Protecting a Community's Way of Life
Recent census data shows that Steinbach, Manitoba, is enjoying growth that's bringing about new opportunities for the local economy. When a community flourishes, citizens enjoy access to recreational spaces, cultural diversity, and an enviable quality of life. City leaders and the locals continually capitalize on the best that Steinbach has to offer, always looking to bring quality Manitoba living to each resident. Ranked as one of the best places to live in Canada, it’s no wonder the robust economy and affordable cost of living cause many to put roots down here.
Steinbach’s ranking as a leader among other medium-sized cities in Manitoba comes from home affordability, public transit access, low crime rates and availability of services. The right home insurance policy in Steinbach preserves a comfortable, affordable and enjoyable Canadian lifestyle.
The Necessity of Home Insurance in Steinbach
The Financial Consumer Agency of Canada recommends that homeowners carry insurance coverage for their dwelling, and common sense also supports this position. Your home is at risk of loss or damage both on the interior and exterior from unexpected events. The nature of the loss could leave you left with repair or replacement costs that total thousands of dollars. Plus, there is the additional risk of being forced to vacate your home and finding temporary housing while your home is under repair or destroyed.
HUB’s home insurance in Steinbach covers the most common threats to your dwelling:
- Damages from severe weather events
- Loss or destruction of personal possessions due to damage or theft
- Theft of personal property from your vehicle
- Injury to those who visit your property or home
- Accident damage you may cause to the property of another
Home Insurance Requirements
If your house has been paid for, there are no requirements under Canadian law to carry home insurance. However, if you intend to obtain financing for your home, a lender will almost certainly require insurance coverage. When considering a policy, there are many options and companies on the market. HUB International stands above the rest for the focus placed on meeting the individual needs of each client and customizing a policy according to those needs. Home insurance, though it sounds like general coverage, needs to be written according to a specific situation.
Adequate coverage for your home is considered against several factors. These include:
- Location of the home
- Value of the home
- Contents within the home
There are standard coverages for issues such as theft and fire, but unique situations (such as a highly valuable jewelry collection) require higher limits or special endorsements.
Things to Know About Home Insurance
Our industry experts at HUB will walk you through each aspect of a home insurance plan. Our agents can talk to you about deductibles, limits, and premiums. Your budget helps determine each of these, with the premium being your cost for coverage and the limits being what the insurance will provide in financial support for a covered incident. Your deductible is the out-of-pocket cost to be paid before your policy steps in. We also discuss covered perils and liabilities, which are the concerns that could bring damage or loss to your home.