Home Insurance Kitchener

Home Insurance Kitchener Residents Can Depend On 

Your home is a huge investment and ranks right at the top of your priorities as one of your most valuable assets. So why leave your home and finances open to a high level of risk by not investing in the right home insurance? Kitchener insurance brokers at Morison Insurance have the experience and skill to get you the insurance protection you need when you contact us for home insurance. 

Kitchener insurance brokers on our team will discuss potential coverage with you, answer any insurance questions you may have, and present suitable policy options that give you the type of coverage you need for 5-star home insurance in Kitchener. Get the peace of mind that comes with knowing that your home and valuable belongings can be repaired or replaced following a disaster such as a fire or break-in. 

What Is Kitchener Home Insurance? 

Kitchener home insurance policies offer financial protection for your residential property in the event of damage or theft, or if you are held liable for an incident on your property. It makes you eligible to receive insurance compensation to cover costs such as the restoration or rebuilding of a damaged home, replacement of damaged or destroyed belongings, and in some cases, additional living expenses as a result of your dwelling being temporarily uninhabitable. Kitchener home insurance also provides you with liability coverage to handle legal costs and settlement expenses if you are sued for reasons covered by your personal liability insurance. 

Although it doesn’t provide coverage for every type of incident, without proper home insurance, Kitchener homeowners could face having to pay thousands of dollars out of pocket in the event of house fires, natural disasters, theft and vandalism, or an incident resulting in property damage or bodily injury to a third party. 

Why Do I Need Home Insurance in Kitchener? 

You may be surprised to hear that you aren’t actually legally required to have home insurance. Kitchener insurance experts will tell you, however, that it is a very good idea to get this valuable piece of insurance protection. A home is one of the biggest investments most people will make in their lives, and all it takes is one cooking accident and a faulty smoke alarm to cause your home to go up in smoke, or a bad weather event to flood your finished basement and destroy valuable items. Most homeowners won’t be able to recover from this major financial loss or be able to carry a second mortgage for an uninhabitable home as they attempt to rebuild their lives, unless they have adequate coverage for home insurance. 

Kitchener mortgage lenders and financial institutions won’t approve a home mortgage unless there’s proof of insurance. As most people do not have hundreds of thousands of dollars in cash lying around, it is necessary to have a Kitchener home insurance policy in order to purchase a home in the first place. 

What Is Covered By Kitchener Home Insurance? 

Kitchener home insurance policies provide financial coverage for damage to the residence, item damage or theft, or if the homeowner/policyholder has legal action brought against them for certain reasons such as causing third-party bodily injury or property damage. This may include additional living expenses if you’re temporarily unable to live in the home, medical expenses, legal expenses arising from liability claims, and replacement costs for your home or personal items, depending on how your policy is written and the types of coverage you opt to include. 

Some common types of coverage found within Kitchener home insurance policies are: 

• Dwelling coverage 
• Contents coverage 
• Fire damage protection 
• Theft and vandalism protection 
• Personal liability coverage 

While the items in the above list are some common inclusions found in standard policies for house insurance, Kitchener insurance brokers can also show you additional options to increase coverage on your home insurance policy, such as: 

• Overland water coverage 
• Sewer backup coverage 
• Above-ground water damage and flood insurance 
• Guaranteed replacement coverage 
• Personal identity theft protection 
• Jewellery insurance 
• Garden insurance 
• Outbuilding insurance
• Wine cellar insurance 
• Garden insurance 
• And more! 

You can also get more personalized insurance protection if you wish to insure high-value items like card collections or musical instruments, or even customize your plan for the type of building you live in. Whether you need condo insurance, duplex insurance, townhouse insurance, cottage insurance, or single-family home insurance in Kitchener, you can count on our licensed insurance brokers to provide the comprehensive insurance options you need to protect your home in the event of a worst-case scenario, such as a natural disaster or if someone injures themselves slipping on your walkway and chooses to sue you. 

What Types of Coverage are Available for Home Insurance in Kitchener? 

Generally, there are three broad categories for home insurance. Kitchener policies are typically designed as comprehensive coverage, which offers the most reliable and thorough coverage.  

• Basic Coverage or Named Perils Coverage: This type of insurance coverage covers specific, or named, risks and common perils that are outlined in your Kitchener home insurance policy. Although the most affordable policy option, it also provides the lowest level of protection. 
• Broad Coverage: This Kitchener home insurance coverage protects your property and specific personal items listed on the policy against any named perils. 
• Comprehensive Coverage: As the most common coverage option, it provides all perils coverage for any structures and personal belongings, excluding only the perils that are specifically listed on your policy for home insurance in Kitchener. 

It’s important to take the time to carefully read and familiarize yourself with the details of your insurance policies, so you clearly understand the type of coverage you have. If you have any questions or concerns about covered claims or other details of your home insurance, Kitchener insurance brokers on our team are more than happy to answer and address them while providing the expert advice you need. 

What Is Not Covered By Kitchener Home Insurance? 

Kitchener insurance policies are intended to give you the best coverage possible, but there are some things or events that won’t be covered under your house insurance. 

Kitchener properties aren’t covered for any damage resulting from poor home maintenance or the wear and tear process that occurs naturally over the years, for example. Any damage as a result of the homeowner/policyholder committing an illegal activity won’t be covered under home insurance in Kitchener, nor will deliberate property damage by the homeowner. 

There may be more exclusions within your policy coverage, so be sure to familiarize yourself with the policy wordings within your home insurance. Kitchener homeowners can also get additional coverage or change insurance coverage by contacting our insurance experts. 

How Much Does It Cost for Kitchener Home Insurance? 

Kitchener property insurance rates can greatly differ based on a wide range of factors, so it’s hard for the professional team at our insurance brokerage to provide an accurate insurance quote for your home insurance. Kitchener home insurance premiums are determined by considering factors such as: 

• Type of home 
• Age of home 
• Location 
• The property value 
• Rental income associated with that property 
• Local neighbourhood crime rates 
• Access to emergency services, such as fire stations and hydrants 
• Electrical and plumbing systems 
• Age and condition of the home’s HVAC system 
• The age and condition of the roof 
• Your insurance claims history 
• Insurance history of the area 
• The amount of coverage and how high an insurance deductible your policy has 
• Presence of potential risks on the property 

Because of these factors, two homeowners living next door to each other who live in the same type of home can have very different insurance costs. You need enough coverage to provide you with the necessary funds to replace your home and everything in it, so homeowners with higher property values and costly belongings will likely have more expensive Kitchener home insurance. 

That being said, some insurance companies do offer discounts on home insurance in Kitchener. Loyalty discounts, bundling home and auto insurance policies, claims-free insurance discounts, and mortgage-free discounts can help save up to 30% off your overall cost for home insurance. Kitchener brokers at Morison Insurance will inform you about the discounts that you may be eligible for during the process of finding insurance quotes. 

Where Can I Get The Right Home Insurance in Kitchener? 

No matter your insurance needs, your Kitchener home insurance brokers have your back! The professional team of insurance brokers at Morison Insurance will ensure you get the homeowners insurance coverage you need, as well as fulfill your vehicle insurance, business insurance, and other types of insurance needs. We’re here with you through every step of the insurance process, from the initial inquiry to getting a policy to midterm coverage questions to renewal time. Give us a call at 1-800-463-8074, or request an insurance estimate online, to get the coverage for home insurance Kitchener residents can rely on!