Buying a home

Buying a home will probably be the biggest investment of your life and one of your most valuable assets. Whether you own a house, condo or mobile home, AMA provides insurance to meet your individual needs.

Homeowner insurance

So much more than just plywood and bricks, your home is your sanctuary. It’s where you spend time with family and friends, celebrate holidays and make memories. Homeowner insurance protects your valuables by providing coverage for your home, garage or shed, and your personal belongings. It may also provide financial protection in the event you unintentionally injure someone or damage someone else’s property.

No one wants to think about the possibility of their home being destroyed by fire or targeted by thieves or vandals. Give yourself peace of mind with AMA homeowner insurance and rest easy, knowing your finances won’t suffer if unexpected events like these happen.

Get an online home insurance quote today or contact us for more information.

Condo insurance

As a condo owner, you find yourself in a unique situation because while you own the interior of your unit, you do not own the exterior. You require a policy that provides coverage for your personal possessions as well as any improvements or renovations you’ve made to the unit. Your condo association or corporation is responsible for securing insurance coverage for the exterior of the building.

But before you buy condo insurance, be sure to do some research. Be aware of what’s included in your condo association’s insurance policy because your individual condo insurance may cover you in the event the association has no insurance or inadequate insurance.

Condo insurance includes two types of coverage that are unique to condo insurance policies: Loss Assessment and Condominium Contingent. If there is a loss or damage to collectively owned condo property and the condo association’s insurance is insufficient to cover that damage, Loss Assessment coverage would cover your share of the loss, up to a specific limit based on the named perils listed in your coverage. If there is a loss or damage to your individual unit and the association’s insurance is insufficient, Condominium Contingent coverage will address this difference and cover your share of the loss.

Condo insurance will also protect your personal belongings and improvements to your unit’s interior against fire, theft and vandalism. It may also provide financial protection in case you unintentionally injure someone or damage someone’s property.

For more information on condo insurance, learn about the difference between condo and renters insurance.

Condo owners have unique needs that can only be met by a policy that is customized for condo living. Get an online condo insurance quote, or contact us for more information.

Mobile home insurance

As a mobile home owner, you face the risks of fire, theft and extreme weather every day. Protect your mobile home, garage or shed, and your personal belongings with mobile home insurance from AMA. This insurance may also provide financial protection if you unintentionally injure someone or damage someone’s property. Contact us today for more information.

Extra protection

Owning a home is a big responsibility and it can bring added risks, especially if your home has extra features like a pool or trampoline. While these additions can be fun to use and add value to your home, they also increase your chances of being held liable if someone is unintentionally hurt on your property. Similarly, if you have a pet, your chances of being held accountable for someone else’s injuries may be increased. 

Personal umbrella liability insurance can help protect you and your family by giving you an extra layer of protection in addition to the liability coverage you have through your home insurance policy. And if you were to find yourself in the middle of a lawsuit, with liability insurance, your defence costs are covered right from the start on claims involving personal injury. Contact us to find out if personal umbrella liability insurance is right for you.

Owning a home is also a big financial responsibility. Protect your loved ones from the burden of a hefty mortgage with life insurance. Not only will life insurance provide income for your family in the case of an untimely death, but life insurance can also ensure any mortgages and other outstanding debts are paid.

You may also want to consider critical illness insurance, which is designed to protect you from the financial impact of a life-altering illness. It provides you with a tax-free, lump-sum amount to use how you see fit as you work towards recovery. This money can be used to pay household bills, make mortgage payments and buy groceries. It can also help renovate a home to accommodate special needs, such as wheelchair accessibility.

Another option you may want to consider is disability insurance, which can replace a portion of your income if you are unable to work because of an injury.

An AMA life advisor can help you decide what’s right for you and your family. Contact one today!