financially if you unintentionally cause bodily injury or property damage to others—at your home or anywhere in the world. For example:
Insurance coverage for water damage depends on a number of things, like where you live and how your home was constructed. Insurance for some types of water damage may be included automatically in your policy, and some may need to be purchased as extra.
Examples of causes of water damage that aren’t covered under most standard home insurance plans are flooding and seepage:
Causes of water damage that are usually covered by most standard home insurance plans (or can be added by endorsement) include:
Not automatically. However, you can purchase earthquake coverage for an additional premium. For details, see Endorsements for Your Property.
Most property insurance will protect your belongings when you travel. For example, if your luggage is stolen from a hotel room or your car, you may be covered for the loss.
Remodeling your home may change the valuation placed on your property. If you build a major addition or swimming pool, you will need to update your insurance policy.
Overland water is fresh water that accumulates on land which is usually dry, resulting from torrential rain or snow melt or the overflow of lakes, streams and rivers.
We’ve made the Overland Water endorsement available for purchase in response to the effects of changing weather patterns and the increasing number of severe storm events that often cause property damage.
If you purchase this additional protection, you will have coverage for damage caused by overland water entering your property from torrential rains, rapid snow melt, or overflow of lakes, streams and rivers. This includes coverage for loss or damage from the sudden and accidental entry of overland fresh water through foundations, basement walls or basement doors. This coverage is not included in the Sewer Back-up Coverage endorsement.
The Sewer Back-up Coverage endorsement also provides very important coverage. This includes the sudden and accidental backing up of water or sewage through:
This endorsement does not cover:
The Home Repair Bundle includes three services for $125 per year:
In addition to the home repair service, you have access to unlimited information about covered repair issues in your home. You can call the toll-free number any day, any time and a service representative can answer questions you may have about home issues and repairs. If your home repair issue is not covered under the program, you can choose to be referred to a trusted service provider in your area. You can then arrange and pay for service directly with them.
This depends on the service:
The services cannot be purchased separately.
The deductible is the amount you must pay out-of-pocket for each claim before your insurance policy pays.
The standard deductible amount is $1,000 for homeowner, condominium owner or tenant insurance policies. You may be eligible to increase or decrease your deductible amount, which may impact your insurance premium. Since the deductible amount is what you pay out-of-pocket for a claim, it is important you choose an amount that you can afford if you ever need to make a claim.
In most cases for property loss or damage, a deductible will apply. However, there are certain instances when you will not have to pay a deductible for property losses.
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You have several payment options, including regular pre-authorized chequing account withdrawals, credit card debits (Visa or MasterCard) and lump-sum payments.
Using any of the services provided under the Home Repair Bundle won’t affect your claims history or claims-free discount therefore will not increase your premiums.The Home Repair Bundle is designed to help you proactively reduce and prevent the same claims from occurring and provide further protection with assistance services.
If you make a claim under this endorsement, your premium, claims history and claims-free discount will not be affected therefore will not increase your premiums. You do not have to pay your policy deductible if you have an Identity Theft claim.