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3 Mistakes You Should Avoid Making When Buying Condo Insurance

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AMC Insurance
3 Mistakes You Should Avoid Making When Buying Condo Insurance

When it comes to buying condo insurance in Burnaby, you need to find the one that fits your needs. It’s important to find the best fit so you can maximize it when the time comes that you need to use it. With that said, be sure to avoid making these crucial condo insurance buying mistakes:

  1. Choosing insurance based on cash value instead of replacement cost

Why is this important? In case you file a claim due to loss brought about by a disaster, the insurance company will only give you cash value based on how much you bought the appliance or furniture instead of how much it will cost to replace it now. Inflation will get to you.

  1. Not considering deductibles

People often only compare insurance providers based on how much the premium is. This is the wrong strategy. Rather than the premium, raise the deductible instead so that you have a lower premium.

  1. Not reading the policy carefully

Before you sign the agreement, make sure you carefully read the terms and conditions of the policy. The last thing you would want is to assume that your insurance will cover a specific loss and end up being disappointed when the time comes that you need to file a claim.

Since there are many providers of condo insurance in Burnaby, it’s important to choose the right provider. You can get the help of insurance brokers such as AMC Insurance to find the right condo insurance that you can rely on when the unthinkable happens.

Robert Cameron is the author of this article. For more details about Car insurance in New Westminster please visit our website: amcinsurance.ca

 

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