Protect Your Home and Family With Comprehensive Homeowners Insurance
Ajax is a thriving town in the Southern region of Ontario, and residents enjoy a healthy real estate market. Ontario is one of the more expensive regions to call home in Canada, but an active job market and strong economy make homeownership a reality for a majority of Ajax residents. When combined with Ajax home insurance, those who choose to buy a home have an investment that will reap strong returns.
Property Value
The average home value in Ajax lies between $600,000 to $800,000, and homes move quickly on the market. Because of the proximity to major cities like Toronto, it holds a suburban reputation and has a younger demographic for the bulk of its residents. For those who settle down in the area, the cost of living is far more affordable than in nearby Toronto, allowing their money to go further.
Property Risks
By moving to Ajax, you will enjoy low crime rates, greater schools and plenty of shopping and entertainment options. However, your lifestyle is threatened by property damage risks like flooding, earthquakes, strong winds or other unexpected events. While you can’t fully prepare for the weather possibilities that could damage your home, you can look at comprehensive home insurance coverage with HUB International.
The Necessity of Ajax Home Insurance
Many homeowners aren’t required to carry homeowners insurance, since it isn’t mandated by Ontario laws. Those who have a mortgage or another financing situation may need to carry insurance coverage to satisfy a lender’s requirements.
Even if not required, home insurance provides financial support for the unexpected risks of homeownership. Some of the things you need to worry about include:
- Personal injury to visitors to your property
- Property damage to a third party on account of an incident involving your property
- Home damage occurring from inclement weather, fire or vandalism
- Theft of personal property from a home invasion
- Legal expenses for a lawsuit involving property liability
These are significant financial expenses that are hard to prepare for. HUB brokers can help you identify the key risks you face and recommend a policy, coverage limits or add-ons to ensure you have the financial support necessary in case the unexpected happens.
The Coverage Decisions Available for Ajax Home Insurance
There are six common coverage areas in a standard homeowners insurance policy. Although the terms may vary by the insurance company, the sections generally include the following.
Dwelling
This coverage protects the dwelling on your property and any attached structure to the house. Exclusions for damage typically include floods, earthquakes, poor maintenance, insect damage or wear and tear.
Personal Property
This coverage in an Ajax home insurance policy is for your possessions, whether at the property or off-site when with damage occurs. Most policies use a named peril basis and have specific limits and exclusions.
Other Structures
Your property may have a fence, outbuilding, playground, pool or other non-attached structure. This extends coverage to these items.
Loss of Use
When your home is uninhabitable during repairs, this coverage helps with living expenses. Loss of access must be from a covered peril.
Medical Payments
This coverage addresses the costs of third-party injuries sustained at your home. It won’t help if a family member is hurt.
Personal Liability
This insurance protection helps with defense costs if you are legally responsible for injury or damage to another party or property. Intentional acts are not available for coverage.