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The average price of homeowners insurance in New Brunswick is $781 per year or about $60 per month. However, the price fluctuates greatly based on location, size of your home, and type of home insurance. 

So, let's say you're looking for condo insurance, your cost is likely closer to $40 per month because the building also has its own insurance (which you pay for through your condo fees). 

If you need apartment insurance, it gets even cheaper. You could get a price for as little as $15 per month depending on the value of your possessions. Renters insurance does much more than just protect your contents, though. It also gives you liability in case someone injures themselves on your property and pays for room and board if you need to live elsewhere following a claim. 

To ensure the best home insurance you often need extra coverage. That could include buying flood insurance or extra contents insurance to protect yourself from risks not included on a standard policy.

Understand that most comprehensive policies are otherwise relatively complete covering fires, windstorms, and other perils from damaging your house (dwelling) and detached structures (e.g. fence, gazebo, etc.)

You also get liability insurance for anyone that injures themselves on your property and chooses to sue.

To save more money, consider renovations and upgrades that improve safety to reduce the risks of a home insurance claim. You can even go so far as to install a monitored alarm system to deter thieves, and maybe earn further discounts on your New Brunswick home insurance premiums. 

Unlike New Brunswick car insurance, where age and gender can play a role in determining your rate, home insurance only cares about the home itself. You can get married, share the home with your new spouse, and even add children if you want to and it won’t affect the rate you pay.

There isn't much excluded from standard policies. If it's not covered, it's most often 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 backup.

Otherwise, you're likely covered. The question then becomes should you make a claim? The easiest answer is the cost of the claim should grossly outweigh the cost of your deductible. If your kid smashes a window and you want to file an insurance claim, first get an estimate on the repair. If the repair is $200 and your deductible is $1,000 then it really doesn't make any sense to file a claim. 

Yes, if you’re unhappy with your rate or customer service, feel free to move on. However, before you do, it’s important to shop around for new home insurance quotes online, select your new provider, inform your old provider and ensure there are no coverage gaps while you transfer. For more details, read our blog on how to change insurance companies.

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.

Make a complete list of damaged or stolen items. Call your insurance provider as soon as you can and ask about what you’re entitled to, especially 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.

Your deductible is the portion of the claim you’re responsible for paying before the insurance company will pay the rest. A higher deductible, meaning you'll pay more than standard in the event of a claim, will result in lower premiums.

Yes, is the simple answer. While Airbnb does provide host protection, it may not be enough. You should contact your insurance provider before any changes to your policy and that includes renting it out. If they’re not ok with you renting your property, you can move your policy to another provider who will.