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The majority of Canadians are not properly insured during a move



17 August 2017 13:30

Photo : Freepik

Nearly 80 % of Canadians do not ensure properly their goods when they move, reveals a study conducted by Square One Insurance Services. And, while most providers of home insurance can be used to transfer a policy from one home to another, the personal effects are insured during the transport phase.

«If you move into a new house and do not transfer your home insurance policy current, you must ask your new provider if their insurance policy will cover your personal property during the transition,» says Daniel Mirkovic, president of Square One. It should not be assumed that this is automatic, otherwise, you may lose the coverage of your possessions during the move. Some providers cover the transition, but others do not. «

300 000 moves from one province to another

The study also reveals that over a million Canadians moved to the same province each year, while they are 300, 000 to move from one province to another. The largest portion of new residents for Ontario (27 %), Alberta (21 %) and British Columbia (20 %). Most common gestures are observed from Alberta to British Columbia (10 %) from Quebec to Ontario (7 %), and from Ontario to Alberta (6 %).

«We conducted this study for several reasons,» says Mr. Mirkovic. First of all, we’ve noticed that an increasing number of people moved between provinces. Secondly, we know that summer is the time most conducive to these movements. Finally, we thought, rightly, that most people do not know that their home insurance policies may cover their belongings during their transit. «

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