This means your home insurance premium rates won’t increase after your first claim.

Provides home insurance coverage for damage to service lines located on your property. Property owners are typically responsible for these costs.

Covers the systems and equipment you depend on to provide heating and cooling, hot water, electricity, communications and back-power against a sudden breakdown.

Provides home insurance coverage against cyber-attacks like extortion, online fraud, and data breaches.

Provides insurance coverage for high-value items even if they are not located at your home, which is especially important for jewelry.

There are several discounts available to help lower your home insurance rates, some of these are listed below. You can also read this helpful blog story Save Money with Home Insurance Discounts.  Give us a call for a full file review to make sure you are taking advantage of these possible discounts!

• Age of Client
• Age of Home
• Smoke-Free
• Mortgage Free
• Claims Free
• Monitored Alarm
• Credit Scoring
• Septic System
• Renewal Loyalty
• Car & Home (Combined Policy)
• Tankless Hot Water
• Unfinished Basement

Most insurance companies have guidelines that homeowners must adhere to such as shutting off water or having someone check on your home on a regular basis. It is best to check with your Bauld Advisor to ensure you adhere to your home insurance policy requirements.  In the meantime, check out this helpful blog – Home Safety Tips Before You Go on Vacation

We use industry-specific software which uses your square footage and construction details to calculate what it should cost today if you needed to rebuild your home from the ground up. Having this calculation on file allows the Insurer to offer what is known as “Guaranteed Replacement Cost” coverage – this means that in the event of a total loss you would have enough to rebuild your home.

Your insurer will automatically apply an inflationary increase (usually 3-7%) to the Building coverage limit on renewal to ensure you keep up with increasing costs of construction each year. From time to time we may refresh this calculation for accuracy.

Sewer backup only covers damage caused by water coming into your property from a sewer or septic system. If overland water enters your home, sewer-backup coverage will not protect you. Historically, this type of home insurance coverage hasn’t been available as part of any residential insurance policy.

If you have a mortgage on your home, you will need to prove insurance prior to closing. Several factors are considered when providing a home insurance quote, including basic building details and updates to essential systems such as plumbing, electrical, heating, and roofing.

Insurance companies rate by all of these factors, so the better the updates to the home, the cheaper the premium. These items can also limit eligibility for insurance. For example, an old home with knob and tube wiring would not be insurable.

Typically, one claim does not significantly affect rates. You may lose any claims-free discounts, which can vary between 5-15%. However, a second claim within a 5-year timeframe will likely impact both rates and eligibility. Most insurers provide a claims forgiveness endorsement, which protects your claims-free rating after the initial loss.