A Small Town That Lives Big
Okotoks, located on the Sheep River 24 miles south of Calgary, is a beautiful town in Alberta, Canada. A population of over 36,000 and an annual growth rate of 3.34% are strong evidence that this town is a great place to live.
With a median household income level of $135,000 and a cost of living of almost $6,000 per month, responsible residents understand the importance of maintaining home insurance in Okotoks to protect their investments.
Protect Your Investment With Home Insurance in Okotoks
With a wet season lasting for nearly five months and snowy weather lasting for seven, Okotoks sees precipitation of some type for a significant part of the year. While residents report feeling very safe living in Okotoks, the town's proximity to the larger city of Calgary leaves homeowners at risk of theft or vandalism. To protect from these hazards, securing home insurance through HUB International can be a wise investment.
What Type of Home Insurance Do You Need?
A typical home insurance policy assists with the costs of repairing or replacing your home and your belongings in case of damage from covered sources. While policies and their associated deductibles and exclusions vary, most insurance policies offer similar benefits for the following perils:
- Damage from aircraft or falling objects
- Damage from vehicles
- Explosions
- Fire and smoke damage
- Lightning, hail and wind
- Theft or vandalism
Coverage for Structures
If any of these covered perils cause damage to your home or its attached structures, such as a garage, most home insurance policies will help with the cost of repair or replacement. Additional policies are often required to cover freestanding structures, such as a storage building or a detached garage.
Coverage for Personal Belongings
If a covered peril causes damage or loss of contents in your home, a standard home insurance policy will generally cover the cost of replacing these items. Covered items may include clothing, equipment, furnishings or other valuables, such as jewelry. Policy limits apply, so it is important to complete a valuation of your possessions to ensure your policy limits are high enough to cover the loss.
Coverage for Additional Living Expenses
If your house is damaged or destroyed, your homeowners' insurance may assist with your living expenses while you are displaced. This may include the rental of a home or hotel room, meals and other necessary incidentals.
Coverage for Liability
If you or a member of your family face a lawsuit due to being responsible for injury to another person or damage to another person's property, liability protection can provide financial assistance to pay for your defence.
Additional Coverages
Coverage can be added to your standard home insurance policy to include the following:
- Flood damage, which provides assistance in the event of water damage or loss due to a flood
- Medical payments, which cover costs associated with injuries to third parties occurring on your property
- Damage to other structures, which covers repair or replacement costs for additional structures on your property, such as fences, pools or outbuildings
Understanding Limits
Home insurance can include a wide range of coverage, depending on the value of your property as well as your unique living conditions and financial situation. Our professional brokers understand how to determine the value of your property and can assist you in setting your policy limits at a level that will offer sufficient protection with affordable monthly prices and reasonable deductibles.