Home Insurance in Timmins

Quality home insurance made easy for Timmins customers

Have you struggled to find quality home insurance solutions in Timmins? Those days are gone thanks to BrokerLink. BrokerLink is a full-service insurance brokerage that has an entire team of property insurance specialists. Our team can help you find whatever type of home insurance you’re looking for, whether that’s vacation property & cottage insurance, standard homeowner’s insurance, rental property insurance, tenant insurance, and more. No matter what type of policy you’re interested in, it’s important to understand how it will cover you. Below is a list of typical coverages featured in Timmins home insurance plans:

Dwelling coverage

Did you know that most Ontario home insurance plans have dwelling coverage? It is a home insurance staple due to the important role it plays. Dwelling coverage offers financial protection in the event that the physical structure of your Timmins home is damaged by a peril that is named in your policy. You can choose which perils you want to be included in your policy, with some of the most common ones being:

• Fire
• Lightning
• Smoke
• Theft
• Wind
• Car / aircraft impact
• Explosion
• Falling objects

Content(s) coverage

Content(s) coverage is another type of home insurance coverage that is commonly found in Timmins insurance policies. With this coverage, you can have financial protection in the event that the items inside your home are damaged due to an insured peril. For example, if a fire breaks out and damages your clothes or the sporting equipment in your garage or basement, you might be entitled to compensation through the contents coverage portion of your policy. As with dwelling coverage, to receive compensation, the damage must have been caused by a peril named in your policy, which may include fire, smoke, theft, wind, etc. Please note that not all personal items may be covered, especially ones of high value. So if you have expensive jewellery, priceless artwork, vintage wine, musical instruments, or other high-value items in your home, you may need to purchase additional contents coverage, which a broker for home insurance can help you with.

Personal liability coverage

Personal liability coverage is one last coverage type that you are likely to see on your Timmins home insurance policy. This coverage may be part of basic homeowner’s insurance in Ontario, but there is nothing basic about it. In fact, this type of coverage is crucial, as dwelling and contents coverage only deals with property damage, whereas personal liability coverage relates to liability claims. While damage can be stressful, so too can a lawsuit - not to mention expensive. But if you have personal liability coverage on your Timmins homeowner’s insurance policy, your insurer can help cover costs like legal fees, medical expenses, repair bills, and more that arise from any third party property damage or bodily injury claims brought against you.

Is there any additional coverage I should add to my Timmins insurance policy?

There might be! In fact, Timmins customers have several options when it comes to adding extra coverage to their home insurance policies. A few examples of coverage commonly added to home insurance plans in Timmins are as follows:

Business coverage

Operating a business comes with risk. Whether you run it out of your home or not, commercial insurance is important. However, if you run a business out of your home, it would be a mistake to assume that your homeowner’s insurance policy covers you. Speak with a broker about the insurance needs for your home business, but in most cases, if you want to be protected, you will need to purchase a separate commercial insurance policy for your business or at the very least, add a commercial insurance rider to your home insurance policy.

Equipment breakdown coverage

As the name suggests, equipment breakdown coverage is designed to cover you in the event that covered equipment in your home experiences a failure and breaks down. Given how expensive repairing or replacing major household appliances and equipment can be, many customers consider this type of extra home insurance coverage to be worthwhile. If there are specific pieces of equipment you want to be covered, be sure to speak with a broker as not all insurance policies will cover all types of equipment. That said, it is fairly common for equipment breakdown insurance to cover washers, dryers, dishwashers, refrigerators, ovens, HVAC units, and more.

Sewer backup coverage

Is there any scenario worse than a sewer backup? A sewer backup without the proper insurance. Although insurance may not be able to prevent a sewer backup from occurring in your home, it can prevent you from dealing with the financial fallout. In other words, by adding this unique type of flooding insurance to your policy, your insurer can help pay the cost of any repairs that may be needed following a sewer backup.

Overland water coverage

For additional protection against flooding, Timmins customers may wish to add overland water coverage to their policies. This type of coverage is designed to safeguard your home in the event that it suffers water damage resulting from a nearby lake/river, overflow, heavy rain, or rapid snow melt.

What you should not expect your Timmins home insurance plan to cover

Home insurance cannot cover everything, and Timmins homeowners must be prepared for this. While the following list is not exhaustive, the experts at BrokerLink have put together a few circumstances that are not typically covered by homeowners’ insurance policies. If any of the scenarios below apply to you, such as if you are going away for a long period or are renting your home on Airbnb or VRBO, we urge you to speak with an insurance broker about your plan as soon as possible. This way, you can ensure you have the protection you need:

• Home sharing: Home sharing is when you rent your home out to guests, typically on a short-term basis. Airbnb and VRBO are two examples of popular home sharing websites. While this can be a fun and lucrative endeavour for Timmins homeowners, it isn’t without risk. As such, a basic home insurance policy likely will not protect you if a guest causes damage to your property.
• Empty or vacant home: Leaving your home empty for an extended period of time also increases your risk, especially the risk of theft or vandalism, which is why many home insurance plans won’t automatically cover policyholders with empty homes. Be sure to contact your insurance broker or agent about any plans to leave your home empty for 30 days or more.
• Disrepair or failure to maintain: As a homeowner, you are responsible for the upkeep of your property. Failing to maintain it can lead to a state of disrepair or neglect, which could make you liable for any damage that occurs. In other words, if you allow your home to fall into a state of disrepair, any home insurance claims you make could be rejected.
• Home renovations: Renovations are exciting, but they also increase the risk of property damage and bodily injury. For this reason, most standard Timmins homeowner’s insurance policies do not cover losses that occur during a home update or renovation. If you have plans to renovate your home, contact an insurance broker to find out what additional coverage you may need to add to your policy.

