Choosing the right home insurance policy requires research and a proactive approach. With something as valuable as a home, prospective buyers are smart to ask questions. Compiled from the website Canada Insurance Source, here are some responses to common home insurance questions regarding canceled policies, home visits prior to coverage, home security systems and the process by which a home's worth is determined. Running through this list of questions prior to speaking with an insurance agent can be helpful. You can then confirm with the agent the particular terms and conditions of your policy.

1.) Can I get home insurance after a previous policy has been canceled? Yes. However, you may have to pay a higher rate to the new company. 

2.) Is it standard for home insurance agents to visit your house before insuring it? Yes. Agents and brokers make visits to ensure that your home is insured properly and to check for potential hazards. In addition, factors such as square footage and the construction of the building will be used to calculate approximate replacement costs for your home.

3.) Does a home security system lower your insurance rates? Yes. Many companies are willing to offer discounts for customers with home alarm systems.

4.) How does the insurance company decide on the worth of my house? Most insurance companies use computer software to estimate the replacement cost of the house. They consider aspects such as the house's construction style, age, square footage and building materials, among many others.  

If you have other questions regarding your home insurance, contact Fundy Mutual. We have experienced home insurance brokers who are happy to answer your questions.