What You Need To Know About Your Home Insurance
While having home insurance isn’t mandatory in Ontario, most banks require you to have proof of it before you get a mortgage. Also, many apartment landlords require you to have home insurance before move in day.
1. You Need to Maintain Your Home
Things like keeping an eye on your roof’s shingles, watch for cracks or leaks in walls and flooring, keep eavestroughs clear and other maintenance tasks are important. If your insurance company learns that you haven’t taken the proper steps to keep your home in working order, they can choose to deny your claim or even worse - cancel your home insurance policy.
2. Even If You’re Renting, You Should Have Insurance