Investing In a Growing Area
The town of Ponoka is small but growing, with a population of around 7,000 that increases by around 2% annually. The town attracts families with its many activities, including golf courses, museums, quaint local markets, community gardens and the world-famous Ponoka Stampede. All these benefits carry a hefty price tag; if you've invested in a home in the area, you should protect it with a quality Ponoka home insurance policy.
Safeguard Your Big Investment
The popularity of Ponoka is evident in the healthy real estate market. A high demand for housing means high prices for homes. Most homeowners in the town live in large, single detached houses with three bedrooms or more. The median list price of a home in Ponoka is $659,269, with a median square footage value of $438.
Risks to Home Ownership
When you purchase a house in Ponoka, you take on a significant investment. In fact, it is arguably the largest investment you will make in your life. A responsible homeowner understands that damage can occur, particularly with the snow and freezing temperatures typical of Ponoka winters. HUB International has the resources and expertise to help you protect this major investment with a personalized home insurance policy.
Ponoka Home Insurance Options
When you purchase a new home, the mortgage lender frequently requires insurance coverage to protect the investment against unanticipated damage or loss. Even if you are not mandated to insure your home, obtaining a policy geared to protect your financial interests in this major investment is a smart decision.
Home Insurance Coverage
At HUB International, we offer four areas of coverage with a typical home insurance policy. Our familiarity with the town of Ponoka enables us to craft insurance packages that address the risks faced in your area. Our policies are written to cover specific perils, including the following:
- Damage caused by aircraft, vehicles or falling objects
- Explosions
- Fire and smoke damage
- Hail damage
- Lightning strikes
- Theft
- Vandalism
- Wind damage
Structural Coverage
Damage to the main structure of the home from a covered peril is taken care of through structural coverage. Damage caused by floods, earthquakes or inattention to maintenance issues is not covered. Additional structures on the property, like sheds, freestanding garages or outbuildings, may need coverage under additional structure policies.
Personal Belongings Coverage
Personal items, such as appliances, clothing and furniture, are protected from damage or loss through personal belongings coverage. You should take care to examine your limits with this to ensure that your payout in case of emergency is high enough to cover your losses.
Living Expenses Coverage
If damage to your dwelling causes you to be displaced, living expenses coverage can be a real lifesaver. This will reimburse you for expenses associated with renting a house or hotel room while your place is being repaired. It also pays for meals and other incidentals that may be incurred within the policy limits.
Liability Coverage
Liability coverage is important to protect you from lawsuits that others may file against you. If a pet or member of your family causes injury or damage to another person, this type of coverage will pay for medical expenses or repairing or replacing the damaged property.