Although lenders typically require borrowers to purchase homeowners insurance, few want to think about the impact of a catastrophic fire or extreme weather event. [...]
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Common Reasons Your Home Insurance Claim Could Be Denied
Home insurance is an essential expense for any homeowner. It protects you in case of damage to your home and property, including total loss. [...]
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What Happens if Your Property is Underinsured?
Although the majority of Canadians carry homeowners insurance, many are stunned to discover they do not have adequate coverage. That’s largely because lending institutions [...]
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What You Need to Know About Property Depreciation
Many factors affect the value of your property, and depreciation is a major aspect of property assessment, particularly when it comes to calculating Actual [...]
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5 Things Every Homeowner Should Know About Their Insurance
Your home is a large investment and can hold a lot of emotional and financial value. When a loss or damage occurs, you want [...]
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What is Other Structures Coverage?
We typically think of home insurance as coverage that protects our housing in case of a loss, but you may not realize that most [...]
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Determining a Structure’s Physical Condition for Depreciation & Replacement Cost Estimates
Understanding and determining a structure’s physical condition is crucial. Physical condition is also part of estimating the Physically Depreciated Value / Actual Cash Value [...]
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Reasons Why Your Homeowner’s Insurance Goes Up Every Year
We’ve all been there: you open your insurance company’s latest annual assessment, and lo and behold, your home insurance premium has increased. You may [...]
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What is Recoverable Depreciation in Insurance?
Depreciation refers to the loss of an item’s value over time and applies to most household possessions. For example, if you purchase a brand-new [...]
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Effective Age vs Actual Age
Effective age and actual age of homes are used by industry professionals but can be easily explained. How old your home (or structure) is, [...]
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