Be careful: In some cases, certain property and some risks are excluded from home insurance, whether you’ve chosen basic insurance or all-risk insurance. In other cases, coverage is limited.

Examples of exclusions:

• The pool in your backyard is not covered and must be insured separately by an endorsement (additional coverage).
• A leaky roof or basement and sewer backups are not covered unless you purchased additional protection.
• The consequences of flooding are generally excluded from insurance contracts. However, some insurers may offer coverage for certain types of situations, such as rising water, dam breaks or the overflow from a waterway. It is therefore important to pay close attention to the coverage that your insurer provides for water damage and to shop around, if need be.

Examples of limitations:

• Your basic home insurance may only cover the first $200 in cash. If thieves steal $500, you won’t receive a refund for the full amount.
• Coverage is limited for certain items, such as jewellery, collections and fine arts.

To be protected against risks that are excluded or limited, you must take out additional coverage (endorsements or riders). Even then, some insurers do not cover certain risks such as floods and landslides. Be sure to ask for details about additional coverage.

Check which risks are excluded and which items are subject to limitations. If you have questions, speak with your insurance agent or broker.

Avoid problems

You must notify your insurer of any changes, such as:

• If you make major home renovations;
• If you are away from your home;
• If you set up a home office;
• If you purchase valuables.

Important exclusions or limitations could apply. Also, if you plan to be away from your home for several consecutive days during winter, you should cut off the water supply and drain the pipes, or ask someone to drop by your home—possibly every day—and make sure there are no problems. Check with your insurer!