
What to do if your home insurance claim gets denied
Whether you’re a tenant or a homeowner, you often have recourse.
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Home insurance is a major component of homeownership. It protects your property, family and possessions from damage and liability. Without home insurance, you may be disqualified from mortgages or left to pay out of pocket in the event of property damage.
When it comes to purchasing home insurance, you’ll want to make sure you’re getting the best coverage at the best price. LowestRates.ca compares home insurance quotes from providers in Quebec, offering a quick and painless way to find great coverage.
Here, we break down what you need to know about protecting your property in Quebec. We also offer you the opportunity to get a quote that can help you save.
See how much you could be saving on home insurance.
Type of home | Location | Previous claims | Lowest Rate | Average rate | Saved |
---|---|---|---|---|---|
Quote from March 04, 2021 Type of home Detached, 1,650 sq ft | Location Mascouche | Previous claims None | Lowest Rate $1,166/yr | Average rate $2,430/yr | Saved 52.00% |
Quote from March 04, 2021 Type of home Detached, 2,090 sq ft | Location Gatineau | Previous claims None | Lowest Rate $669/yr | Average rate $976/yr | Saved 31.00% |
Insurance companies look at a wide array of categories to determine your annual premium. Many of the details considered concern your property and where it’s located. Insurers also look at who and what’s inside your home to determine proper coverage.
If you or your property are deemed more risky to insure, your premium will reflect that.
Quebec is known for its picturesque summer and fall seasons, but is notorious for its bitter, harsh winters. Consistent, freezing temperatures pose unique risks to homeowners in the province.
Freezing conditions
Though it’s colder in the northern province than it is in the south, freezing pipes are still a concern during the winter season throughout the province. Snow is also common for at least three months total, with peaks in January and February. Ice storms have historically impacted southern Quebec, freezing power lines and filling storm drains with the eventual thaw.
Regions at highest risk: Western and Central Quebec.
Excessive snowfall
In north-eastern Quebec, where snow averages can top 146 inches for the winter, a strong roof is paramount to maintain the building’s structural integrity and protect its contents. Providers will definitely be interested in the age and type of roofing material installed on your home.
Regions at highest risk: Central Quebec, Northeastern Quebec.
Aging housing stock
Quebec is known for its Gothic and Victorian architecture, and you can be sure insurers will inquire about the last renovation of older homes, their heating and electrical systems, what has been upgraded, staircases, and if entry and exit points are secure and/or accessible.
Regions at highest risk: Quebec City, Montreal.
The amount of coverage required for your property should reflect the value of the home itself, plus all the important contents within. Keeping track of how much everything is worth and noting any renovations or big purchases will ensure you have an accurate valuation.
In Quebec, it’s crucial to protect your home from winter damage, frozen or broken pipes, flooding, and falling trees. Burst pipes and exterior damage from heavy snow or fallen trees may be covered with named perils coverage, depending on your insurer. Creating a space that is safeguarded from these scenarios is even better; insulation, structural upgrades and winter maintenance can go a long way.
It’s important to discuss your coverage options with your broker or provider and read over your policy thoroughly.
Comprehensive or All Perils - An all perils or comprehensive insurance policy will cover nearly all risks, except those explicitly excluded. The most expensive type of coverage available.
Basic or Named Perils - With named perils insurance you will only be covered for losses related to the perils named explicitly in your policy.
Broad - Generally considered to be a good compromise between comprehensive and basic policies. A broad policy protects the structure of your home from all perils, while its contents are only covered against named perils.
No-Frills - This policy will be your most basic coverage option that will still cover the cost to replace or repair your property, but may leave out ornamental coverages such as room and board in the event of a fire, for example.
Endorsements are additional coverages you can add on to your policy to protect valuables that may not be included in traditional property insurance. For example, you may want to add on an endorsement to protect your expensive jewelry or fine art collection from damage or theft. Endorsements are also referred to as “riders” or “floaters”.
The regulatory body for insurance in Quebec is called L’Autorité des marchés financiers (AMF) and it governs using the Act respecting Regulation of the Financial Sector, S.Q. 2013.
The AMF, as mandated by the Quebec government, regulates and oversees Quebec’s financial markets, approves rate changes, and assists consumers with financial products and services.
You can save on almost all types of property insurance policies in Quebec if you know where to look. It’s important to recognize the discounts you’re eligible for so you don’t end up spending more than needed.
Some of the most common property insurance discounts in Quebec relate to:
Picking the best insurance provider can be challenging, as there are several companies in operation catering to assorted property types and homeowners in Quebec.
Homeowners in Quebec benefit from the diversity and competition within the insurance industry, which is why shopping around is one of the first steps to take when you’re looking for a new provider. Whether you want an international, Canadian or Québécois insurance company protecting your property, LowestRates.ca can help you find the right fit. Here are some of the major insurance companies operating in the province:
Whether you’re a tenant or a homeowner, you often have recourse.
Neither is consistently cheaper than the other, but they do have meaningful differences.