Actual cash value
If you make a claim on your insurance policy, we will offer you the actual cash value for your lost items. This means, we will give you only what the items are worth in their used state, not what it would cost you to replace the items with new ones at today's prices.

Condominium insurance
If you own a condo, condominium insurance will cover the inside structure of your unit, the belongings inside the unit and common areas of the building that are owned in part by you and the other residents (e.g. lobby, gym or pool).

Construction type
The construction type of your property determines your rates. Generally, if your home is of a more solid construction like brick or brick veneer, the lower your insurance rates. This is because these materials are less combustible than other building materials.

Contents coverage
Contents coverage includes protection for all your personal property you normally keep in your unit and on your lot. You can purchase All-risk or Named perils contents coverage.

Guaranteed replacement cost
No matter how careful you are when appraising your home, it is possible to underestimate the replacement cost of the building. The Guaranteed replacement cost option protects you from being under-assessed, and will make up for any difference in the replacement value, or will provide you with added compensation up to an agreed amount. This coverage is for homeowners only.

Replacement cost
If you have to make a property claim, we will give you the cash value of all the items you have lost. When you replace the item with a similar kind and quality within 180 days of the day it was destroyed, the insurance company will pay you what it cost you to replace the item. This means you are getting the value of new items, not the depreciated value of what your belongings were worth.

All risk
When you have all-risk coverage (building or contents), you are insured for almost everything, unless it's specifically excluded from your policy (e.g. intentional damage to your own property would not be covered). This is the most common type of coverage because it offers the most protection, especially for any strange unforeseen events.

Building coverage
For homeowners only, building coverage protects the structure of your home, not your contents inside.

Contents coverage
Contents coverage includes protection for all your personal property you normally keep in your unit and on your lot. You can purchase All-risk or Named perils contents coverage.

Liability coverage
Liability insurance protects you from having to pay damages to people if you have been found responsible for unintentionally injuring them or their property. For example, if someone slipped on your kitchen floor and broke his/her leg, you would need liability insurance to protect you if he/she sued you and the courts ruled it was your fault.

Named perils coverage
Named-perils coverage protects you from the most common types of property insurance claims. Named-Perils includes fire, theft and water damage. Everything is listed very clearly in your policy booklet so you have a complete list of what your insurance policy covers.

Back to top