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The Difference Between Renting and Owning

Buying a house is a great opportunity for you to brush up on the many legal requirements involved in becoming a homeowner.

The Scene

For Luke and Susan, making the transition from a two-room, downtown apartment to a single-family dwelling on the shores of the St. Lawrence went without a hitch.

Homeowner Responsibilities

Homeowners are responsible for insuring their property as well as any outbuildings, including:

  • storage sheds
  • garages

The Problem

It was difficult to imagine how a structure like a pergola or gazebo could possibly lead to an insurance claim.

The Facts

The only good thing to come from a carpenter’s visit was a chance for Luke and Susan to find out more about their home insurance liability. After falling over an improperly anchored post, the carpenter missed several days of work and demanded that Luke and Susan compensate him for his lost earnings.

Upon checking with their insurer, the couple learned that the claim was covered under the liability section of their homeowner’s insurance. As a result, Luke and Susan didn’t have to pay for the damages caused by the unfortunate accident.

Good Advice

Making the move from renting to owning your own home can be exhilarating, but it brings additional responsibilities, too. That’s why our licensed insurance professionals are trained to answer your questions and offer a wide range of products and services to ensure all of your home insurance needs are met.

For more information or to receive a home insurance quote, contact us.


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