Claims forgiveness is an optional addition to your home insurance policy. In the event of your first property claim; that claim will be waived as if it never happened, your rates not increase due to the claim, and you maintain your claims-free discount. Upon your renewal, if you make another claim it will be treated as your first.
Many factors are taken into consideration with insurance carriers' underwriting guidelines; from past claims to future predictions. A big reason is postal code. All variables and information regarding your home are correct and updated to provide you with the best suited insurance protection while gaining all applicable discounts.
Request a copy of your condo corporation’s insurance policy (if you don’t already have one) and read through it carefully to see what level of responsibility you have. And of course, if you need help reviewing it, you can speak to an BKIFG insurance broker.
Your condo corporation’s insurance policy only covers items that are originally part of the building and its common areas (walls, roofs, floors, elevators, swimming pools, and any associated outbuildings). That’s why it’s important to get condo insurance, which is designed to cover: Your personal liability - should someone hurt themselves while visiting your condo. Any investments you’ve made to upgrade the unit Your shared responsibility of common areas Your condo unit - in case your condo corporations insurance doesn't cover your loss fully
Whether you are going away for the weekend or an extended amount of time, you always want to make sure your: Doors and windows are shut, gates to the backyard are closed, all faucets and water sources are shut off, big electronic items are unplugged It is important you have someone you trust check on your home while you are away. You don’t want to come home to a flooded kitchen.
Claims forgiveness is an optional addition to your home insurance policy. In the event of your first property claim; that claim will be waived as if it never happened, your rates not increase due to the claim, and you maintain your claims-free discount. Upon your renewal, if you make another claim it will be treated as your first.
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