What does property insurance usually cover?
It depends on the type of property you are insuring, whether it is a home, condominium or apartment. If you own a house, your property insurance will cover the house itself and any detached structures (e.g. garages). You can choose to insure your house against most unexpected situations, or only against situations specified in your policy. Your property insurance will also cover your personal belongings which include: jewellery, artwork, furniture, computers, carpets and more. If you have a large amount of high-valued items you may need to purchase additional coverage to ensure you will be fully reimbursed. Talk to your broker to discuss your needs and learn about your options. Most property insurance policies also include third party liability if somebody is injured while on your property.
