Property insurance can provide coverage for loss or damage to:
• your home or personal possessions
• your car
• your business.
Casualty insurance can provide coverage against legal liability for losses caused by:
• injury to other people
• damage to the property of others.
Home (property) insurance
For most people, a home is the largest single purchase or investment they will make. Home insurancecan help protect your home or contents in case of theft, loss or damage.
Home or property insurance pays for damage to or loss of your house, condominium, or property.
It can also protect against damage, theft or loss of your personal possessions. Home insurance may
also cover personal property stolen from your vehicle.
Your home insurance policy may also cover damage or injury to others who visit your home or property.
For example, if someone slips and falls in your driveway, that person may be able to make a claim
against you for the expenses incurred as a result of damage or loss caused by the injury.
Home insurance can also pay for accidental damage you cause to others’ property. For example,
if a fire starts in your house, your home insurance can pay for the damage the fire causes to your
neighbour’s house.
Home or property insurance is usually required as a condition of getting a mortgage. Most financial
institutions will not give you a mortgage without proof of insurance.
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