Coverage to protect your home and the life you've built inside it
Your home is one of your most valuable investments, and the right home insurance helps protect it from the unexpected.
Homeowners insurance tailored to your home and lifestyle
Essential protection for your home, belongings, and peace of mind
Home insurance is designed to help you recover if your property or belongings are damaged, if you need a temporary place to stay after an insured loss, or if you’re held responsible for causing injury or property damage. Coverage typically falls under three key categories:
Physical damage
Protects your home and other structures on your property, such as decks, fences, garages, and sheds. It can also include coverage for your personal belongings, furniture, and valuables.
Liability coverage
Supports you by paying legal expenses if you or someone in your household is held responsible for injuring another person or damaging someone else’s property.
Additional living expenses
Covers costs such as accommodation, transportation, and food if you need to leave your home temporarily due to a mandatory evacuation or while it’s being rebuilt or repaired following an insured loss.
Custom options
Ways to personalize your home insurance
Your home is personal to you, and your insurance can be too. Optional add-ons, also known as endorsements, can give you extra protection for specific valuables and situations that may not be fully covered by a standard policy.
Adds protection for certain types of water damage, such as sewer backup, heavy rainfall, spring runoff, or overflow from nearby lakes and rivers.
Provides additional coverage for jewellery, fine art, wine and other collectibles or belongings with values that exceed limits available under standard home insurance.
Provides protection if you occasionally rent out your home through platforms like Airbnb or VRBO.
Extends your policy to include damage caused by earthquakes and related events, such as landslides or avalanches.
Offers support if you or someone in your household is affected by a cyberattack, data breach, online fraud, cyberbullying, and other online threats or cybercrime.
Can help with the steps and costs involved in restoring your identity and repairing your credit after identity theft.
FAQs about home insurance
Home insurance helps protect you from the financial impact of unexpected events, such as fire, theft, certain types of water damage, or liability claims. Without it, you could be responsible for paying out of pocket to repair or rebuild your home, replace your belongings, or cover legal costs.
It can also provide support if you need somewhere else to stay while your home is being repaired after an insured loss. For many homeowners, having the right coverage is an important part of protecting their long-term financial security.
If you have a mortgage, your lender will usually require proof of home insurance before finalizing financing.
Home insurance can be tailored to your specific needs, but most standard policies include a few core types of protection. A knowledgeable Navacord advisor can help you understand what’s included, where your limits apply, and whether additional coverage is appropriate.
Your policy may include coverage for:
- Your home’s structure, including the main building.
- Other structures on your property, such as detached garages, sheds, fences, or boathouses.
- Personal belongings, such as furniture, clothing, electronics, and other contents, up to your policy limits.
- Personal liability if you or someone in your household is held responsible for injury or property damage.
- Additional living expenses if an insured loss makes your home temporarily unlivable.
You may also be able to add optional coverage for specific needs, such as:
- Higher liability limits for added financial protection.
- Replacement cost coverage (based on current replacement value without deducting for depreciation) for eligible personal belongings.
- Extra protection for valuables as jewellery, art, collectibles, or other special belongings.
- Additional coverage for electronics, computer equipment, or other personal property that may need specialized protection.
- Coverage options that reflect the contents of your home, especially if you have recently completed a home inventory.
Yes. Home insurance can often be customized with optional add-ons, also called endorsements. These can help extend your protection for specific risks or belongings, such as valuables and collections, watercraft, increased coverage limits, or certain types of water and weather-related damage.
Home insurance policies generally include liability coverage, which can help with legal expenses if someone is injured on your property or if you accidentally damage someone else’s property. Depending on your policy, this may include defence costs, settlements, or awards.
Home insurance premiums can vary based on several factors, including:
- Where your home is located. Insurers may consider nearby fire services, local crime rates, weather patterns, natural disaster risk, and proximity to bodies of water.
- The coverage you choose. Your limits, deductible, and optional add-ons all play a role in your overall premium.
- Your home’s details. The age, construction type and condition as well as the systems in your home can influence how it is assessed by underwriters.
- Prevention and detection features. Systems such as sump pumps, backup valves, water alarms, burglar alarms, security cameras, and smoke alarms may help reduce risk and could qualify you for discounts.
- Your insurance history. How long you’ve been insured and whether you’ve had previous claims can also affect your rate.
Yes. Each insurance company may use different factors and pricing models to calculate premiums. A Navacord advisor can help you compare options, understand what may be influencing your rate, and look for ways to manage your costs.
