Remax sarnia realty inc., Brokerage
1319 Exmouth St. Sarnia,
ON, N7S 3Y1

Ryan Gervais

Ryan is a full time Sales Representative with Re/max and look forward to being your guide to the Sarnia Real Estate market

Protecting your Biggest Asset

no Comments In Insurance

For many of us our home will be the biggest asset we purchase. In fact we will probably end up paying more in interest on this asset than what the house is worth. We work month after month, year after year paying down the debt in the hope that one day we will be mortgage free. And hopefully for all of us, some day that will be a reality.

However, there are many things that could stop us from achieving the goal of financial freedom symbolized in being mortgage free. I remember a few years ago I was talking to a older friend about his mortgage. It may sound somewhat familiar. He’d spent 30+ years working in chemical valley. He’d gone through some ups and downs in life with work and family, but through everything he kept his head up. And at the age of 60 he paid off his mortgage. At the end of our conversation I was intrigued. Pay off your mortgage? That will happen? I don’t think it’s that we don’t intend to pay off our mortgage. I think that it just seems so far away. Let’s think about the things that could get in the way.

The first and simplest thing to happen could be to lose our house in a fire or some other kind of catastrophe. Fortunately, most people have a well known thing called insurance. Unlike auto insurance however, house insurance is not made mandatory by the Ontario government. Although most people have it because without it a bank would not give you a mortgage. Once your mortgage is paid off you could consider cancelling your insurance coverage though I do not know of anyone who has. Our houses are too valuable and we have spent too many years working hard to earn that asset.

One important thing to consider with house insurance is who you have your house insurance with. Since house insurance is not mandated by the government it is also not governed by the government. This means that each individual provider writes its own policy. This also means that each provider’s policy will be different from the others. It is important to understand the coverages your policy has. Make sure your coverage is something you are comfortable with. You’ve worked or will work too many years to lose this asset.

There are many other things to consider when protecting your home. You might be wondering, “What else is there?” Well, there is definitely more and we’ll be sure to get into them in the coming weeks.

Ryan Gervais

Ryan Gervais is a full time multi-award winning agent who is here to help you through your real estate journey. Ryan's main passion is to protect his clients greatest investment by making sure you buy a great house for a fair price. Reach out today and see for yourself the difference a great agent can make.

(519) 381-4055

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