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Catherine Poirier

Broker, 100% Club, ASA, Broker, Executive Club, Hall of Fame, Lifetime Achievement, Platinum Club

Phone (905) 531-4147   •   Cell (905) 531-4147   •   Fax (905) 945-2982
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Catherine Poirier


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Homeowners Insurance

When buying a home, one word you will hear often is "insurance." As a homeowner you are concerned about protecting your house, your personal belongings and your personal liability. It is important that the coverage you choose provide the comprehensive protection that you need. Contact Me and we will put you in touch with a trusted professional. Visit my Buyers Page or Sellers Page and I will be happy to help!

Homeowners InsuranceHomeowners insurance protects you and your house against losses from fire, theft, liability, vandalism, water damage, wind damage, tornadoes and loss of use. Earthquake and flood insurance are not included but can be purchased separately.

 

Types

There are three types of homeowners policies to choose from. A clear understanding of the coverage each type offers will help you select the right policy for your needs. Each type carries a deductible amount you select.

  • A standard policy requires coverage for at least 80% of the value of your home, excluding land and the foundation. It will usually insure your personal property at actual cash value.

  • A broad-from policy is more inclusive than the standard policy and covers additional named perils such as glass breakage, smoke damage, etc.

  • An all-risk policy covers even more than do the standard and broad-form policies. An example of a covered risk might be damage caused to your roof from ice build-up in the gutters.

Some of these policies offer optional guaranteed replacement cost coverage on your home and its contents. Replacement cost coverage will pay to rebuild your home and replace its contents with no depreciation coming into play.

It is important to understand that the replacement value of your home is based on your insurance company's estimate of the cost to rebuild your home on your property. It is not based on the purchase or appraised value of the home. Most policies have a built-in annual increase of replacement cost coverage.

 

Reducing Premiums

When purchasing homeowners insurance, there are ways of lowering your premium. Most insurance companies offer discounts for smoke alarms, fire extinguishers, dead bolt locks, and whole-house alarm systems. If your home is fairly new, or if you elect to insure your automobiles with the same company, you are likely to receive a discount on your premium.

Another way of lowering your premium is to select as high a deductible as you can afford. Raising your deductible reduces your premium.

Insurance is the type of service you buy hoping that you will never have to use it. Discuss With Me your unique needs and concerns when you purchase the insurance and whenever your needs change. The right insurance can give you a sense of security in knowing that you are adequately protected. Visit my Buyers Page or Sellers Page and I will be happy to help!

 

Home Warranty

A home warranty is an affordable way to cover the costs of unexpected mechanical failure of a major system or appliance. A home warranty is specifically designed to cover the kinds of repairs that home insurance does not: appliances, plumbing and electrical, air conditioning and furnaces, and pool equipment.

The average annual cost of a home warranty policy is between $250 and $400. Most home warranty companies offer comparable coverage within the same price range. The premium is payable at closing and customarily protects you for one full year. Repairs are typically handled through the home warranty company with a minimal deductible. Often times the cost of the first year premium is offered as an incentive by sellers to solicit the sale of the property.

The age and condition of the home should be a consideration when choosing to purchase a home warranty. A fifteen year-old home with original equipment, versus a two year old home will likely have different financial risks. Your REALTOR® can help you decide if a home warranty policy is right for you based on your individual circumstances.

 

Why Should I Consider a Home Warranty?

Homeownership is expensive enough all on its own, without adding the cost of repairs and replacements. When moving into a home where appliances and systems have been previously used, there is always the chance that the general wear and tear, or the way in which they were previously used and maintained, could cause breakdown and/or complete failure. These repairs/replacements can be astronomically costly and often times occur unexpectedly. A home warranty will protect you financially from most of the frequently occurring breakdowns of home system components and appliances. Contact Me if you have any questions about home warranty's or would like more information about them.

Discuss your unique needs and concerns with your home warranty representative. If you do not have a trusted home warranty representative, your REALTOR® can refer you to one.

This information is meant as a guide. Although deemed reliable, information may not be accurate for your specific market or property type. Please consult a REALTOR® professional or home warranty representative for more information home warranty policies.

If you would like more information on anything or if you have any questions Contact Me and I will be happy to help. If you are looking for your next dream home visit my Buyers Page or if you are wanting to sell your home visit my Sellers Page. Visit my About Beamsville page, my About Lincoln page, my About Grimsby page, my About St. Catharines page, or my About Vineland page for more information about any of the areas I specialize in.

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