Homeowner Insurance

Our Homeowner Options

Your home is usually the single largest personal asset that you own, so it’s important to make sure you have the best possible coverage to protect it! And the better you understand homeowners insurance coverage, the better we’ll be able to find the best coverage to suit your needs.

Here are the two homeowners insurance coverage types we offer at SeaFirst. You may also be interested in reading about our Condominium insurance coverage.

Comprehensive Homeowners Coverage

SeaFirst has designed a comprehensive program that combines coverage for your home, personal belongings, and third-party liability for your actions. You can also customize the policy to provide coverage for special items of value such as jewellery, coin collections, silverware, and so much more!

Coverage included in the comprehensive homeowner’s policy:

  • Dwelling – Replacement Cost Coverage, which means we will rebuild your home, even if the cost exceeds the limit of insurance
  • Contents – protects your personal belongings in the home (and while temporarily removed from the home)
  • Outbuildings – protects detached structures on your property such as sheds, workshops, and garages
  • Additional Living Expenses – to pay for extra costs if you have to live somewhere else while your building is being repaired or rebuilt
  • Personal Liability – provides third-party liability coverage in the event that your actions cause property damage or bodily injury
  • Legal Expense – allows access to a legal information hotline relating to a personal legal problem
  • Water/Sewer back-up
  • Food spoilage – e.g. if your freezer is damaged in a fire
  • Fire department charges
  • Lock replacement
  • Property of a student living away from home during the school term

Homeowners Excellence Program

SeaFirst has designed a comprehensive homeowner’s excellence program for homes that are valued above $500,000. The policy includes all the coverages listed on the comprehensive homeowners coverage above, as well as some additional benefits.

Coverage included in the Homeowner’s Excellence Program:

  • A ‘cash payout’ option for your dwelling and/or contents. If you elect not to rebuild or repair, the basis of settlement will be the full value shown on the policy, without deduction for depreciation
  • Extended coverage for property temporarily removed from the home
  • An increased Personal Liability limit of $5,000,000
  • Increased ‘Special Limits’ for certain items such as food spoilage ($5,000), lock replacement ($20,000), jewellery ($15,000), art ($50,000), watercraft ($10,000), and coin collections ($10,000)

Optional Coverages Available:

  • Overland (fresh) water flooding
  • Earthquake coverage on the home and/or personal belongings
  • Bare Land Strata Property Loss Assessment coverage
  • Increased coverage on detached structures
  • Property used for a business

Discounts Available

  • There are a number of discounts available to help manage your premium and keep your homeowners insurance quote as low as possible:
  • Claims-free discount
  • Mature discount/senior discount
  • New-Home discount
  • Increased deductible discount
  • Reducing coverage on personal belongings discount
  • Monitored or local alarm discounts
  • Mortgage-free discount