Toll Free: 1.877.225.0446

Monthly Archives: May 2015

GIO’s Brian Maltman Featured in CBC Article About Home Insurance

This week CBC published an article outlining common home insurance misconceptions that could have a big impact when it comes time to make a claim. One of the experts consulted was GIO’s own Brian Maltman. With a goal of helping everyone understand their coverage and how to avoid surprise exceptions in their policies, the article is a must-read for all homeowners.

This article covers:

  • The 30-day vacancy rule – in which insurance companies can deny coverage for rented properties that have been vacant for 30 days.
  • A limit to jewelry value – most home insurance policies have a limit to coverage for jewelry items.
  • A limit to rare items – much like jewelry, most home insurance policies will limit coverage of rare items to a certain amount, often less than the item’s actual value.
  • Sewer backups and earthquakes not included in basic policies – many people expect that a basic home insurance policy will cover all potential damage, but most policies won’t cover sewer backups and earthquakes.
  • Maintenance exclusions – if your property isn’t properly maintained then that can be grounds for a home insurance claim being denied.
  • Upgrades can affect policies – renovations that can change the value and cost of your home need to be reported to your insurance company. Claims can be denied or policies cancelled if it is found out that renovations have gone unreported.

Insurance can be confusing, but the best way to make sure that you are fully covered is to make sure that you fully understand your policy.

For full explanations of these items click here and read the article: