- Business property
- Overland water
- Sewer backup
- Service line
- Umbrella liability
- Home business
- Identity Theft
- Coverage for a parent in a nursing home
- Seasonal Residences
Common Questions You May Have
We begin our process by asking you some detailed questions about your house. We will then input that information into our rebuilding cost calculator. This is an industry approved program that estimates the rebuilding cost of your house. The estimated rebuilding cost value is the primary factor in determing your premium.
If it looks like you aren’t home the likelihood for a break-in or malicious damage is a lot higher. If you leave your property unattended it is always a good idea to have someone pick up your mail, ensure your yard is tended and inspect the interior on a regular basis.
Special note for travelling during the colder months:
Water damage from frozen pipes is not covered if the home is left unsupervised. So if you are away during the regular heating season you should have a trusted person check your residence daily. We also recommend turning off your water and draining the pipes if possible.
If there is a business or office in your home, the insurance company must be made aware of it. Coverage usually needs to be added separately and is subject to different guidelines than homeowners insurance. Just a heads-up: failure to notify your insurance company of a home business can result in a denied claim.
Without getting too technical, the major difference between broad and comprehensive coverage is that comprehensive will provide enhanced coverage for your contents. The most commonly denied claims under a broad form policy are mysterious disappearance (missing luggage) and accidental damage (a ring falls down the drain). If you had a comprehensive policy these losses would be covered.
Homes are insured for their estimated replacement cost, not for their market value. Because your home would be rebuilt in the event of a total loss, the limit of insurance required on the home can be much lower or higher than its market price. If you have concerns about your insurance limits, please contact us to discuss them.
Not necessarily. These two coverages need to be purchased additionally and are not automatically included in your policy. The availability and pricing is based on preventative measures you have taken (sump pump, back water valve) and the “risk zone” in which your property is located. Not all companies offer overland flooding coverage because it is brand new to the market.
Special limits are categories of property that have a unique limit of insurance. Examples of property with special limits are cash, jewelry, furs, bicycles and business property. Limits of insurance on such items vary by company and, in some cases, by policy.
Coverage can usually be extended for an additional premium. Each company’s wording booklet details the items and limits that apply. Contact us for more information.
If you no longer require your policy, we can cancel it by written request only. All individuals named on the policy must sign for cancellation. If your policy is up for renewal, sign the back of the policy for cancellation and return it to us. On renewal only the policy is returned for flat cancellation, meaning no cancellation charge or refund applies. If you wish to cancel your policy midterm, a cancellation fee proportionate to the number of days remaining on the policy will be applied against any refund.
We will need to know when you plan on starting, the nature of your renovation and if you plan on staying in your residence throughout the renovations. Major renovations that result in vacancy should be discussed prior to their start, as a vacancy or construction permit may be required. You should also let us know once the work is completed so we can update your insurance.
No. Coverage is only provided for the named insured, their spouse and any dependents. Tenants and other individuals should obtain their own contents policy. While coverage may be extended to include other persons, it is usually at an additional cost and is not recommended. Failure to notify your insurance company of tenants will void your coverage.
If you previously shared the policy with another person and they no longer require it, you must have them sign a release of interest form in order to have them removed.
We require a written release of interest from the mortgagee in order to remove them from your policy. This document can be obtained from the bank or your lawyer.
That’s a valid concern. It’s important to remember that the actual house isn’t the only factor in determining your rates.
Here’s an example: Let’s assume we are insuring two identical houses; one in the inner city and one out in the country. The house in the inner city is at a higher risk for crime or malicious damage whereas the country house would have a higher risk for severe weather events. So, even though the houses are identical, the two risks would be very different so the insurance companies will charge different rates to account for this.
It’s also important to remember that there are many different discounts that could be out of your control (mortgage-free, age of insured, claims-free, age of house) as well, your neighbour might carry a higher deductible to make their rates cheaper.
That said, if you feel your rates are too high, we are always happy to take a look at our markets for you. We have a large selection of insurer partners that would love to do business with you.
We understand that no one enjoys watching their bills increase. However, just like the cost of groceries, insurance prices don’t stay the same. While an inflationary increase is very common (just like your groceries) we ensure that any substantial increases will be addressed by our renewal advisors. Remember, we work for you primarily, not the insurance companies. If you are not a Crossroads Insurance client yet, we would love the opportunity to quote you. Feel free to use our online quoting tool or you can contact our office for more information.