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The importance of a home insurance policy

We all think we are the best, we have powers and, we will, one day, discover that we are super heroes (we simply didn’t have time so far as we were busy at work …)

If Superman and all his friends know how to fly, turn back the hands of time, put out a fire and all these kinds of things, we are just humans; which means: sorry but…we don’t have super powers!

When it comes to your house, it is better to have a home insurance, unless you want to live dangerously, or go bankrupt…

People often neglect home insurance, thinking that they don’t own expensive enough goods to get one. It’s a mistake as, in the case of a fire, you might have to reimburse your owner or your owner’s insurance company.

If, for example, you live in a five-apartments-building and that, you accidently set fire to your place, if the rest of the building bursts into flames, you will have to pay for the damage.

If, as in the example just given, each tenant’s furniture has a value of $15,000, you will have to pay $75, 000 for the furniture. Let’s say the rent was $850 for each apartment; then you will have to pay for the unpaid rents: $4250 (supposing it takes two months to rebuilt the building).

You will also have to pay for the building itself, let’s say it would cost around $600, 000.

The total is $679, 250; just because you thought you didn’t need a home insurance?…danger has a cost! And even though I might sound like your grandmother, grandma was right!

Think about it 😉

Photo credits: Wikipedia (A structure fire in Massueville, Canada)

About the Author:

Living in Montreal since 2005 after France and the United States, I want to share with you how much I love Canada and my advice to successfully immigrate to Canada!

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