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Protect the place you call home.

Home, condo and tenant policies protect different things. Start with how you live, then build coverage around the risks that matter.

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Choose the type of protection you need.

The policy structure changes depending on whether you own the house, own a condo unit or rent.

Homeowner

Coverage can protect the dwelling, personal property, liability and additional living expenses after an insured loss.

Condo

Coverage can protect your unit, belongings, improvements, personal liability and certain gaps left by the condominium corporation’s policy.

Tenant

Your landlord insures the building. Tenant insurance can protect your belongings, personal liability and additional living expenses.

Coverage basics worth understanding.

Not every policy includes the same protection or limits. These are common areas to review when comparing options.

Dwelling

Protection for the insured home itself, subject to the policy wording and limits.

Contents

Coverage for eligible personal belongings after an insured loss.

Personal Liability

Protection when you are legally responsible for certain injury or property damage claims.

Water Damage

Water-related coverage varies by insurer and may require specific endorsements.

Sewer Backup

Optional protection may be available for eligible damage caused by sewer backup.

Additional Living Expenses

Can help with eligible extra living costs when an insured loss makes the home temporarily unfit to live in.

Rebuild cost is not market value.

The amount required to reconstruct a home can be very different from what the property would sell for. Insurance is generally concerned with reconstruction cost rather than the real-estate listing price.

Why it matters

Construction costs, materials, labour, debris removal and local building requirements can all affect the amount needed to rebuild after a major insured loss.

Ready to review your home coverage?

Start a free, no-obligation quote or message Waqi Insures directly.

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BASEMENT WATER DAMAGE

Some scenarios are better left in the comics.

We hope you never need your insurance — but if you do, we’ll be ready.

Home insurance comic

Home insurance FAQs

Insurance terms can sound more complicated than they are. Here are the important ones in plain English.

What does home insurance usually protect?

Depending on the policy, home insurance can protect the building, your belongings, personal liability and additional living expenses after an insured loss.

What does personal liability mean?

It can protect you when you are legally responsible for accidental injury to another person or accidental damage to someone else’s property, subject to the policy.

What is replacement cost?

Replacement cost generally refers to the cost of replacing insured property with new property of similar kind and quality, subject to policy terms. It is different from market value.

Why is rebuild cost different from what my house is worth?

Insurance focuses on the cost to rebuild the structure after a covered loss. The market price of a home also includes factors such as land, neighbourhood and real-estate demand.

Does home insurance cover water damage?

Some water losses may be covered, while others may require optional coverage or may be excluded. Sewer backup, overland water and gradual leakage can be treated differently, so the exact wording matters.

What is sewer backup coverage?

It is optional protection offered by many insurers for certain damage caused by water or sewage backing up through drains, sewers or related systems, subject to the policy.

What is overland water coverage?

Where offered, this can cover certain fresh-water flooding events entering the home from the surface. Availability, definitions and limits vary by insurer.

Are my belongings covered away from home?

Many policies provide some protection for personal property temporarily away from the premises, but limits and exclusions can apply.

What are Additional Living Expenses?

If an insured loss makes your home unfit to live in, this coverage may help with eligible extra costs such as temporary accommodation, subject to limits.

Do I need to tell the insurer about a basement apartment or tenant?

Yes. Renting part of the home, sharing the property, renovations, vacancies and other material changes should be disclosed because they can affect eligibility and coverage.

Does home insurance cover a home-based business?

Standard home insurance may provide little or no protection for business-related property or liability. Tell the insurer about a home business so appropriate coverage can be considered.

What is the difference between homeowner, condo and tenant insurance?

Homeowner insurance can cover the building and contents; condo insurance focuses on your unit, contents, improvements and liability alongside the condo corporation’s policy; tenant insurance primarily protects your belongings, liability and eligible additional living expenses.