CIBC Home Insurance Review

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Picture of By <span>Matthew Roberts</span>
By Matthew Roberts

Updated on July 20, 2023

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Picture of By <span>Matthew Roberts</span>
By Matthew Roberts

Updated July 20, 2023

Visit author page

3 minute read

Article Contents

CIBC Home Insurance

Your home is a safe haven where you go for peace and relaxation with your loved ones. It is also where you store most of your possessions and valuables, including clothing, jewelry, memorabilia, and your favorite gadgets.

In light of this, it is only reasonable that you secure your home against possible accidents. CIBC home insurance helps with this by providing top-quality home insurance that covers you against a variety of unwanted incidents.

With the right CIBC home insurance, you can rest easy knowing that bouncing back from any loss or damage to your home, including the assets within it, will be an easier journey.

CIBC: A Brief History

On June 1, 1961, two of Canada’s leading chartered banks, the Imperial Bank of Canada and the Canadian Bank of Commerce, decided to merge. Their union led to the birth of the Canadian Imperial Bank of Commerce (CIBC).

CIBC has its headquarters in Toronto, Ontario. But the services of the bank are available all across the country, as well as internationally in the US, Asia, the Caribbean, and Europe. Globally, it has more than 40,000 employees and ten million clients. In 2012, Bloomberg Markets Magazine ranked CIBC as the strongest bank in North America and the third strongest bank in the world.

CIBC Insurance is a subsidiary of CIBC. Its insurance products and services, which include home insurance, auto insurance, travel insurance, and more, are available to all residents of Canada. With the backing of its parent company, CIBC insurance has been able to deliver insurance services that far exceed what many other insurance companies are capable of.

The Different Types of Home Insurance CIBC Offers

CIBC home insurance is available in a variety of plans to meet the unique needs of each homeowner. The company also offers customers the option to tailor a cover plan to best work for them.

Home insurance with CIBC generally covers fire incidents, vandalism, theft, and other hazards. Insured parties also get cover for injuries suffered from an accident within the insured home.

Depending on your property type, you can opt for any of the following forms of home insurance from CIBC:

  • House Insurance: This covers the interior and exterior of your home, and also protects you from personal liability if someone gets injured on your property. A homeowner can customize this product to cover not the residence, but also outbuildings and personal belongings against fire, theft, and vandalism.
  • Condo Insurance: This covers personal possessions stored within the property and protects you against personal liability. Upgrades made to the condo are also covered against fire, theft and other accidental damage.
  • Rental Insurance: This protects possessions in your rented home and shields you from personal liability.

You can get CIBC home insurance for your seasonal property, rental property, cottage, or other types of property. You can also get it to secure your boats, art, jewelry, and other valuables kept within the property.

CIBC insurance offers additional coverage to protect against water damage to your home and possessions. If you meet the eligibility requirements, protection against force majeure, such as earthquakes and floods, is accessible.

Why Consider CIBC When It Comes to Home Insurance

Aside from the company’s customer-friendly services, CIBC home insurance also helps you save money. For example, with its Multi-line Discount, you can bundle together your home and car insurance to cut down your insurance premium.

Other money-saving discounts from CIBC insurance are:

  • Claims-Free Discount: You can save up to 20 percent with this discount. But it is only accessible if you haven’t recently made a claim.
  • Security Systems Savings: If your home has a fire alarm, burglar alarm and automatic sprinklers installed, CIBC offers home insurance with up to 15 percent off.
  • Healthy Home Discount: If your home meets LEED environmental standards, you can get CIBC home insurance with 10 percent off.

Finding out how much home insurance from CIBC will cost you is fast and easy with CIBC insurance quotes. You can get a quote by simply calling the company and providing them with the necessary details about your property, which they will then use to calculate your home insurance quote.

Another reason to consider CIBC home insurance is the Identity Theft Assistance service the company provides to its customers at no extra charge. This service is designed to protect you against the ever-present threat of identity theft by providing you with advice.

If you do fall victim to identity theft, you will be in the care of professionals from CIBC who will help you recover and restore your stolen identity.

What Other Products Does CIBC Offer?

Aside from home insurance, other available CIBC insurance products are:

Life, Health & Accident Insurance

With this insurance product, your family will be provided for in the event of the client’s sickness, death or accident. It’s available as CIBC Critical Illness Insurance, CIBC Accident Protection Plan, CIBC Guaranteed Acceptance Life Insurance, among others.

Travel Insurance

CIBC protects you in the event of sickness, missed flights, or other emergencies while travelling internationally or locally.

Auto Insurance

CIBC auto insurance can be a real life-saver in the event your vehicle is stolen or involved in an accident. You can choose liability coverage, a collision insurance plan, or a comprehensive insurance plan.

Creditor Insurance for CIBC

This insurance type covers you and your family financially in the event of job loss, disability, critical illness, and other incidents that may render you unable to settle bills.

How to Submit a Claim With CIBC

The CIBC home insurance team is available 24/7/365 to answer the needs of their clients. They can be reached via the toll-free line any day and at any hour to make an emergency claim. Claims advisors are also available from the company to help all clients facilitate the process of making a claim.

When submitting a home insurance claim to CIBC, be sure to have the following information available:

  • Home insurance policy number
  • List of damages to your home and possessions.
  • List of missing items
  • Description of the damage to your property
  • Photographs of the damage to support your claim

Congratulations! You made it to the end!

Now, here is the easy part: complete your quote in under 2 minutes

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