Property insurance

Property insurance isn’t mandatory in Ontario. However, it is highly recommended as it can protect you in case of unforeseen damage to your property.  Additionally, your bank may require it as a condition of your mortgage. Your home is likely the largest purchase you will ever make, so why not protect it. 

Property insurance protects your home and your belongings, as well as you and your family, from legal liability to others and their property. Property insurance provides peace of mind that you are financially covered in the case of damage to your property. 

Comprehensive coverage offers the highest level of coverage from the highest number of threats. It may be called “All-risk” or “All-perils” coverage, as it gives you protection against all threats unless specifically excluded from your policy.   

Your deductible is the amount you are responsible for paying in the scenario of a settlement of a claim. Once you have paid the deductible, the insurance company will cover the rest of the eligible costs. 

Catastrophic weather events include hurricanes, tornadoes, blizzards, droughts and the like. In most cases, if one of these weather events damages your home, your CAA Homeowners Insurance will cover you. All our policies cover damage caused by events such as lightning, windstorms and hail. For even more protection, we recommend you discuss additional options, such as CAA Water Coverage, with your CAA agent or broker to obtain the best coverage for you.