When people think of home insurance coverage, they usually see it as a fool-proof way to protect their asset. The truth, however, is that most home owners in Edmonton (despite having purchased an Edmonton home insurance policy) are not fully covered.
And by "not fully covered", we mean just that -- not fully covered. You see, what most people fail to realize is that a home insurance policy does not cover everything. Certainly, it covers a lot. Think: vandalism, fire, theft, wind-storms, etc.
While we can't argue against the importance of such coverage, it is imperative that you don't forget just what the policy that you have purchased does not cover you from. In many cases, you can expect earthquakes, sewer backups, wear and tear, mold and valuables (up to a limit, at least) to not be covered under this policy.
Unfortunately, some home owners find about those exclusions too late. The good news, however, is that you can purchase additional coverage for those things. While your monthly premiums will rise as a result, we often like to say that prevention is key -- and this case is certainly no exception to that rule!
Before going any further, we recommend going over the details of your home insurance policy and giving your insurance broker a call. He or she will be able to help you figure out whether or not purchasing extra coverage would benefit you in the long run.
Until then, you might want to read more about such exclusions!