Residential

Germania Mutual offers a wide range of residential coverage's to those that own a dwelling, personal property, watercraft or those requiring personal liability.

Residential insurance provides a service that protects you against loss or damage to your home, and property usually kept there, through such misfortunes as fire, windstorm or theft. It can also protect you from financial loss arising out of bodily injury to a third party and damage to a third party's property.

If you own personal property which would be expensive to replace, you need Residential Insurance. (You may live in a house, apartment, condominium, be at school or travelling). You can start with one individual item of value or a roomful of belongings which collectively are valuable. There is a Household Inventory Booklet available to assist persons in determining the value of insurance required.

There are policies to cover practically every situation. Whether you are a homeowner, condominium owner or a tenant, Germania Mutual offers a very attractive package customized to meet your individual needs.

"Homeowners Package" is designed for owner occupied dwellings. This policy protects your dwelling, possessions and personal liability. One premium is paid for the overall coverage. Additional coverage for cottages, boats, outboard motors, jewellery and other valuables may be added for an additional cost.

The first consideration in insuring your dwelling is to establish a proper replacement value. Our sales representatives can help you in establishing this value.

"Tenants Package", as it's name implies, is designed for people who live in rented premises. The coverage is similar to that of the Homeowners' package, with the exception that there is no coverage on the dwelling. It does however, contain tenant's legal liability insurance (protection against your responsibility for fire, explosion and smoke damage to the premises you actually occupy, if you are negligent).

"Condominium Package" is similar to a tenants package policy which covers furniture and other possessions. The package also provides improvements that the owner of the unit has made to his/her own unit to a maximum limit; assessments payable by unit owners which are made necessary by a direct loss to the collectively-owned condominium property to a maximum limit, and assessments payable by unit owners for liability of the condominium corporation, not otherwise insured, subject to a maximum limit.

The law requires the manager of a condominium corporation to purchase coverage for the actual buildings and owners of individual units should make sure that this has been done.

Not all residential insurance policies are identical. For competitive reasons, policy wordings vary.

If the use of your dwelling should change, i.e. rent out all or part of your dwelling or use part for commercial purposes, you must inform your company of such a change in status, as it could materially affect your home insurance coverage.

In the event of a vacant or unoccupied dwelling, your insurance company must be informed within 30 Days of the vacancy, and permission obtained to continue the insurance coverage.

"Personal Liability" insurance protects you against losses that may arise out of your legal responsibility for negligent or careless acts to a third party. Both you and the members of your immediate family are covered. Most homeowners, tenants and condominium owners packages include personal liability, at a specified limit, in the package premium.

Personal injury to yourself or others living in your home; except domestic employees, is not insured under this coverage.

The personal liability section of a residential policy also includes:

Voluntary Medical Payments - provides a policyholder with the opportunity of paying for medical expenses of an injured third party without the need of establishing legal responsibility for injury. These are commonly limited to a specified limit. No payment will be made to you or members of your family.

Voluntary Property Damage - pays for the cost of damage to the property of a third party, without the need for establishing legal responsibility for the damage, subject to a specified limit. Property rented by you is not included.

Any person who could be held responsible for an accident should have personal liability insurance.

If you are the head of a household, you, your spouse, and all relatives living in the same residence are protected.

Please contact a sales representative for more information on specific criteria, packages, coverage's and discounts available.