When you suffer damage to your property or its contents, you expect your insurance company to help you out. And, most do a good job of doing just that.

Still, it’s a good idea to review your policy with your insurance advisor and find out what’s covered and what isn’t. For example, you don’t want to discover that your policy will not cover the cost of repairing the damage caused by a flood in your washroom.

Pay particular attention to coverage in the case of water damage. Some insurance policies don’t cover floods and sewer backup unless an additional rider is purchased.

Also, check liability limits. Ask your advisor to recommend an appropriate level. Finally, make sure you know exactly how much your property is insured for. Are you covered for the full replacement cost? Are you comfortable with that coverage or would you rather only insure for the actual cash value?

Having the right insurance policy gives you peace-of-mind and is an important part of enjoying your investment.

---

Written by Rodney Harvey, Broker of Record at Konfidis, Brokerage providing advisory-focused commercial, industrial, investment, and real estate brokerage services across Oshawa, Durham Region, and Ontario.

---

---

Put my expertise to work for you!

“If you require professional guidance regarding representation structure, transaction strategy, commercial leasing, investment property, due diligence, or real estate advisory services, consultation and representation options may be available depending on your objectives and circumstances.”