Home Insurance in Bridgewater Offers Protection and Peace of Mind
The coastal town of Bridgewater, Nova Scotia, has much to offer its 8,790 residents. For example, outdoor lovers can sail the waterways, hike scenic areas and bike around the region. Other popular activities are sailing, kayaking and fishing. Of course, homeowners should have home insurance in Bridgewater for protection and peace of mind so they can enjoy life in the town to the max.
The average price of a home in Bridgewater in 2023 was $423,804. No matter the specific cost of your home, though, it is an investment worth protecting. Fire, wind, lightning, theft or other events could occur and lead to huge losses. Home insurance is a smart way to mitigate risks and plan for a secure future.
Nova Scotia is a maritime province, so you may want flood or hurricane coverage for additional protection (it’s important to note that standard policies usually don’t include flooding). Bridgewater is no stranger to unpredictable or extreme weather. The town experiences 166.2 days of precipitation per year, and rain is common. Water can cause issues in a home, as can the LaHave River if it floods.
Types of Home Insurance in Bridgewater To Consider
Nova Scotia does not require home insurance, but lenders mandate it. You should have it even if you own your home free and clear. Why risk losing that investment since you don’t have to? Home insurance comes in three main types: basic, broad and comprehensive.
Basic Home Insurance
Also called named perils, basic home insurance covers specific risks you choose such as fire or lightning. It offers protection against these risks but not others such as theft that you do not choose. Basic insurance can be relatively cheap but does not offer enough peace of mind for many homeowners.
Broad Home Insurance
This type of midprice insurance applies to direct physical loss or damage to the physical structure of your home and its contents. It can cover most perils, but if a peril is not named, the insurance may not apply.
Comprehensive Home Insurance
This type of home insurance in Bridgewater offers the most protection. You still need additional policies for specific types of coverage such as flood, though.
Each insurer offers different comprehensive policies, but the following list outlines what you can find in many of these policies.
- Dwelling: This covers structural elements such as your home's roof, walls and floors. Attached structures such as a garage fall under dwelling coverage, too.
- Other structures: If you have a detached garage, it falls under other structures coverage. So do fences, sheds and other structures not connected to the main dwelling.
- Personal liability: If people get hurt in your home or on your property, they may sue. This helps with lawsuits.
- Voluntary medical payments: This coverage can help with medical bills for injuries on your property.
- Personal property: This covers the value of the items in your home if named perils such as fire or theft damage them. It applies to belongings such as electronics, furniture and clothing. To insure higher-end assets such as artwork and jewelry, you likely need extra coverage.
- Additional living expenses: This coverage can help with temporary accommodations if your home is being repaired or rebuilt.
- Voluntary property damage: If you or someone else in your household accidentally damages another person’s property, this coverage can offer reimbursements.
Flood damage and other perils do not come included as a matter of course. You have to get them separately. You may also have unique insurance considerations if you run a business from home or have tenants, among other scenarios.