When you are looking for home insurance and comparing policies, it is important to conduct research and create a checklist. Be sure to compare coverage and liabilities policies, and be aware of any limits policies may have on personal property.

Here are the four top considerations when buying home insurance:

Home ownership: When you own your house, your insurance policy covers the building, its contents as well as outbuildings (the shed and detached garage). Since most homeowners policies have limitations, make sure you are aware of them. Know what your policy covers, as well as what it excludes. Determine what your top priorities are, especially in light of your lifestyle, and make a decision based on that. 

Liability: If someone visits your home and suffers an injury or property damage while there, you could be held liable. You can protect yourself from potential claims by obtaining liability coverage.

Personal property: It is standard for homeowners insurance policies to cover personal belongings, including appliances, clothing, furniture and electronic equipment. At the same time, policies usually place limits on specific items. However, you can increase your coverage through getting a rider to your policy.

The 'Peril' factor: Sometimes events happen unexpectedly and accidentally—these may include vandalism, fire, wind and theft. Home insurance policies typically cover peril events such as the ones listed. On the other hand, events which are considered predictable or preventable, such as frozen indoor pipes, for the most part are not covered and are considered 'uninsured perils.' In a previous article, we offered tips for guarding against the risk of freezing pipes.

For more advice about home insurance in Hampton, Rothesay or Saint John, New Brunswick, contact Fundy Mutual.