Lower your Timmins insurance premium with these tips

Are you actively looking for ways to avoid an insurance premium increase? You are in the right place. Keeping your premium low is one of the best ways to save money on Timmins home insurance, and there are many strategies you can employ to get there. From installing a sewer backup loss prevention device in your home to bundling multiple products together, check out this list of effective tips for cutting costs on home insurance:

Reconsider your house insurance coverage needs before your policy renews

Needs change, and your insurance coverage should change with it. The coverages, limits, and deductibles you chose when you first purchased your policy may no longer reflect your needs, and that’s okay. Every time your policy is up for renewal, you have the chance to update it. Even if you decide to stay with the same provider, you can raise or lower your limits, raise or lower your deductibles, and even remove or add coverage. You should never settle for a home insurance policy that doesn’t work for you. Even better, depending on the updates you make, assessing your needs annually and changing your plan accordingly can actually save you money - especially if you remove coverage, lower your limits, or raise your deductibles.

Install a home security system on your property

It pays to be safe. In addition to helping you avoid theft or vandalism, installing a security system on your property may also make you eligible for a home security insurance discount. Discounts vary between providers, but if you buy and install a qualifying system, you could end up paying less for home insurance.

Buy multiple insurance products together and get 15% off

The process of buying multiple insurance products together from the same provider is something known as bundling. In the insurance world, this is an effective method of paying less for insurance. Since bundling promotes loyalty, insurance companies are more likely to offer discounts - and serious ones, at that often as high as 15% per policy. Your options include mixing and matching, such as by bundling home and auto policies, or sticking to the same type of insurance and purchasing two products, such as homeowner’s insurance and rental property insurance.

Pay for your Timmins insurance policy upfront

A quick way to save money on your Timmins property insurance policy is to pay for it upfront. How does this cut costs, you might be wondering? It can help you avoid paying extra fees that you would otherwise have to pay if you chose a monthly payment schedule. This may not be the case with all insurance providers but many some charge administrative fees for payments, so the fewer payments you make, the more money you can save.

Think carefully before buying a new home

The features of a home can have a significant influence on how much you pay for Timmins property insurance. From the age of your home and its plumbing, electrical, hot water heater and heating systems to whether it has a pool or is located next to a fire station, can all impact your premium. Contact an insurance broker to learn more about which factors come into play when home insurance rates are being calculated in Timmins. Knowing this information can help you make an informed decision when shopping for a new home.

Don’t hesitate to ask about other home insurance discounts

Get in touch with an insurance professional, such as an insurance broker, and ask them directly about other discounts you might be eligible for. Qualifying for a discount is one of the best ways to keep home insurance costs down in Timmins, and you will probably be surprised to learn all the ways that you can qualify for one. For instance, some insurance companies offer house insurance discounts to customers simply for attending a certain post-secondary institution or being involved with a specific volunteer organization. Even being a non-smoker can help you save.

Purchase a sewer backup loss prevention device

Purchasing and outfitting your Timmins home with a sewer backup loss prevention device is another way to save big on property insurance. These devices are known to detect a sewer backup before it happens, which can help reduce any subsequent water damage. For this reason, some insurers offer property insurance discounts to Timmins customers who take the extra step of installing them in their homes.

Take the time to learn more about home insurance tax deductions

Another way to save money that relates to Timmins home insurance is home insurance tax deductibles. Did you know that you might be able to deduct the cost of home insurance on your income tax return to save money? Although this method doesn’t lower your Timmins home insurance premium, it can still help you save money.

Get in touch with a Timmins insurance broker

Perhaps our favourite tip of all the tips listed above is this: get in touch with a Timmins insurance broker. Working with an insurance broker makes saving money on insurance simple and easy. We know the industry well, which means we will ensure you are always getting the most competitive rates for your home insurance policies. Beyond that, as licenced and experienced insurance professionals, we can let you in on even more money-saving secrets.

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We’re in your community

BrokerLink is a proud member of the Timmins community. Our goal is to uplift our Timmins customers and find quality insurance solutions that meet their needs. Learn more about our home, auto, commercial, and pet insurance services by getting in touch with BrokerLink Timmins today.

Contact us

At Timmins BrokerLink, we’re here to help you with any insurance needs you may have. Whether it’s insuring your home, car, business, recreational items, or pets, let us help you find the best coverage possible.

You can reach us by phone, email, or in person at our convenient Timmins location on Algonquin Boulevard East. No matter how you choose to get in touch, a BrokerLink insurance advisor will be happy to assist you. We also encourage you to take advantage of our free online quote tool that can provide you with a competitive quote in minutes.

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Timmins property insurance FAQs

If you have any questions, contact one of our local branches.