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Charlottetown Home Insurance

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Home insurance = peace of mind 

Charlottetown, the capital of PEI, is located on the south shore of the province and has a population of almost 40,000 people. The city is referred to as the birthplace of Canada as a result of having hosted the inaugural meeting of the Confederation, the Charlottetown Conference, and is commemorated through several buildings, a ferry boat and the Confederation Bridge. If you love the outdoors, there's the Confederation Trail, a 400 kilometre network of walking and cycling trails covering the entire province! A bonus to living on a small island? Every major point of interest on the Island is less than a half-day drive! Charlottetown has been named one of the top cities to live in Canada. It is a great place to raise a family, with lots of outdoor spaces, higher education institutions, a growing population, a thriving economy, and a low cost of living. 

Home insurance is not legally required in Canada, especially for those who have paid off their home. But, it is mandatory for those who need to get a mortgage. Since buying a home is one of the biggest investments people make, it's important to consider getting homeowners insurance to protect the place they live, raise a family and keep their belongings. These are all things that a homeowners insurance policy can cover and we can help with that.

Comparing rates from Canada’s leading Home insurance providers
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Types of Coverage We Provide
Home Insurance
This provides coverage for loss and damage to your property and/or any assets.
Liability Coverage
This would provide protection against a lawsuit resulting from damaged property or personal injuries
Deductible
A predetermined amount of money that you must pay towards the cost of the claim. Home insurance has different deductibles for different coverage.
Sewer Backup, Overland/Ground Water
These are optional coverages you can buy that protect you for water damage such as sewer back up and fresh water flooding.
Claims Forgiveness
This allows for the protection of your “claims free discount” in the event of your first claim.
Scheduled Items
Referring to 'special limits' on items like jewellery or art if the value is greater than the special limit you should list the item separately.
Comprehensive Coverage
When you purchase comprehensive home coverage, it means you are covered for anything that is not excluded.
Broad Coverage
When you purchase broad home coverage, it limits your contents coverage to only specific coverages, (ie. theft, fire, water damage, etc.)

Home Insurance In Charlottetown

Because all insurance companies offer different rates and different coverage types, it’s difficult to say what the ‘best’ insurance company is. Your individualized property needs will dictate the right provider for you. Some of the most popular home insurance companies in Charlottetown include Economical, Wananesa, Travelers, Royal Sun Alliance (RSA), Intact and Aviva.

The cheapest home insurance provider depends on how your situation fits into the formula companies create to evaluate policyholders. Comparing quotes with Surex will allow you to get the cheapest price on home insurance and get you the best insurance coverage for your situation.

For homeowners who hold a mortgage, having home insurance is a necessity. This is because banks and mortgage lenders want to know borrowers (i.e. homeowners) have a backup plan in case one of three unfortunate events happens: (1) something happens to the homeowner’s home (either repairable damages or a total loss), (2) someone is inadvertently injured while on the homeowner’s property, or (3) the homeowner accidentally causes damage to another person’s property. A basic home insurance policy will cover a homeowner in any of those three scenarios, and will — by extension — ensure the homeowner will remain financially fit to continue servicing their mortgage.

On the other hand, if you own your residence outright (i.e. you’ve paid off your mortgage), you are not required by any level of government in Canada to hold a home insurance policy. However, when you compare the cost of an annual insurance policy — usually somewhere in the $800 to $1,200 range — to the value of your home and its contents, it becomes clear that protecting your assets is a wise move. Surex strongly recommends home insurance for all homeowners — just be sure to shop around and find a policy that’s affordable!

Best Parks in Charlottetown
  1. Victoria Park
  2. Confederation Landing Park
  3. Tea Hill Provincial Park
Top Attractions in Charlottetown
  1. Confederation Centre of the Arts
  2. St. Dunstan's Basilica
  3. Beaconsfield Historic House
Best Restaurants in Charlottetown
  1. Olde Dublin Pub
  2. Papa Joe's Restaurant
  3. Sims Corner Steakhouse & Oyster Bar
LOB: city

Fantastic, quick, and answered every question I had.

Kristin — Charlottetown, PEI

Have questions? We've got answers:

In rare cases, you can denied home coverage by insurance companies. Usually, this would be due to risks that the insurance company deems to be too dangerous or potentially too costly. These risks could include severe and sustained weather conditions, compromised structural quality of the home, or extremely high neighbourhood crime rates. This is another reason why comparing coverage options on Surex.com is so helpful — if you’re denied coverage by one company, you can keep looking until you find a provider who will meet your needs.

Home insurance typically comes in three forms: (1) Comprehensive or All Perils, (2) Basic or Named Perils, and (3) Broad. Comprehensive is the most complete form of coverage available, protecting your home against all threats (excluding those which require additional coverage — such as high-value items and water damage — and those specifically left off your policy). Basic coverage protects your home and its contents against those threats that have been specifically added to your policy. Broad coverage is a combination of the previous two, protecting your property in a ‘comprehensive’ sense, and protecting your belongings in a ‘basic’ sense. Speak with a qualified Dedicated Insurance Assistant about what home insurance coverage type is right for your property.

Home insurance rates in Charlottetown are impacted by a range of variables, including age and location of home, type of home, home construction details, replacement cost of home, personal claims history, coverages selected, deductible amount, value of possessions, nature of home improvements, neighbourhood crime rate, and home safety and security features.

It doesn’t happen every time someone purchases a policy, but sometimes an insurance company will send an inspector to examine your property. Here are a few things they might request to look at: the condition of your roof, your home’s electrical wiring, your home’s plumbing (pipes older than 50 years are especially of concern), oil tanks for heating (these can cause costly problems, especially if they leak), and open fireplaces or wood-burning stoves (a specialized technician may need to inspect fire hazards for safety and proper installation).

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