- Claims history : A past marked by several claims.
- Non-payment of premiums A contract cancelled for non-payment.
- Bad credit history : A low credit score can be a factor.
- Type of property at risk Old houses, non-conforming constructions.
- Unusual occupation : Unoccupied or temporarily rented dwellings.
- Higher premiums : The cost is generally higher to compensate for the risk.
- Stricter conditions Certain exclusions or limitations may apply.
- Request for additional warranties : Some insurers require improvements (alarm, roof renovation, annual payment instead of monthly).
A must-see!
To limit the cost of your insurance, you can : Increase your deductible. Combine your home and car insurance. Use a broker to negotiate a lower premium. Improve your home's security (alarm, cameras, reinforced doors).
Although 2nd chance home insurance is often more expensive because of the risk perceived by insurers, there are several ways to obtain a discount and reduce your insurance premium. Here are a few tips to help you save:
- 1. Multi-Police discount: If you also have a car insurance, business insurance or other insurance products, group them with the same insurer. Several companies offer 5 % to 15 % for customers who combine several insurances.
- Increase Your Franchise: By accepting a higher deductible (the amount you pay before the insurance covers the rest), you reduce the risk for the insurer and thus obtain a lower premium. Changing your deductible from 500 $ to 1,000 $ can reduce your premium from 10 % to 20 %.
- Claim-free for a few years: Even with a high-risk file, each claim-free year can give you a progressive discount. Some companies offer up to 20 % reduction after 3 to 5 years without a claim.
L'2nd chance home insurance is an ideal solution for people who have been rejected by traditional insurers. Although premiums may be higher, this option offers several advantages benefits which allow you to obtain coverage adapted to your situation.
- Access to Insurance Despite a Difficult History: One of the main advantages of 2nd chance home insurance is that it allows you to be covered even after a refusal. Whether it's because of an irregular payment history, frequent claims or a file deemed to be at risk, this insurance gives you the opportunity to get the protection you need.
Essential Protection for Your Home and Property
Like all home insurance, it can cover the following, depending on the insurer property and home damageincluding :
✔ Fires
✔ Water damage
✔ Theft and vandalism
✔ Civil liability (protection against legal action if you cause damage to others)
Even if your profile is considered risky, this insurance will help you avoid major financial losses in the event of a claim.
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