All about your insurance policy

You've fallen in love with a charming duplex, a downtown studio, or a lakeside home. You've done all the right things-negotiated the price, selected a mortgage, had the place inspected. But have you checked into the cost of home insurance?

• If you purchase a heritage house or an apartment above a bistro, for example, you'll pay more for insurance and you'll have fewer options. That's why it's best to ask about insurance before you make a decision to buy.
• Just moved in to your first apartment? You may be thinking, "Why bother with insurance. I've hardly got any furniture!" Well, home insurance covers more than just your possessions. It also covers your civil liability for damages you may directly or indirectly cause to a third party. Mishaps can be costly if you're not insured.
• Whether you're a tenant, a co-owner, or an owner, your home is one of your most important assets, if only for the peace of mind it provides. What better reason to protect it!
• Not sure you can afford insurance? Ask about the different types of policies available. Some provide minimal coverage while others offer more extensive protection. You can surely find one that's right for your budget.