Home Insurance 101: Coverage you didn’t know you had

Sometimes it’s easy to forget what is and what isn’t covered in your home insurance policy. This is why it’s important to review your policy once a year or so. You probably know that home insurance covers things like roof collapse and electrical fires. But did you know that your home insurance also covers you for things like identity theft and your stuff in your car?

Here are some things that you might not have realized are included in your home insurance.

Personal Belongings

The personal belongings of a parent living in a long-term care facility
Do you have a parent or relative living in a retirement home? Did you know that their stuff is covered under your policy (up to a certain limit). However, for coverage to apply they must be under your legal guardianship.

The personal belongings of a student away at school
Is your child moving away for university or college? You’ll be happy to know that under your home policy, their belongings are protected. But, if they’re renting in a student house or condo, they may want to get tenant insurance.

TIP: If your teen is living at home and driving, you’ll need to add them as an additional driver to your auto insurance policy.

Stuff in the garage and the garden shed

Good news – your garage and shed (and the stuff stored in it) on your premises is covered under your home insurance policy. This means if the contents are damaged or stolen, you’ll be covered by your insurance. If you own anything expensive like a road bike or power tools and keep it in your garage, you might want to consider additional coverage for higher-value items.

Did you know? If your personal belongings are stolen from your car by a stranger (even if it’s not parked in your garage) it’s still covered under your home policy.

Spoiled food
You may be covered for loss or damage of food if your refrigerator or freezer breaks down or the power goes out. However, you won’t be covered for items that were already expired…

Liability Coverage

Volunteering
Your liability coverage includes when you work as a volunteer. If you accidentally break something or injure another volunteer while at a local food bank, you’re covered against lawsuits.

Accidents
If your kid (who is 12 years old or younger) accidentally breaks your neighbour’s window while playing basketball, your home insurance will cover the cost of the damage up to a limit.

Pet incidents
The same goes for a dog bite. If your dog or cat causes harm to someone, your liability covers you if you’re sued for injury or damages.

Identity theft
In the seldom case that your identity is stolen, your home insurance policy should have you covered. And if you notify and get approved by your insurer, you could get reimbursed for any legal fees. You also might be eligible to be paid any lost wages during the time it takes to sort the issue out. If you’re insured with Sonnet, identity theft expenses coverage is included in all home policies, but be sure to check in with your insurer!

Going green
In the event of a claim, your insurer could cover the increased costs to replace an insured property with environmentally friendly or energy-efficient products. At Sonnet, we acknowledge going-green efforts – we can cover the additional costs up to the limits on your policy.

Did you know? Most of this also applies to tenant insurance (if you’re a renter)! Read more about how you’re covered as a tenant.

Additional home insurance coverages

Hail and earthquake coverage
Certain areas of Canada are prone to hail and earthquakes – and they can cause a lot of damage to your home. With Sonnet, hail coverage is automatically included in a standard home policy (except if you’re a homeowner or landlord in Alberta. If you’re a renter or a condo owner in Alberta, it’s already included with your policy).

Earthquake coverage is optional. Although, if you’re a resident of British Columbia or the Ottawa River valleys where earthquakes are prone, you might want to add this coverage to protect yourself from potentially costly damage.

Your home is probably your biggest investment so it makes sense to protect it. When damage or loss occurs, it can be emotionally and financially devastating. It’s best to review your policy often to make sure there are no surprises. Extra due diligence goes a long way.

TIP: Plus, when you review your home insurance you may as well find out how you can save. Find out if you qualify for Sonnet’s Canadian University Alumni discount, professional discount, or group discount.

Find out how easy home and auto insurance can be.