Broad home Insurance

What is Broad Form Property Coverage?

Well, life has certainly changed, hasn’t it? We’ve all found ourselves spending more time at home and buying the things we need from within them. Harvard Western Insurance understands and that’s why we provide you with an easy solution to get your home insurance online. Our system provides more than just a home insurance online quote. It is easy, user-friendly, and allows you to compare products from competitors and buy your insurance, all from the comfort of your home 24/7.

Harvard Western Insurance is your Regina home insurance broker. Although we provide you with the ease of purchasing your policy from the comfort of your home, we have friendly local advisors ready to assist you with any of your questions. 

One question that we often get is: what is the difference between broad form property insurance coverage and comprehensive insurance coverage?.

Simply put, a broad form insurance policy provides you with comprehensive perils on the dwelling & outbuildings and named perils on the belongings. A comprehensive policy provides you with comprehensive perils on the dwelling, outbuildings, and belongings. Now that won’t help you much unless you understand what comprehensive perils and named perils are. 

Named Perils vs Comprehensive Perils

Perils describe the event which contributes to the loss or damage to the property.

Comprehensive perils mean just what the name implies, it’s comprehensive. It means everything is covered. Comprehensive coverage describes what is excluded, rather than naming what is covered. 

This differs from a named perils policy, which names the perils that are covered.

Now keep in mind there are certain common types of property and causes of loss not covered under both coverages. Examples of those include loss or damage caused by settling, expansion, earth movement, faulty design, and workmanship. Loss or damage caused by these is not considered a loss by a sudden or unexpected event, which is covered.

Named Perils

The named perils to which your belongings are covered under a broad form property insurance policy are: 

  • Fire or lightning 
  • Explosion or implosion 
  • Smoke means sudden and unusual failure of a cooking or heating unit on the premises and includes things such as a furnace stove or fireplace 
  • Falling objects; an example of this is a large light fixture that detaches accidentally and suddenly from the ceiling causing damage to the table, chairs, and flooring beneath it 
  • Impact by aircraft, spacecraft, or land vehicle 
  • Riot, vandalism, or malicious acts. However, loss caused by attempted theft, vacant or under construction dwelling, damage caused by you or anyone living in your household, or caused by tenants or their guests renting any part of your property is not covered
  • Water escapes and ruptures. If you’re away from your premises for more than 10 consecutive days during the normal heating season, you must either:
    a) shut off the water supply and drain all pipes, fixtures, and appliances
    b) arrange to have a reliable person check your heating every day
    c) have your dwelling electronically monitored 24 hours a day by a company that monitors and responds to a low-temperature signal 

If your dwelling becomes vacant at any period for any length of time, contact your broker to discuss strategies on how to minimize risk and to ensure that you are complying with the conditions of your insurance policy. 

You can extend the name perils policy to include glass breakage, theft including damage caused by attempted theft, and transportation if the transporting vehicle is in an accident causing damage to your belongings. So you do have options to make the policy suit your own needs.

Comprehensive Perils

Broad form property cover provides comprehensive perils on your dwelling and outbuildings. As noted earlier, comprehensive perils are defined by their exclusions. An exclusion refers to hazards, circumstances, or property that is not covered by the policy. Here are the exclusions under a comprehensive policy for which you will not have coverage under a broad form property insurance policy:

  • Seepage of groundwater that exerts pressure, seeps, or leaks through any opening are not insurable. Therefore, it’s important to keep eavestroughs clear of debris, downspouts directed away, and grading sloping away from the dwelling or outbuilding. These are simple strategies one can take to combat future seepage potential. There is an exception to this exclusion, if the damage was caused by a sudden and accidental event such as escape of water from a water main, fire hydrant, or swimming pool – there is coverage.
  • Damage caused by flood, surface water, overflow of streams or bodies of water, waterborne ice, whether driven by wind or not. Sudden and accidental escape of water is covered. Water protection coverage can be added to your insurance policy that will provide coverage for flood, surface water, the sudden and accidental entrance of groundwater, and sewer backup.
  • Water damage is not covered unless an opening was created suddenly and accidentally through which the water enters. For example, a windstorm breaking a window and allowing driving rain to enter would be covered by this sudden and accidental event.
  • Rupture caused by freezing of hot tubs, swimming pools, or plumbing fixtures, not any heated building during the normal heating season is also excluded. 
  • If you are away from your premises more than 10 consecutive days during the normal heating season, damage caused by freezing and the resulting water escape from plumbing, heating, fire sprinkler, air conditioning systems, or appliances is not covered. So again, make sure someone is checking on your property.
  • If your dwelling is vacant more than 30 days or under construction, waterscape along with accidental bursting, tearing, cracking, or bulging due to pressure in a plumbing or similar fixture of any kind is not covered.
  • Damage caused by dampness of atmosphere, temperature extremes, condensation, rot, mold inherent vice is excluded. Continuously repeated leakage of water from a plumbing or similar fixture is also excluded. Losses caused by these types of conditions typically cause damage over long periods of time and as such cannot be considered sudden and accidental.
  • Mechanical breakdown isn’t covered, but this coverage can be purchased through optional home systems protection coverage.
  • Theft or attempted theft by renters, anyone living in your household, or while your dwelling is under construction is excluded.
  • Wear and tear, rust, corrosion, or deterioration are not covered.
  • Vermin such as rodents, insects, and domesticated animals are excluded.
  • Marring or scratching of any property or breakage of fragile or brittle articles is not covered.
  • Glass, while your dwelling is under construction, is excluded.
  • Retaining walls not constituting part of the building are not covered.
  • Smoke from agricultural industrial operations is excluded from coverage.
  • Sporting equipment due to the use of it; and
  • Contact lenses unless caused by a named peril are excluded from coverage.

Whew, that’s a lot of information! We hope you found it useful. If you have any questions about coverage, exclusions, or just want to talk to a human, we’re happy to help! Get a hold of us online, by phone, or say hello in person to gain a better understanding of your property coverage needs.