Many women who have purchased their own home don’t have the proper insurance, according to a recent poll conducted for TD Insurance.

The poll found more than one in three (36%) don’t have adequate insurance coverage beyond mandatory home insurance. However, 43% of women homeowners from the same poll said the best thing about owning a home is the financial security.

“Fire, theft and water damage are serious threats to any homeowner and are covered with basic home insurance. An equally serious threat is the inability to make mortgage payments when something happens to the homeowner,” says Jane Duchscher, vice president, TD Insurance. “With the proper insurance, you can avoid having your dream home turn into your worst nightmare in the event you can’t make your mortgage payments.”

Mortgage life and critical illness insurance can help protect homeowners and their families from unexpected financial burdens when faced with a critical illness or even death, TD Insurance says.

“Ensuring that your mortgage payments are taken care of when the accidents of life occur is just as important as locking the front door when you leave your house,” adds Duchscher.

The TD Canada Trust Women and Home Ownership Poll surveyed women 18 years of age and older from across the country, to explore home ownership behaviour among women. The survey was conducted by Angus Reid Strategies from February 4 – 10, with English and French speaking Canadians using the Angus Reid Forum. The sample size includes 1,000 women who have purchased a home independently.

IE