Find Affordable Home Insurance in Moncton, New Brunswick
More than 85,000 people call Moncton, New Brunswick, home. Finding affordable home insurance in Moncton helps you put down roots in this thriving region. Nicknamed Hub City, Moncton has a historical reputation for being a transportation hub with its railroad stops.
Because the city is located in the middle of New Brunswick, it is within easy driving of Riverview. The city offers everything residents need to live comfortably, but they can make a short three-hour round trip to Saint John when they want to experience the fun and entertainment of a major metropolis. Whether you are looking for the perfect home to raise a family or want to find a place to start building the life of your dreams, protecting it with insurance is a good idea.
Why you need Home Insurance in Moncton
Moncton is a relatively safe city with a Crime Severity Index of 60.14, but theft is still a concern for many of the homeowners in the region. Natural disasters such as severe thunderstorms can cause damage from flooding and high winds, and fire is also a serious risk. If you encounter any of these disasters, you could lose thousands of dollars' worth of property and belongings. Carrying home insurance in Moncton is the best way to protect your investment.
Research Home Insurance Options
New Brunswick does not require you to have home insurance, but you cannot usually obtain a mortgage loan without a homeowners insurance policy. You have four types of home insurance policies to choose from:
- No Frills: Minimal coverage that applies to properties that do not meet the standards for better insurance policies.
- Named Perils: This basic coverage protects your home from specific dangers such as theft, smoke and lightning, but it only applies to the perils that the policy names.
- Broad: Provides the same coverage as a named perils policy but extends to all major structures on a given property.
- Comprehensive: Offers coverage for most major events that could damage your home, also providing coverage for the contents inside the house.
New Brunswick also allows you to purchase optional coverage. For further protection for your home and belongings, you may choose to add on flood, earthquake and/or sewer backup insurance.
Understand Your Coverage Limits
Each insurance provider offers its own coverage limits. Some policies cover a minimal amount of damage, while comprehensive policies may cover the cost of destroyed belongings in addition to damage to the structure. It is important to carefully review each policy option to ensure it meets your specific needs.
Understand which potential disasters your policy covers so you are prepared if you ever need to fix damage to your house. Some people prefer to invest in comprehensive coverage and include every available add-on insurance policy while others hope to save money by purchasing basic coverage that covers the cost of damage to the house but does not include coverage for belongings.
Find an Affordable Rate
Home insurance in Moncton can save you thousands of dollars if you experience a disaster that causes damage to your home. While the average cost of broad homeowners' insurance in Moncton is $781 per year, each provider has its own rates, and comparing coverage options and policy types can help you find the most affordable policy for your family. In many cases, you may save money by bundling a home insurance policy with other types of coverage, such as an auto policy.