Renew

Unlike your auto insurance, your home insurance policy is not automatically renewed.

Very often, insurers will send a renewal notice 30 days before the policy expiry date, but they’re not required to do so. To make sure you’re always well protected, write down the home insurance policy maturity date in your agenda.

Don’t intend to renew your home insurance policy with your current insurer? Let him know!

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Modify

Have you made major renovations to your home or installed a new space heater? Have you acquired valuable property? It’s important to inform your insurer so that your insurance amount always reflects the actual value of all the property that you own. Some renovations can even lower your insurance premium! 

Also, be sure to inform your insurer if someone is moving in with you or if you have a new pet. The contract should be drafted including the names of everyone living under your roof to ensure that all are adequately protected. 

Cancel

You have found a home insurer who is offering a lower premium and want to cancel your policy with your current insurer? You can cancel your insurance policy at any time and for any reason.

To do so, you must send a written notice to your insurance agent or broker. However, you may be charged a penalty. (The longer the remaining policy term, the higher the penalty.)

Your insurer also can decide to cancel your insurance policy if, among other reasons, you have not paid your premium. If this is the case, your insurer must send you a written notice and the cancellation will take effect 15 days after the notice is received. The insurer will reimburse you a portion of the premium, where applicable, for the non-used portion of the policy.

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Insuring your apartment

As a tenant, you don’t think you need home insurance. Find out if you are right.

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