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Frequently Asked Questions About Homeowners Insurance

Updated: Feb 6, 2022

A home is a place where you build a foundation and memories with your family. It is an investment you want to protect and cherish in spite of everything. These and many more reasons are contingent to improve and keep up with your family's well being consistently. That is when purchasing property holder's protection happens.The following questions and answers cover most of the basics, but it is important that you do yearly check-ups with your insurance representative to review your policy and coverage limits.

You can learn more through Avalon Suites Yorkville’s blogs: Overview of Home Insurance Part 1 and Part 2, and 4 Things You Need to Know About Insurance Relocation.


Am I Required to Have Homeowners Insurance?

Indeed, protection is your assurance against the numerous property and liabilities that you may face as a homeowner. It is additionally beneficial to look into insurance in case you are currently developing your home and in any event, leasing your home to another person or have as of now possessed a home. Cases like major damages of your home or mishaps that occurred in your home that might prompt a claim from a harmed visitor are adequate motivations to obtain homeowner’s insurance for you to remain protected.


What does a Homeowner’s Insurance Policy Cover?

Most standard homeowners insurance policies offer coverage for damage caused by theft, vandalism, smoke, and other damages to property. Additionally, natural disasters such as fires, lightning strikes, windstorms, volcanic eruption, and hail. However, you must note that not all natural disasters are covered by homeowners insurance. For example, damage caused by earthquakes and floods are not typically covered by homeowners insurance.


Can I Cancel My Insurance?

Regardless of whether you are willing to take on the risk yourself, you probably will not have the option to cancel your home protection. There is one case that makes sense to cancel your home insurance, and that is when you have sold your home. It is likely to be a condition of the sale that you will maintain insurance until the date the new owners take possession. It is best to hold off on cancelling your policy until after sale closes so you will not be left uninsured if the arrangement falls through at the last minute. Rather than cancelling your home insurance, you might choose to change your coverage to reduce your premium.


Short-Term Rentals

If you are planning to stay with us at Avalon Suites Toronto, we are at 155 Yorkville Avenue. Each of our suites comes with a fully furnished kitchen with kitchen appliances such as a microwave, stovetop, fridge, freezer, kettle, toaster, and Nespresso machine. Suites also have an in-suite washer and dryer, a Smart TV, and complimentary Wi-Fi, access to a gym and fitness Centre, conference room, and concierge service.

Avalon Suites Yorkville also provides more information on homeowners insurance in our blog Things to Know About Homeowner Insurance. For more information on housing options, you can visit the Avalon Suites Yorkville Blog: Temporary Insurance Housing Options Until My House is Ready.


Avalon Suites Yorkville

More than a hotel room, Avalon Suites have more than 2x the space and are fully furnished. In Avalon Suites, you will be able to find amenities not available in a hotel room. Such as a cooking stovetop, fridge and freezer, dishwasher, toaster, Nespresso machine, and microwave. Need to do laundry? We also have an in-suite 2-in-1 washer and dryer for your convenience. Avalon Suites offers more than just a fully stocked kitchen, staying with us includes access to a fitness centre and gym, concierge service, and meeting facilities. Suites also have sweeping views of city views of Yorkville, Toronto, modern furniture, and friendly working spaces. Including complimentary wi-fi, smart tv with access to cable, Netflix, YouTube, Prime, and more.

Located within walking distance to Wholefoods, Avalon Suites is perfect for your employee corporate relocation. You can make grocery shopping trips and cook up meals in your kitchen just like if you were at home. If you are not in the mood to cook, Yorkville is surrounded by several takeout and dine-in restaurants, check out our blog Best Restaurants for Takeout Near our Short-term Rentals for more. And looking for an experience while you are in Toronto and want to explore? Look at our blog Things to do Around Bloor-Yorkville for local tourist destinations to visit on your days off.

To learn more, visit us on our website or call us at 416.731.1372.

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