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Things to Know About Homeowner Insurance

Are you a first-time home buyer? Or just thinking ahead for the future? Home Insurance is critical and is vital as it secures your home and assets against any losses or damages. In a way, it acts as a financial safety net and may also help you cover additional living expenses if you're temporarily unable to live in your home. If you are considering buying one any time soon, now is the ideal time for you to learn about home insurance. In case you are not, it is far better to learn about this prior so you will be prepared when you buy a home later on. In this article, we will be discussing some fundamental points to note and help assist you in starting your homeowner ventures.

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.


Shop Early for Coverage

Most often, homeowners insurance is purchased before closing on the home. By securing the coverage you need before you even move into your new home, you safeguard your purchase from any disasters. Do some research on various insurance policy options as they may offer different levels of coverage. Whenever you have discovered an approach that is best for you, make sure that it meets the necessities of your home insurance company.


What Will be Covered

Insurance simply covers the losses detailed in your agreement. It is essential for you to read and discuss with your insurance representative regarding what your insurance policy covers and does not. Insurance will not pay for the cost of every issue that you might experience, nor is it intended to cover consistent home maintenance. Coverage is there to assist you with adapting to the financial outcomes of unfortunate events that are unexpected.

In case there are any exclusions that you would like to have on your insurance policy, check whether your insurance representative will add on extra inclusion. A number of insurance, like flood insurance, can be bought individually. To explain a situation where your property may not be insurable, take this example where someone lives on the border of a river, flooding of your property in the spring is not abrupt or unintentional; it is inevitable and, consequently, possibly uninsurable. You should do some research and learn about the best insurance options for your home.


Your Insurance Policy Was Meant for Major Losses

Long-time homeowners have a bit more experience in filing claims when problems arise. For first-time homeowners, they may not have much knowledge on it and might make a mistake by deciding to file a minor insurance claim. On the off chance that you have a sufficient amount of personal savings to take care of the expense of the fixes using cash on hand, consider the amount it could save you to simply pay for the harm yourself versus filing a claim. Use your insurance to cover the cost of major damages and repairs.

For more information, read up on Avalon Suites’ guide on things you should consider when looking for insurance housing.


Avalon Suites Yorkville

Avalon premium luxury suites offer a fully equipped kitchen, filled with cooking utensils; pots, pans, boards, dishes, cups, cutlery, and equipment such as a fridge, freezer, microwave, and dishwasher all in one suite. Even more, each Avalon Suites has an in-suite washer and dryer, allowing you to feel just at home being able to do your own laundry without the hassle of housekeeping and additional services. Every suite also has access to internet and wife services, smart televisions for your cable, Netflix, Prime, or YouTube viewing, complimentary coffee, tea, and bathroom necessities.

Additionally, Avalon Suites Yorkville has an in-building fitness centre and gym, and conference room safely available to be booked, alongside 24/7 concierge services. Located in the heart of Yorkville intersecting Yorkville Avenue and Avenue Road, not only will you get sweeping views of the city, however, you are located minutes to premium dining experiences, shopping departments, tourist destinations, and a Wholefoods supermarket for your in-suite cooking needs.

Check out our blog for even more information.

Contact us at 416.731.1372 to learn more about our suites and to book!

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