Home insurance: 5 endorsements to enhance your coverage

So, what is an endorsement? In the insurance industry, it refers to a clause that modifies an existing policy. An endorsement therefore allows the terms of the policy to be adjusted, making it an integral part of the policy. 

For the insured, who holds a home insurance or an auto insurance policy, an endorsement allows them to adjust their coverage according to their actual needs. Key point: an insurance policy includes basic coverage, but it can also be enhanced with endorsements! Here are a few valuable, sometimes overlooked endorsements that you can add to your home insurance policy right now.

1- Water inlet

Damage to the interior of your home due to a break in the main water inlet is typically covered by your home insurance policy. However, if the water inlet itself is damaged, excavation work is required outside to repair the pipe and damage to your property.

Having optional Water Inlet Breakage coverage is advantageous, as it covers the excavation and repair costs for your property, which are not covered by your basic home insurance policy. It’s a low-cost option compared to the expense of repairing water damage!

2- Water damage: above-ground water

This coverage protects you against water damage caused by sudden, accidental water leakage through the roof, doors, windows, etc. For example, if a violent storm occurs and water leaks through the roof, this endorsement would protect you. It also covers you in the event that ice and melting snow penetrate the building envelope.

Above-ground water damage poses a risk to the insured, especially due to extreme rainfall, winter thaws and strong winds that weaken building envelopes. The ensuing repairs can be costly: exterior cladding, insulation, roofing, interior walls and floors are often among the elements affected.

3- Water damage: ground water and sewers

This is probably one of the most important coverages to consider given climate change and the increasing frequency of extreme weather events in Quebec.  For just a few dollars a month, you can get the peace of mind you’re looking for!

This optional coverage specifically protects against sudden and accidental water damage resulting from sewer or septic tank backup, water infiltration through the foundation or a break or failure of your sump pump.

The Ground Water and Sewer Damage endorsement can be added for an additional premium. However, it has a coverage limit, meaning there’s a maximum amount that the insurer will agree to reimburse in the event of a claim.

4- Earthquake

At iA Auto and Home Insurance, your home insurance policy already includes coverage for fire, smoke or explosion resulting from an earthquake. However, this coverage does not include structural damage that may be caused to your home.

The additional Earthquake endorsement, on the other hand, covers damage directly caused by an earthquake, as well as damage resulting from it, such as the collapse of certain parts of the building.

Therefore, to be fully protected in the event of an earthquake, it is essential to add earthquake coverage to your policy. This is the only way to ensure that your home and its structural components will be covered if an earthquake occurs.

5- Legal assistance and insurance

Prysm General Insurance is a subsidiary of iA Auto and Home Insurance, a member of iA Financial Group.  It offers insurance and legal assistance, sold as a supplement to auto or home insurance.

Legal insurance typically allows you to hire the lawyer or notary of your choice to advise you, initiate legal proceedings or represent you in court.  As with any insurance, certain limits and exclusions apply, depending on the terms and conditions of the policy.

But be aware! As stated by the AMF, legal insurance should not be confused with legal assistance. As the name suggests, the latter is not insurance; rather, it is a telephone service that allows you to consult a lawyer or notary for specific legal information, without representation or legal proceedings.