Everyone needs a house to come home to, and where you live ensures your health and safety from the elements outside. But having a roof over your head and four walls surrounding you alone are not enough. You need the comprehensive protection of a Property Insurance plan. This covers any necessary repair or even replacement of the structure and lifestyle essentials such as furniture, appliances, and treasured keepsakes that transform your house in the event of an unforeseen accident like a fire or burst water pipe.

Property Insurance provides financial and liability protection that equips you with resources to replace personal effects and repair your property, as well as afford legal fees associated with settling damage or injuries suffered by a third party on your property. This complete coverage protects you and the place you call home from various accidents and natural disasters, allowing you to recover from the cost of damage and restore your everyday comfort.

FAQs

What is the difference between guaranteed replacement cost (GRC) and actual cost value (ACV)?

Guaranteed Replacement Cost (GRC) replaces what you’ve lost in an insurance related claim regardless of what it’s worth is today. For example, if your 10-year-old couch is destroyed, GRC will provide you with a new same or similar model couch to replace it. Actual Cost Value (ACV) takes depreciation into account. Using the same example, if your 10-year-old couch is destroyed you’d receive its current value (i.e. what you’d get for it if you tried to sell it used), not what it costs to buy a new replacement couch.

Do I need extra water insurance? I thought water damage was covered on my policy.

Water escape from a burst pipe or malfunctioning washing machine is a standard coverage on most property insurance policies. However, if your sewer or septic system backs up or your basement is flooded by overland water during heavy rain, most policies require you to purchase additional water coverage to protect against these types of water damage. Your broker is knowledgeable about the various options. Speak to your Archway broker about water endorsements to make sure you have the coverage you need.

I just rent an apartment; do I really need tenant insurance?

It’s very important and extremely economical for all tenants to invest in tenant insurance. It covers temporary accommodations should your apartment become uninhabitable due to fire or flood. It covers your legal cost and liability should you be sued for accidentally causing damage to the apartment building where you live or have a guest slip and fall while visiting your apartment. Finally, it also provides coverage to replace your furniture, clothes, electronics, and other possessions should you lose everything in a fire.

Testimonials

"Great service, a place where you are treated as a customer and not just a number."
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Carolyn H Google Review
"The service I received from Stacie at Archway Insurance was more than excellent. The service was fast and Stacie was very knowledgeable and helped educate me on what I needed to do. I would highly recommend this company for your insurance needs. They are exceptional."
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Karen S Google Review
"Customer service at Archway is exceptional. I have always had positive experiences and the staff are professional, responsive and courteous. Would highly recommend them."
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Michelle L Google Review
"Excellent service! Very attentive to my family's needs."
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Darren C Google Review
"Painless transaction. Had to sign a form. Was in and out in 3 mins."
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Mike W Google Review
"We live in Ontario and my son is attending College in Sydney which made arranging insurance a bit more difficult. Archway was amazing, the Customer Service I received was top notch. Great people to deal with."
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Matt S Google Review

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