Home Insurance in Summerside

Protect Your Investment With a Home Insurance Summerside Policy

Located in the maritime province of Nova Scotia, Summerside, is a small village along the Gulf of St Lawrence. This town is convenient to many of Nova Scotia’s northern beaches, including Bayfield Beach, Riley’s Beach and West Arm Beach. This area is part of the north shore of Nova Scotia, a region where residents can enjoy the water, natural parks and tranquility.

The north shore of Nova Scotia has a population of 157,160. The top industries of the area include healthcare, wholesale trade and manufacturing. The average weekly wages of someone living in this area in 2022 were $998.09. Individuals who own multiple properties include 23.4% of the population in Nova Scotia, showing a trend with vacation home ownership in this area.

There are several risks to property owners in this area due to the frequently changing weather systems and the potential for climate change. Some possible risks that could cause property damage or destruction in Nova Scotia include flooding, coastal erosion, wildfires and extreme temperatures. Wildlife encounters with black bears and moose may also play a factor in insurance claims.

Coverage for Your Property in Summerside

There are many things to consider when choosing your home insurance Summerside policy components. If you own your home, you may be able to build a personalized policy that fits your budget. If you have a mortgage, your financial institution may have specific limits to your policy options based on potential risks in Summerside.

Protecting Your Dwelling and Possessions

The central component of any home insurance Summerside policy is dwelling coverage. An insurance agent can work with you to determine what type of dwelling coverage is right for you, based on the specifics of your home. Your coverage typically includes outbuildings on your property and your personal possessions inside of your home.

Paying Personal Liability and Medical Expenses

Next, your coverage may also include protection against personal liability and medical expenses. With liability coverage, your policy may pay out if someone, such as a friend or visitor, gets hurt on your property and requires medical treatment. Your personal liability protection may also offer coverage to the homeowner outside of their home. Medical expenses may also be covered, including lost wages from work.

Covering Loss of Use

Some policies also have the option of covering loss of use. This may offer reimbursement to the homeowner if the property is uninhabitable after a covered loss. The policy would pay temporary living expenses for a rental or hotel room while the primary residence is repaired.

Limitations on Home Insurance Coverage

With home insurance, you have to understand what is covered under your policy and what events are not eligible for claims. In most cases, perils such as fire, wind, lightning, burglary, theft or vandalism are covered. Incidents of flooding, earthquakes, insect infestation, neglect and wear and tear are not covered by a standard policy.

Flood Insurance

Rising sea levels, especially around Nova Scotia, may make adding flood insurance a necessity in Summerside. This type of coverage may provide protection against flood events.

Windstorm Coverage

Nova Scotia’s location may also make it more vulnerable to wind damage. Some policy providers offer extra windstorm coverage so you can get peace of mind.

Water Backup Protection

Sewer system failure is usually not covered in a standard policy. If your property could be impacted by a sewer failure, you may want water backup protection.