Quote:
Originally Posted by calgarygeologist
If you have a mortgage on this property you will need insurance. Your lender will require it.
It should be easy to acquire from most insurance companies. I have a policy with TD Meloche Monnex and had no problem getting coverage without having any other home owner policies. As others mentioned, it is cheap stuff. I pay $20-something per month.
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Thanks.
Though as I have been calling around, "no problem getting coverage" is not exactly my experience. I have called 4 brokerages now and have been met by "Hmmm, well....ummm, it would be much easier to just convert your current policy, we don't really do that."
Only one brokerage has taken my info to Wawanesa for a quote.
We'll see what they come back with.
In most cases, those that have been helpful have said that it would be cheaper to take out the principle policy, be it tenants insurance or whatever, rather than the standalone. But if we're talking the difference of a few dollars a month I would rather just do the standalone now and then streamline the policies in a year or so when things are a little more clear on the whole living situation thing.
Maybe my ignorance is showing, but that seems easier to me.