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Square One explains what home insurance coverage is available to Calgary residents affected by the power outage

October 12, 2014

(Vancouver, BC): As a result of the recent electrical fire in downtown Calgary, thousands of homeowners and renters will be without power for up to a week. Square One explains to those affected by the power outage what home insurance coverage may be available to them.

“First, it is important to look at the type of home insurance protection you have,” states Daniel Mirkovic, president of Square One. “Named perils policies only protect against the types of loss or damage specifically described in the policy wordings. All-risk or comprehensive policies, on the other hand, protect against all types of loss or damage except for what’s specifically excluded.”

The most common risks associated with power outages, and the coverage available under most comprehensive home insurance policies, are:

If you suffer losses from a power outage, contact your home insurance provider to discuss what coverage is available to you. Keep in mind that you will be responsible for paying your policy deductible before any claim payments will be made. Most policy deductibles range from $500 to $5,000.

Suffering a loss and making a home insurance claim is stressful. So, consider taking these simple steps to protect your home and family during a power outage:

For more home insurance tips, visit www.squareoneinsurance.ca.

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Established in 2011 and based in Vancouver, British Columbia, Square One offers the only home insurance policy in Canada that can be personalized to your unique needs. That means you only pay for the protection you need. Square One is also one of the few providers to automatically include earthquake, water backup and broad water protection in its policies. Square One currently serves British Columbia, Alberta, Saskatchewan, Manitoba and Ontario. For more information about Square One, or to get an online quote, visit www.squareoneinsurance.ca.

For more information on this release, please contact:

Chris Bayly
Square One Insurance Services Inc.
Tel: 1.855.331.6933 ext 101
Cel: 1.604.329.7534
chris.bayly@squareoneinsurance.ca