HomeMy WebLinkAboutThe Lucknow Sentinel, 2016-03-09, Page 66 Lucknow Sentinel • Wednesday, March 9, 2016
Wednesday, March 9, 2016 • Lucknow Sentinel 7
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Serving Kincardine, Walkerton, Hanover & surrounding area
Cell: 519-901-0505
Phone: 1-844-215-9779 x 8977
Mitchell Twolan,
Broker of Record
Lake Range Realty Ltd. Brokerage
3430 Concession 2, Point Clark
R.R.1 Kincardine, Ontario N2Z 2X3
Office: 519-395-3959
Toll Free: 1-866-495-3959
Direct Line: 519-955-0664
www. lakerangerealty. ca
Certified Home Inspector
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Est.
1931
MCDONAGH
INSURANCE
BROKERS LTD.
LUCKNOW • WINGHAM • TEESWATER
Lucknow
573 Campbell St.
519-528-3423
Wingham
182 Josephine St.
519-357-2636
Teeswater
2 Clinton St. N
519-392-6200 F
A step-by-step guide
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• Get a pre -approved mortgage. 1r7
Begin your search for the home of your dreams
and start visiting. Your real estate agent will
help set that up for you.
Have the home inspected by a professional
home inspector.
Buy home insurance.
Make an offer to purchase when you find
the home you want to buy and establish any
purchase conditions.
Laschuk & Farr
3 rristers & 5otiritnrs
James L. Laschuk, B.Com., LL.B.
Dennis Laschuk, B.A. (Hons), LL.B.
General Practice Including:
• REAL ESTATE & MORTGAGES
• CORPORATE & BUSINESS LAW
• WILLS & ESTATES
Evenings & Weekends by Appointment
519-396-3307
FAX: 519-396-2137
P.O. BOX 69 • 282 DURHAM STREET, KINCARDINE, ONT. N2Z 2Y6
What Insurance Companies Look For When Insuring Your Home
Before an insurance company can arrive at an
appropriate premium, it must first assess the
likelihood or risk that you will submit a
claim. For the most part, the lower the risk e.g.,
a well-maintained home with updated wiring and
plumbing the lower the insurance premium.
Wiring: Some wiring (e.g., knob -and -tube,
aluminum) can increase the chance of a fire,
especially if the wiring has deteriorated or been
damaged during renovations. Some insurance
companies want a guarantee that a home does not
have this wiring, some may give you time to have it
removed, while others might request an inspection
to ensure its safety.
Galvanized/lead pipes: Galvanized or lead piping
usually means that the plumbing is older, and
older plumbing is more susceptible to cracks,
leaks and other problems. Insurance companies
generally prefer homes where the plumbing has
been upgraded to copper or plastic.
Electrical service: It is preferable to have breakers
instead of fuses, and 100 -amp service at a minimum.
Fuses and lower electrical service can increase
chances of a fire.
Heat source: Oil -heated homes can present a
costly environmental hazard, so your insurance
representative will ask for many details about
the age and condition of your tank. Insurance
companies tend to prefer forced -air gas furnaces
or electric heat.
Wood stoves: These are a common source of house
fires and carbon -monoxide poisoning, particularly
if they are not properly installed and maintained.
Insurance companies may want to inspect such
installations. Consult your insurance representative
before buying or renting a home with a wood -
burning stove or installing one.
Age of roof: Companies generally prefer it if your
roof has been updated within the last 20 years.
Some policies will pay only depreciated values, as
low as 25%, for damaged roofs near the end of
their designated service life.
Other uses of your home: Companies will want to
know if you have built or are planning to build a
rental apartment into your home, begin operating
a business there or make any other significant
alterations to the structure or the way it's used.
For More Information, Contact Your Local
Insurance Brokerage, or visit Insurance Bureau of
Canada www.ibc.ca