Westworld Alberta
Issue link: http://westworldmagazine.ama.ab.ca/i/508029
noah fallis S U M M E R 2 0 1 5 | W E S T W O R L D A L B E R T A 41 to an insurance representative to make sure you're covered for any materials added during construc- tion, as well as construction-related fire and liabil- ity, which protects you if anything should go wrong during the repair process. And don't forget to have your home reassessed once the work is complete, in case its value has changed (you may need to up your coverage). Kelly's claim cheque arrived in the mail two days after she signed her paper work , and as expected, it reflected the roof 's depreciated value, which was about 30 per cent less than its full replacement cost. All in all, Kelly says her experi- ence with the claim process was positive – and that's the reason she intends to keep her home and auto insurance with AMA. W Small Spaces Need Insurance, Too Condominiums: Condo buildings are covered by a condo association's insurance policy, but condo contents are not. So if the unthinkable happens – fire, theft, sewer backup – your belongings won't be covered, nor will any upgrades you've made to the fixtures or finishings. Condo insurance protects the contents of your home and covers any improve- ments you've made to the unit, such as new cupboards, appliances or flooring. Rental homes: "Many renters incorrectly assume they are covered by the property owner's insur- ance policy," says Karen McDougall of AMA Insur- ance. If your apartment is destroyed in a fire, or a break-in leaves you empty- handed, the contents of your living space aren't covered unless you have insurance. How much do you need? Your ideal coverage depends on the value of your stuff. Do you own dia- mond jewellery or a $5,000 mountain bike? As for the deductible, that depends on how much you're comfort- able paying upfront in the event of a claim. The higher it is, the lower your monthly premiums are likely to be. Talk to an insurance advisor to find the best fit. Calgary-based member Laurie Kelly inspects the spot where hail damaged her roof last August.