What information is needed for a home or tenant insurance quote?

Shopping for and purchasing homeowners insurance is possibly the most important thing a person can do for their home. Having peace of mind in knowing that you’d be covered if anything were to happen means you have one less thing to worry about in your busy life. It’s always wise to ensure that your belongings are covered in the event of unforeseen accidents, fires, or weather-related events. 

For those who rent and are not homeowners the question often arises, “Why do I need tenant insurance?”  Whether you own the home or simply rent it, the answer is the same: to ensure you are protected in the event your property and belongings are lost or damaged. Getting a home insurance quote has never been easier. Here's the information an insurance company typically requires in order to provide you with an insurance quote for your home.

What do I need to provide?

The insurance company will need some basic information concerning the structure and build of the home, who will be living there, and what sort of contents are in the home that needs to be insured. Here’s the information the company will need to provide a quote: 

Personal details of residents and owners

The first thing an insurance company would need to know is who will be occupying the home. Anyone who is an owner, tenant or permanently living in the home should be listed on the application.

Details of the property

You can expect to be asked about various details about the home itself, including:

  • The year of construction
  • The type of home such as detached, semi-detached, condo or apartment building
  • The construction material of the home
  • Plumbing and electrical information including material and age of installation
  • The age and material of the roof if not a condo or apartment building

The reason these details are important is that they help the insurance company understand what the cost will be to rebuild your home in the event of a total or partial loss. For example, if a hailstorm happens and your roof is damaged, tiles may be more expensive to replace than asphalt shingles. These also assist the insurance company in assessing risk factors for your home.  

Contents of the home and its value 

It's not necessary to list every single item in the home, but some general categories and approximate values are very helpful. They can include:

  • High-value items, such as jewellery or electronics
  • Large and expensive pieces of furniture
  • Collector’s items or memorabilia that is of significant value, such as baseball cards or art

Even if you have an existing homeowners insurance policy, it's important to update your insurance company regarding any large purchases that may have significant value if they are to be kept in your home.

Coverages

Homeowner or tenant insurance covers things such as your building, contents and liability. 

  • Building coverage (not applicable to tenants) - The cost to rebuild the house in the event of a total loss
  • Content coverage - The total value of contents in your home such as your furniture, jewellery, collectibles etc.
  • Liability coverage - Covers you for injury to others or damage to someone else’s property as a result of an accident or negligence 

Optional coverages

There are optional add-on coverages that can be added to the standard homeowners and tenant’s policy for outside-the-box scenarios. Some examples of optional coverages may include:

  • Sewer backup coverage
  • Earthquake coverage
  • Identity theft
  • Disappearing deductible
  • Personal property claim protector
  • Service line coverage (not applicable to tenants)

Now that homeowner and tenant insurance has been discussed, find out what information is needed for an auto insurance quote .

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