Home Insurance Kitchener

The entire K-W area is stunning. With so many green spaces such as Watson Park, Willowlake Park and Chicopee Park, it’s hard not to like Kitchener especially if you are a hiker or own a dog! 

Home Insurance in Kitchener, Ontario

Kitchener has so many great neighbourhoods to choose from. Alpine Village, Rockway, Idlewood and Lackner Woods are just a few. Just like Cambridge, Waterloo and the Greater Toronto Areas, Kitchener has experienced an incline in real estate prices. This is great for families who already live there and can enjoy some of that equity, but bad for young families trying to buy in Kitchener. 

Home Insurance Vs. Mortgage Insurance?

 

Having home insurance is a great way to transfer risk. When you no longer have a mortgage on your home, it is your choice to insure the property or not. If you still have a mortgage, the lender will require that you carry insurance on that property. 

Sometimes house insurance is confused with “Mortgage Insurance” but the two are very different. Mortgage insurance is a life insurance policy you take out on the amount of your remaining mortgage. Should you pass away, your mortgage will be paid off to your lender. Home insurance is coverage on your actual property should something happen to it such as a fire or windstorm. It is very common to have both policies especially that the mortgage insurance section can cost as little as $20 a month. 

How to Get The Best Home Insurance Price? 

 

Before we jump into how to get the “best” home insurance price, it’s worth defining what “best” means in insurance. Getting the best insurance price does not just mean the lowest. It means getting the coverages you need at the lowest price possible. 

Here is an example: John spoke to two insurance providers. The first price he got was for $855 per year on his detached Kitchener property which he is not renting out. The second company offered $780 per year. John chose the cheaper version. Upon further evaluation, he discovered that the optional sewer-backup coverage wasn’t included in the second price and asked to add it putting his price up to $895. The first company already included Sewer-backup in their quote and offered mort coverage for his area as well. 

So… How Do We Get The “Best” Homeowners Insurance Price?

Your friends at Ambroziak & Rao Insurance Brokers can help you out. An insurance broker who knows Kitchener will be able to tailor the right coverage based on your home and location and quote those same coverages through Canada’s largest insurance companies to see which one offers the best rates. Ambroziak & Rao has been insuring Kitchener homes for the last decade and understand the unique needs of the properties. 

If you would like a quick home insurance quote or have any general insurance questions, you can call (416) 803-2113 or email us at filipa@pbnet.ca. 

We look forward to hearing from you! 

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