Ontario Comprehensive Home Insurance Policy List Of Coverages

Often when people call us for a home insurance quote, they also want to know what the policy covers. We deal with over 15 different insurance companies, so there may be small differences between the companies. But, generally, they have the same coverages. To make it easier, we compiled a list of coverages on the standard home insurance policy. Start with this and then call us for a quote, where we’ll be able to tailor the coverages to suit your needs.

List of Perils

First, let’s start with the list of perils that are generally covered under a comprehensive home insurance policy. The perils include the following:

1. 1. Collapse of building
2. 2. Lightning
3. 3. Windstorm or hail
4. 4. Melting of ice or snow
5. 5. Impact by land vehicle
6. 6. Falling object
7. 7. Explosion
8. 8. Fire
9. 9. Electricity
10. 10. Damage caused by bears
11. 11. Glass breakage
12. 12. Riot
13. 13. Weight of ice, sleet, or snow
14. 14. Vandalism and malicious acts
15. 15. Transportation
16. 16. Smoke damage
17. 17. Theft
18. 18. Impact by aircraft
19. 19. Water damage

Optional Perils

Then, there are perils that are not part of the standard home insurance policy, but can be added on at your option. The optional perils often include the following:

1. 1. Sewer back-up
2. 2. Overland water
3. 3. Surface water
4. 4. Ground water
5. 5. Water & sewer lines

Coverages

The following are the coverages that you’ll normally find on the Ontario comprehensive home insurance policy:

1. 1. Dwelling building (with guaranteed replacement cost)
2. 2. Detached structures (this could include things like sheds and fences).
3. 3. Personal property
4. 4. Loss of use – Dwelling (also called “additional living expenses”)
5. 5. Personal liability

Limits

There are certain limits to the above coverages. Most Ontario comprehensive home insurance policies will have the following limits:

1. 1. Business property – $5,000 limit
2. 2. Cannabis and cannabis plants – $500 limit
3. 3. Luggage and handbags (including purses and wallets) – $10,000 limit
4. 4. Money – $1,000 limit
5. 5. Securities – $5,000 limit
6. 6. Spare auto parts – $1,000 limit
7. 7. Utility trailers – $1,000 limit
8. 8. Watercraft – $2,000 limit
9. 9. bicycle – $1,000 limit per bicycle
10. 10. Coin collections – $1,000 limit
11. 11. Collectible comic books and cards – $5,000 limit
12. 12. Jewellery, watches, and furs – $5,000 limit
13. 13. Stamp collections – $1,000 limit

The above limits vary between insurance companies, but these are usually the standard limits. Your policy might be different, depending on the insurance company. And, any of the above limits can usually be increased if requested.

Mow, call us for a home insurance quote. We’d love to quote you and set up a policy tailored to your specific needs. Our phone number is at the top of this page.