Homeowners that their home is one of the most significant investments. While basic home insurance covers general risks like fire, theft, and water damage, some situations require additional protection. In Calgary, where you face unique natural risks like earthquakes and sewer backups, it’s important to consider adding specific coverage options to your home insurance.
In this blog, we’ll walk you through adding earthquake and sewer backup coverage to your home insurance quote, ensuring you’re prepared for unexpected events.
Why Earthquake Coverage Is Important in Calgary
While earthquakes might not be the first thing that comes to mind when you think about home insurance in Calgary, it’s actually a risk that should not be overlooked. Though Calgary isn’t known for frequent earthquakes, the possibility still exists, particularly in areas closer to fault lines. Earthquake coverage can protect your home and belongings if a seismic event causes damage to your property.
Although unlikely, Calgary’s proximity to certain fault lines means that an earthquake is still a possibility. Earthquakes can result in substantial damage, such as foundation cracks, structural damage, or even complete collapse in extreme cases. Without this coverage, repairs from an earthquake could be expensive, and your basic home insurance policy might not cover it.
What Does Earthquake Coverage Include?
Earthquake insurance typically covers the following:
- Structural Damage: Coverage for any damage to the walls, roof, foundation, and floors of your home.
- Personal Belongings: Protection for personal items inside the home that may be damaged due to an earthquake.
- Temporary Living Expenses: If your home becomes uninhabitable, this coverage can help cover your living expenses while repairs are being made.
When to Consider Adding Earthquake Coverage to Your Home Insurance
If you live in an area of Calgary closer to fault lines, or if your home is older and has a weaker foundation, consider adding earthquake coverage to your home insurance. If you’re unsure, an insurance expert can help assess your risks and determine whether adding this additional layer of protection is worth it.
What Is Sewer Backup Coverage?
Another essential yet often overlooked coverage is sewer backup protection. Sewer backup coverage can save you from major financial headaches in this scenario.
Why Sewer Backup Coverage Is Essential for Homeowners
Sewer backups occur when wastewater from the city’s sewer system flows into your home. This can happen due to blockages, heavy rain, or problems with municipal systems. While basic home insurance policies typically cover water damage from burst pipes, sewer backups are often excluded. That’s why this coverage is so vital for Calgary homeowners.
What Does Sewer Backup Coverage Protect Against?
Sewer backup coverage helps protect you from:
- Water Damage: Covers repairs to your basement or home caused by backed-up sewage.
- Clean-Up and Restoration Costs: Includes the cost of clean-up and potentially hazardous waste removal from your home.
- Property Losses: Compensation for losing personal property and household items damaged during a sewer backup event.
How to Assess Whether You Need Sewer Backup Coverage
If your home has a basement or is in an area with old or poorly maintained sewer systems, you may be at a higher risk for sewer backups. If you’re unsure, it’s always a good idea to talk with your insurance agent about adding this important coverage.
How To Add Additional Coverage to Your Home Insurance Quote
Adding earthquake or sewer backup coverage to your home insurance quote in Calgary is relatively straightforward. Here are the essential steps to follow:
Contacting Your Insurance Provider
Reach out to your current insurance provider or explore new options to inquire about adding additional coverage options. Make sure to explain your interest in earthquake and sewer backup coverage.
Evaluating Your Needs Based on Your Home’s Location and Condition
Consider where your home is located in Calgary and the risk factors you face. For example, if you live near a fault line, earthquake coverage might be more of a priority. Similarly, if your home has an older plumbing system, sewer backup coverage is a must.
Discussing Specific Coverage Options
Work with your insurance provider to discuss the specific coverage options available. You’ll want to understand exactly what’s covered and any exclusions or limits in the policy.
Cost Considerations for Additional Coverage
The cost of adding earthquake or sewer backup coverage depends on several factors, such as:
- The Value of Your Home: The higher the value of your home, the more coverage you’ll need, and the higher the premium.
- Your Location: Homes near earthquake fault lines or older plumbing systems may incur higher costs.
- Deductible Choices: Higher deductibles can lower your premium, but it’s essential to balance cost and coverage.
The Impact on Your Quote
Adding these coverage options will increase your premium, but the added protection can be worth it in case of a claim. Be sure to evaluate your budget and you can also read on how to lower your insurance quote.
Conclusion
Adding earthquake and sewer backup coverage to your home insurance is a proactive way to protect your home against risks that a standard policy might not cover. In Calgary, where natural disasters and unexpected events can occur, this additional coverage can provide peace of mind and financial security. If you’re ready to make sure your home is fully protected, consider reaching out to us. We’ll help you manage your coverage options and provide you with the correct home insurance quote for your needs.