Homeowner/Condo/TenantThe insurance policy and coverage information contained in this website is for information only. It is a general summary of the details in most of our policies. However, it is not intended to amend or replace any of the terms or conditions of your actual Insurance Policy.Who's Covered? Your GNK Insurance policy covers you, your spouse, your children and any relative living at your address. It also covers anyone in your care who is under 21 years of age.
Your policy also covers your dependants while they are living outside the home but are attending College or University.
In some circumstances, coverage extends to partners in common-law relationships and to children born of such relationships.
The rules vary from Insurance Company to Insurance Company, please consult with your GNK Insurance customer service representative for specifics.
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Who's Not Covered?
Your GNK Insurance coverage does not extend to people living in independent suites located in your home - even if these people are relatives. Tenants must purchase separate coverage.
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What's Covered?
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Buildings Your GNK Insurance policy covers the replacement cost of your Principal Residence (subject to the policy limits) including:
Personal Property
Your GNK Insurance policy covers the replacement cost of your Personal Belongings and the personal property of anyone covered by the terms of the policy (subject to the policy limits). This coverage includes protection against damage or loss due to any insured peril for items in your home or items temporarily located anywhere in the world.
The total amount of Personal Belongings coverage depends on the value of the overall policy and your personal needs. However, there are limits to this coverage for items such as jewellery, furs, coins, bicycles, antiques, collectible. These items can be insured for higher limits than those in the standard policy wording, you should discuss with your GNK Insurance customer service representative.
If you choose, the coverage also includes the personal property of others while it is stored on your property or if it has been borrowed by anyone covered by the terms of your policy.
Liability
Your GNK Insurance policy provides liability protection against lawsuits filed on behalf of someone who dies or is injured on your property.
Limits from $1,000,000 to $10,000,000 can be arranged. All coverage is subject to the deductibles and terms & conditions stated on your policy.
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What is Not Covered?
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Your GNK Insurance policy will protect you and your family under most circumstances. However, all insurance companies place some limits on basic coverage most notably damage caused by War or Insurrection. The basic policy does not include earthquake coverage - although you can purchase this protection. Your policy does not include protection against floods (surface water) although it does cover damage caused by sewer back-up, broken pipes or water mains. Your coverage does not extend to willful damage by anyone covered under the terms of your policy.
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Your Responsibilities as a Policyholder
Your GNK Insurance policy is a contract between you and an insurance company that protects you and your property against loss or damage caused by any number of perils. As a party to the contract, you have certain legal obligations.
- You must limit the risk of personal injury through regular maintenance of your property and elimination of hazardous conditions that may develop.
- You must limit the risk of fire damage or personal injury through the use of smoke detectors.
- You must do every thing reasonably expected to limit damage once it occurs. For example, you would be expected to turn off the water if a pipe burst or board up a door if it was broken by thieves.
- You must arrange regular care for your home if you are going on a prolonged vacation.
In summary, you should do everything possible to protect your property - limit and eliminate your exposures to loss "as if" you had no insurance at all. If these efforts fail then your insurance policy is there to help you through the subsequent loss.
For more information please contact your GNK Insurance Representative. Click Here.