Start with your housing situation
Record whether you rent, own and occupy, or let the home. The structure, belongings and liability to others are different risks. If a building is jointly managed, obtain the relevant building or association policy as well as your own documents.
Compare the wording as well as the premium
Read the policy alongside the quote. Ask about covered events, exclusions, limits and the amount you would pay towards a claim. A lower premium is not a saving if the risk that matters to you is excluded.
- Which property, people and uses are covered?
- How is the settlement amount calculated?
- How are water, natural-hazard and liability claims treated?
- What conditions apply during absence, vacancy or letting?
Discuss renovation and a move in advance
Tell the insurer about planned work, its duration and how the property will be occupied. Ask in writing what remains covered and whether construction-related risks require another arrangement. A contractor’s insurance does not automatically insure your own interests.
Prepare a useful conversation
Collect current policies, building details, use of the property and known claims information. Keep an inventory of significant belongings with photos and receipts stored safely. Take unresolved questions to an appropriately authorised insurer or intermediary before changing a contract.
Your next step in Canada
The Financial Consumer Agency distinguishes homeowner, condominium and tenant arrangements. For a condo, compare your own cover with the corporation’s policy. Check replacement value versus depreciated settlement, deductibles and any extra flood or earthquake coverage. Tell the insurer about shared occupancy or a home business.
Turn the next question into a plan
Buying a home: what to check before you commit
Look beyond the listing. Prepare your viewing, investigate documents and allow for the costs that come after the purchase price.
Open the guideBuilding and renovating: compare the whole job
Prepare a clear brief, choose suitable contractors and make extra costs visible. Use a project cost sheet based on your own figures.
Open the guideBuilding permits: prepare your local application
Find the responsible authority and the questions to ask before work begins. Keep permissions, funding and contractor agreements in the right order.
Open the guideReady to plan the rooms?
Once the building and the work are clear, plan furniture, storage and the kitchen around the space you will actually have.
Explore furniture and kitchen planning