Frequently Asked Question About Home Insurance in Chestermere
Here are the answers to some of our most-asked questions about Chestermere home insurance.
Does Chestermere home insurance cover my business?
No, home insurance does not cover Chestermere businesses. However, if you have a home-based business, some insurers offer a special add-on that will cover your business property and general liability. You must inform your insurance company if you’re running a business from your home!
If I rent out my Chestermere home, does insurance cover me or my tenants?
Home insurance will not cover your tenants – they would need a renters insurance policy to protect their belongings and personal liability.
Contact your broker or insurance company if you’re renting out a room, suite or your whole home in Chestermere. You may need a special add-on or different insurance policy to ensure you’re properly protected but this often comes with fair rental value coverage. This will cover the value of rent if you’re unable to rent it out due to a covered claim.
Am I covered by my insurance if I’m doing home renovations?
You should always communicate with your Chestermere home insurance broker or company before you start renovations, especially if you need to leave the house empty while they’re taking place. Renovations mean more risks for your home (due to construction and people visiting) and they can also affect the rebuild value of your house. If you don’t contact your insurance company, you may not be covered.
Is my home insurance affected if I go on vacation?
Yes, your home insurance can be affected when you go on vacation. Empty homes are often targets for thieves and damage can go left unseen for far longer. Inform your insurance company of your travel plans and arrange for someone to visit your home every 48 hours if possible. You may also want to consider turning off the water to avoid winter water damage from a burst pipe.
Insurance companies may reduce your coverage or deny a claim if there is no one checking in on the home every 48 hours or if you leave it empty for more than 30 days.
If someone moves in, are they covered by my home insurance in Chestermere?
You should always let your insurance company know if someone has moved in to ensure they’re added to the policy. If you’re renting a room or a suite out, you may need special coverage and they would need to get a separate renter’s insurance policy to ensure you’re both properly protected.
Is my dock covered by my Chestermere home insurance?
Your dock may be covered by your home insurance in Chestermere. However, you should clarify this with your broker or insurance company as it can depend on the policy and insurer.
Is my boat covered by my Chestermere home insurance?
Some Chestermere home insurance companies will let you add your motorized boat onto your home insurance. This only offers limited protection so you may want to consider a separate boat insurance policy.
If you have a kayak or canoe, it may be covered by your content’s insurance. You may want to “schedule” the item if it is worth more than your policy’s single item limit to ensure it’s fully covered.
Do I need special insurance if I own a high-value home in Chestermere?
If your home is worth more than $1,000,000 you may get specialized high-value home insurance in Chestermere. This coverage is tailored for those who may have higher personal liability and property needs to protect their assets. Your broker will tell you if you are eligible for this coverage.