Home, Condo and Tenant Insurance in Ontario
There are three main areas of protection offered by home, condo and tenant insurance in Ontario:
- Property Damage – if your home and belongings are damaged, this coverage helps you replace them.
- Personal Liability – if someone gets hurt or has their stuff damaged at your home or because of your accidental actions, this coverage can help cover damages and legal expenses if you’re sued.
- Additional Living Expenses – if you’re forced from your home because of an evacuation order or a covered claim, your insurance will help you cover those extra expenses with food, transport and accommodation.
While Ontario home insurance will cover the structure of your building, condo and tenant insurance will not. Condo insurance covers everything from the walls in and can also cover loss assessments. Tenant insurance will cover your belongings. This is because your condo’s master policy or landlord’s insurance won’t cover your stuff but will cover the building.
There are many coverage options for home insurance. It’s best to work with an Ontario insurance broker to ensure you get the right coverage for your home.
Recreational Vehicle Insurance in Ontario
Recreational vehicles include:
Protecting your recreational vehicles helps ensure you can continue to enjoy your hobbies in the future. While you can add these to your home insurance, a separate policy offers the best protection – and you won’t have to make a claim against your home insurance if something happens.
Coverage varies for each type of recreational vehicle, but every policy will include liability and property damage coverage. This means that you’ll be protected if someone’s hurt or their stuff is damaged and if your recreational vehicle is damaged.
Commercial and Small Business Insurance in Ontario
What’s covered by a commercial insurance policy in Ontario really depends on your individual business. Here are the most common types of coverage:
- Property Damage – covers damage to your company’s premises and belongings like inventory, furniture, equipment, and more.
- Commercial General Liability – covers you if someone is hurt or has their stuff damaged.
- Professional Liability – if a client sues you for financial loss because of your professional service or advice (or failure to provide it), this coverage will help you with legal expenses.
- Cyber Liability – helps you navigate and recover from a cyberattack or data breach.
- Equipment Breakdown – covers repair or replacement of equipment if it fails due to mechanical or electrical breakdown.
- Business Interruption – if your business is forced to shut its doors because of an evacuation or covered loss, this will help you cover your ongoing expenses like payroll and utility bills.
- Commercial Auto – protects your work vehicles, similarly to your personal car.
There are many more options for commercial and small business insurance in Ontario. The right protection will depend on your company’s needs and budget, so it’s a good idea to work with an Ontario insurance broker to ensure you’re getting the best coverage for the best price.
If you host an event, you can be held responsible for any injuries or damages that are caused by attendees. Whether you’re holding a wedding or a corporate event, ensure you’re not paying out of pocket for anything that happens.