What’s a global limit and how does it work?

A global limit is the maximum amount that we’ll pay towards a covered loss on a homeowners or landlord policy. Coverage ranges from $1 million to $4 million, depending on the value of your property.  
 
There are three main coverages that contribute to your global limit if you make a claim:

  • Home and detached structures
  • Personal belongings (landlord belongings)
  • Extra expenses after a loss (fair rental value)

Here’s how it works 
Say you had a fire in your kitchen and it needs to be rebuilt. Plus, all your kitchen appliances and contents need to be replaced and you have to live elsewhere and eat out while repairs happen. Your global limit will help cover these types of expenses so you can get back to normal after a loss happens.