Protect Your Woodstock Home
Oxford County homeowners can protect their investments with home insurance in Woodstock. Find how to obtain coverage for a home located in the Dairy Capital of Canada, a region with an average annual rainfall of 805 millimeters and snowfall of 157 millimeters. HUB International insurance brokers help customers assess risks and select the best policies for residences in Woodstock, which “MacLean’s Magazine” ranks in the top 25 places to live in Canada as of 2021.
Insure A Residence in Woodstock
Median home prices in Woodstock are average compared to the rest of Ontario and are in the upper 40% of real estate listing prices across Canada. Property owners in this Ontario city should protect their residences with home insurance in Woodstock. Here are three of the most common types of property policies:
- Homeowners insurance: Home insurance covers detached, single-family homes. These policies cover damage from specified perils, including accidental fire, water and storm damage.
- Condominium insurance: Residential property insurance is also available for owned condos and townhouses. Condo insurance policies cover the structure and contents of these types of residences against similar perils as home insurance, but they are subordinate to building insurance coverage.
- Tenant insurance: Renters insurance is available for the contents of rented residences in Woodstock and Oxford County, Ontario. These policies do not cover structural damage, which should be covered by the property owner’s insurance.
Policies for Comprehensive Protection
Residential property insurance only provides so much coverage. In the event of a large or total loss, the best home insurance in Woodstock will cover the complete cost of reconstruction. Policyholders should be aware of policy limits and decide whether to obtain additional coverage for valuable assets. Extra coverage for high-dollar assets can enable the limited amount of coverage included in most homeowners' policies to apply to other contents that require restoration or replacement. A HUB broker can help Woodstock homeowners obtain more comprehensive coverage through any of these additional policies:
- Fine art: Artwork and other valuable or rare articles that are displayed or stored in a Woodstock residence can be appraised and insured at value. This item-specific coverage is helpful if valuables get stolen, require restoration or become irreparably damaged.
- Jewelry: Jewelry is one of the most common high-dollar assets found in Canadian homes. Insurance policies are available to cover these assets against damage, loss or theft. Separate coverage for these valuable articles can be helpful in the event of a large or total loss that involves many or all the contents of a home.
- Personal umbrella: Homeowners insurance includes a limited amount of liability coverage. A personal umbrella liability policy can effectively raise the liability limit of home insurance in Woodstock and increase protection under certain other policies, such as automotive insurance.
- Auto insurance: Insuring vehicles driven in Ontario is compulsory. HUB brokers help Woodstock residents find car insurance policies that meet the requirements of this province and include any additional areas of coverage or benefits preferred by a policyholder.
Insuring valuable assets separately raises homeowners insurance policy limits. It is also worthwhile to note that most home insurance policies exclude flood damage and that homeowners cannot purchase insurance for overland flood damage in Canada. However, governmental financial assistance programs are in place to help Canadian homeowners after flood events. Home insurance in Woodstock can cover all or most of the expenses associated with damage caused by fire, water, storms, and other common perils.