Enjoy the Great Outdoors in Timberlea
The community of Timberlea, with its population of about 5,600, is one of nature's beauty. The 30 kilometres of wilderness trails at Bluff Trail allow those who want to experience the great outdoors to walk amongst the trees or take a dip at Governor's Lake. If you would rather lie back and relax, you can do so on the beach while listening to the calming waves and feeling the sand underneath you. When you are out enjoying the peace of nature, the peace of mind that comes from good home insurance in Timberlea can help keep your mind at ease while at home and away.
The Importance of Home Insurance in Timberlea
While home insurance in Timberlea is not required by Nova Scotia law, if you have a mortgage, which most people do, your lender will want to see that the property is covered. Beyond that, home insurance protects your home and belongings against threats such as fire, vandalism and theft. While crime rates in Timberlea are 17 percent lower than the national average, residents still have a one in 29 chance of becoming the victim of a crime. Most of these crimes are property crimes, so having home insurance that protects you against theft, burglary and property damage is essential.
Timberlea has a wet climate with no dry season. This means that there is a potential for flooding. Home insurance does not typically cover flooding, so you may want to consider adding additional coverage if you live in a high-risk flood area.
What Home Insurance in Timberlea Covers
Most home insurance plans typically cover the following:
- Dwelling: This refers to the structure of your home, including the foundation, roof, walls and floor, and any attached buildings, such as a garage.
- Other buildings: Other buildings not attached to the home, such as a shed or fence, would also be covered.
- Personal property: Your policy will cover your personal belongings, such as your appliances and furniture, inside your home and other buildings on the property.
- Liability: If someone gets injured on your property and requires medical care, your policy can cover their medical bills.
- Miscellaneous: If you are displaced from your home, your policy should also cover the cost of living expenses, such as hotel bills, while your home is rebuilt or repaired.
It's critical to thoroughly read through your policy to be aware of what your plan covers and what you may need additional protection for. For example, some add-ons include:
- Flood Insurance
- Equipment breakdown coverage
- Scheduled property or extra coverage
- Buried utility
Consider adding anything to your policy that you might want coverage for later based on your needs.
Cost of Home Insurance
Multiple factors can determine your home insurance premium. Things like the location of your home, age and condition can play a role. In addition, your credit score, claims history and deductible are also factors that lenders often consider. Your deductible is the amount of money you are responsible for when you submit a claim. The higher the number, the more you pay out of pocket for a claim, but the less you'll pay in your monthly premium.