Home Insurance

Today, Home Insurance policies are extremely comprehensive in coverage compared to many years ago. The basic Fire-Only Insurance policy has evolved to include such great endorsements as Replacement Cost on Contents, Rebuilding Cost for Structures, Additional Living Expenses paid to assist policy-holders out of their homes, and Sewer Backup and Water Escape coverage, to name a few.

Under your Homeowner's policy, you can specifically insure your bicycles, jewellery, firearms, fine arts, sports equipment, coin collections, all on special riders with lower deductibles and specific values. We would be pleased to review these coverages with you.

One of the most discussed and misunderstood areas of a Homeowner's policy is selecting the proper building limit for your home. In general terms, you must insure your home for today's current rebuilding, labor, material, engineering, and 'soft' costs (including debris removal of approximately 5%).

At Dynamic Insurance Brokers, we have software to assist you in outlining an estimate of these costs. As each home is unique in feature, design, and decor, a certified appraiser who specializes in rebuilding cost appraisals should be contacted. For homes of high value, many of our insurers will order, at their expense, this type of third-party appraisal. This report determines the rebuilding limit, which is automatically added to your Insurance Policy. This service is invaluable to our customers should an insured loss occur which requires rebuilding of your present home.

Another area of your Insurance Policy commonly misunderstood is the Contents section. We recommend the Contents section of your Insurance Policy have the replacement cost endorsement included. This means if an insured peril occurs-fire, water escape, theft-you are able to replace your older items with current ones (i.e. ten-year old couch burns, purchase new couch) without depreciation.

Ask us about insuring your golf clubs, hockey equipment, and items of special interest through your Homeowner's Policy. We will be happy to discuss this and any other coverage you are unsure of simply by phoning Dynamic Insurance Brokers.

General Information-Wood Burning Stoves (Homes, Cottages, Rentals):

  • Wood Stove certification began over 25 years ago
  • Over the years, Insurers have tightened the Underwriting Requirements
  • and some Insurers do not cover any Outbuildings with wood-burning heat sources
  • Most stoves built after 1985 will have a Certification label mounted on
  • the rear wall of the stove (CSA, ULC, ITS label). This confirms the stove meets current Canadian Manufacturing Standards
  • W.E.T.T.-refers to Installation Certification and can only be completed by a Certified W.E.T.T. inspector. All Insurers will require the stove meets CSA Code B 365 installation specifications and clearances for all solid fuel appliances
  • Insurance Companies will not insure homemade or other stoves made that do not have the proper certification labels or certified installation of units and attached pipes
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