Compare the best Halifax home insurance quotes & save today

The best home insurance will offer comprehensive coverage, including specific perils (risks) to your unique situation. With that in mind, let's consider what coverage is often not included in a typical home insurance policy and what you can do to prevent them. 

Water: Damage from flooding is the #1 home insurance claim in Canada. Flooding comes in many forms, but your home insurance policy typically only covers a flood from a burst pipe. So, consider a more comprehensive flood insurance policy that includes overland water and sewer backup. 

Contents: Your stuff and valuables are protected, but only up to a certain amount as listed on your policy. Do you have a rare stamp collection? Lots of expensive jewellery? Anything that is outside that norm and dear to your heart, make it known to your insurance company so they can properly insure it. 

Also, remember to compare quotes so you can get the best home insurance price.  Bundle your policy with your Halifax auto insurance to save up to 20% off your premiums. Increase your deductibles and decrease risks around your property by installing monitored alarms and tending to small matters (e.g. a patch in your roof) before it becomes a major issue. 

The average cost of home insurance in Halifax is $780 per year or $65 per month. Of course, condo insurance in Halifax will be less since it's shared with the building and the condo unit is isolated from many perils. A renter looking for apartment insurance, while it will depend on the size, location, and total cost of contents, it should fall between $15-$20 per month. 

A home insurance peril is an unknown or accidental event. For instance, if your home is struck and damaged by lightning, creating a hole in your roof, there is no way you could have prevented it. But a home insurance policy is not a maintenance plan so if your roof has slowly degraded over time and now needs replacing, it is not a peril since its eventual replacement is expected.

Begin by making a complete list of damaged or stolen items. Take photos, and write what happened down as soon as you're able. Try to think of all the details.  Call your insurance provider as soon as you can and ask about your coverage. Let them know if you can’t currently live in your home as you may be entitled to hotel and food expenses. A claims adjuster will be in contact with you to fill out a proof of loss form. Ask about using your own contractor or if you’re required to use one they supply to repair the property. 

A deductible is the portion of the claim you’re responsible for paying before the insurance company will pay the rest. The higher your deductible, the cheaper your insurance premiums. 

There are some risks not included in a typical policy. Most are due to wear and tear that gets worse due to negligence. For instance, mould is seen as a lack of maintenance from a homeowner. If a home insurance claim could have been avoided with regular maintenance, you can expect it to not be covered.

Other common exclusions include infestations from termites or rats, home businesses, dangerous dogs, and sewer backups. On the east coast, adding flood insurance coverage for overland water and sewer backup should be high on the list, especially if you're in a high-risk zone.  Be sure to check with your insurer about what is and isn’t covered. 

Depending on when you cancel, there should be no charges to switch at the end of your contract. If you’re switching mid-term, you may incur some cancellation and administrative fees. If you’ve paid your premium annually, you may be entitled to a refund.  Read our blog about switching insurance companies, for more info.