Majority of Ontarian Homeowners don’t think about insurance before they renovate
*TD Insurance survey shows Ontario homeowners don’t have all the facts on home renovations
TORONTO, April 29, 2013 /CNW/ – You have hired a contractor, approved the plans and ordered new appliances – but are you really ‘reno ready’? Research from TD Insurance has found the majority of Ontario homeowners are not considering the insurance implications of their renovations: only 6% checked their policy to ensure they were covered during their latest renovation and just 14% asked their insurer if their policy needed an update following their upgrades.
“Whether you’re installing water-efficient plumbing or simply new cabinetry, before you pick up a hammer or drill, it’s important to understand and learn more about the insurance implications of upgrading your home,” says Dave Minor, a vice president at TD Insurance. “For example, while being handy around the home is convenient for upgrades such as painting or installing crown molding, more challenging projects like tackling the electrical work yourself could actually invalidate your insurance policy. Speaking with your insurance provider can be a quick way to help clarify the unknown.”
About TD Insurance: TD Insurance offers a wide range of products to help protect clients from the ‘accidents of life’ including credit protection, auto, home, health, life, and travel insurance. With more than 3 million clients, TD Insurance authorized products and services are available through a network of more than 1,150 TD Canada Trust branches, the Internet and telephone. For more information, visit www.tdinsurance.com or visit the TD Insurance Learning Centre.
Stay tuned for three common home insurance myth busters … Coming Soon!
*About the TD Insurance Survey: TD Insurance commissioned Environics Research Group to conduct an online custom survey of 2,748 Canadians aged 18 and older, including 654 homeowners in Ontario who have insurance. Responses were collected from February 7 to 18, 2013.
Shared via trusted colleague & mobile mortgage specialist: Ramy Ibrahim | Manager | TD Canada Trust | 416.997.3279 | email@example.com