For most Canadians, their most valuable asset is their home. And yet too many have only a vague understanding of the insurance policy that covers their house and contents. Unfortunately, many find out too late — when they have an expensive claim denied — that their understanding of their policy is based more on misconceptions than on fact. The P&C experts from Desjardins Insurance would like to help you by clarifying some of the common misconceptions about property insurance.



Misconception 1 - Your home insurance will cover any type of major loss.

The typical home insurance policy will cover a fire loss, as well as damage caused by lightning, windstorms, hailstorms and even tornados. However, damage from earthquakes is not covered by standard homeowners' insurance. You can purchase special coverage, though the cost can vary considerably depending on the risk in the area where you live. Not surprisingly, earthquake coverage is more expensive in Vancouver than in Winnipeg. Standard homeowners' policies in Canada also exclude flood damage. However, policies generally cover other kinds of water damage, for example from a broken water main on the street or a burst pipe in a house.


Misconception 2 – I will receive full market value for my house if it burns to the ground.

The value of a home insurance policy is usually based on the cost to rebuild the house, not to sell it on the marketplace. Replacement costs will include the material (lumber, roofing shingles, siding material, carpet, drywall, etc), the labor costs, architectural services and so on. It is important if you do any renovations or additions to your home, that you let your insurance company know, as this could change the replacement cost of your home.


Misconception 3 – I will automatically get full replacement value for any personal belongings that are damaged.

No, depreciation would be factored in, which could reduce the value considerably unless you had optional replacement-cost coverage. In that case, you would be able to replace the item with a new one with the same or similar features. In addition, valuable items such as jewelry or artwork are usually subject to a payment cap, unless additional coverage is purchased.


Misconception 4 – Renters who don't own any fancy stuff don't need insurance.

Not true. You'd be surprised how much it costs to replace even basic contents, such as furniture, kitchen supplies, clothing, and electronics like computers, TVs and cell phones. Plus, you need to ask yourself if you could afford to rent a hotel for a few weeks if your apartment needed major repairs. If not, then tenant insurance is a must. This insurance protects your property and also covers you in case you accidentally cause damage to the property of others. It's simple, affordable and definitely necessary.


If you are Selling or Buying a Home in Calgary Contact Lawrence today!




Chaparral Real Estate News and Community Update

Are you looking for a new home in Caparral, Calgary?  I have all of the new listings available on my website and they are easily accesible anytime, all you need to do is click here to view them all.  There are some great properties for sale in the Neighborhood!  There are 16 new listings that are availble to look at if you are wanting to buy in Chaparral. Don't wait too long this is a really hot neighborhood and homes are selling fast.  


Information about Chaparral

Lake Chaparral is the fifth lake community developed by Genstar.  The lake and the adjoining park are a prestigious amentity built for the use and enjoyment of the residents of Lake Chaparral.  

Chaparral Stampede Breakfast June 21st 9-1pm


chaparral stampede

The 6th  Annual Stampede Kickoff is coming on Saturday June 21, 2014  from 9-1pm @ Chaparral Lakehouse facility (225 Chaparral Drive SE)

Pancake breakfast will be served for the first 1500 people.  Join us in the great entertainment, fun and food.   Please bring a food donation for the Food Bank.

Open to all Lake Chaparral Residents and Chaparral Community Association members.   Remember to show your card for entry.    

If you don't have a CCA card yet, no worries.  Come by and purchase one for $20/year per household and it gets you in to all the events through the year plus helps support your local group of volunteer CA that work on many initiatives to make your community better. 




Contact Lawrence Cuming for all of  you Calgary Real Estate Need!  

"The Realtor Friends Recommend to Friends!"



What are young buyers looking for when buying a new home?

Generation Y (or the under 35 Crowd) are the second largest group of home buyers in the market right now and they have a very particular criteria when looking for a home.  Below are some of the most important thnings that Generation Y are looking for when buying a home.

A Modern Kitchen and Bathroom

Generation Y buyers often do not have a lot of disposable income at the ready to pay for renovations, at the same time they also tend to want a more modern look to their homes and the bathrooms and especially the kitchen are selling features of a home so it’s important that they have functional and inviting bathroom and kitchen spaces from the very start.  If you have a modern kitchen and bathroom and the work is already done for them, then your house will sell faster than a home they have to put extra money into.  

An open floor plan

Entertaining in an open and inviting spaec is more important to Generation Y than having a formal Dining room, in fact Generation Y prefer open spaces with no separation between kitchen, living room, and dining room.  An open concept makes it easier to entertain everyone at once.  It can also make homes with smaller square footage appear larger.  If you have a seperation between rooms it would benifit you to open that space up.  Just by removing one wall can make your home seem larger, open and more inviting.  

An officeA home office in a lot of cases are very desirable as more employers are offering work-from-home options, and there are also plenty of freelancers and telecommuters among Generation Y.  An office in the home for work could be essentialand necessary for Generation Y buyers.  Even if you don't have an office in your home staging a bedroom as an office is a great solution.

Friendly location
Schools and a friendly neighborhood are key when Generation Y look for a home.  Green spaces, walking trails and bike paths are just some of the important factors when Generation Y looks for a home. With gas prices on the rise, some Generation Y prefer walking, biking, or using public transit for their commutes.  What is the walk score in your neighborhhod?  If you dont know you can check it out here! 

Energy savings - Eco Friendly
Generation Y are often more cognizent of energy efficiant and eco-friendly homes. This includes energy-efficient appliances and windows, and good quality insulation.  These can make a huge difference when it is time to sell.  An easy way to make your home energy efficiant would be buying new energy efficiant appliances which can help your home sell faster and for more money. 








Some of these changes can be easily completed some a bit more complex.  Decide how much money you want to spend when getting your house ready to sell, but remember if you put money into the right renovations you can recover your expenses and still sell for more than what you could have previously.


If you need advice on what to you need to do to sell your home for top dollar contact Lawrence today!  

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