As Canadians, most of us understand that insurance is important. However, when it comes to understanding why, that percentage drops. A 2019 survey commissioned by belairdirect found that nearly half of Canadians (48%) lose sleep when thinking about their home insurance, and nearly a quarter (23%) of Canadians have not read their home insurance policies.

While tackling insurance can be daunting, at Red River Mutual we know that brokers are at the front line; they’re here to answer your home insurance questions. So when we wanted to share some information, we thought we’d go directly to the source and ask some brokers.

Why Do You Need Home Insurance?

Our homes give us so much. They’re where we feel safe and can create our stories. While we’d like to think we can predict everything, when a loss happens it’s important to have coverage and know what you’re covered for.

How Do You Get Started?

The first thing, beyond speaking to a broker is to get a quote and home inspection. Preparing for a new place can be daunting, but with the support of a broker it doesn’t have to be.

Here are a few questions you can ask yourself:

• What updates were done on the home and when?
• When was the roof, furnace and hot water tank last replaced?
• How old is the plumbing, electrical, sump pump and backwater valve?
• How far are you from a fire hydrant/hall?
• How old is the home?
• What is the square footage of the home and any other buildings on the property?
• Are there any special features to consider? For example, a pool or water feature.

If you can answer these questions, you’re well on the way to receiving an accurate quote.
If you’re still unsure, ask your broker if they have any resources that can help, or visit redrivermutual.com/loss-prevention for tips.

Why Is Getting an Accurate Quote Important?

While getting your quote may take time, particularly with older homes, coming prepared can streamline the process, saving you time, money and worry.

Getting the right coverage for you takes time and care, but don’t forget that you can always ask a broker.

To find a broker in your area go to redrivermutual.com/locateabroker