Have questions about insurance ?
Let us provide you answers.
When you request that your policy be cancelled on the renewal date there is no penalty or additional fees. When you request a cancellation in the middle of the policy term, there is an administration fee applied to the cancellation.
Increasing your deductible can lower your insurance premium. Consider installing a monitored burglar and/or fire alarm – most insurance companies offer good discounts for homes with security systems. Property maintenance is also very important, in particular your roof, plumbing, electrical and heating systems. Consider paying for small claims out of pocket to maintain your claims free discount and status.
If you unintentionally cause injury or property damage you could be held legally liable for the costs. Personal Liability protects your financial wellbeing from lawsuits if you are sued. Personal Liability protects you everywhere in the world. It is important to note that any liability claims arising from a car accident are covered under your car insurance policy and excluded from home insurance policies.
A real-life example of this would be a guest in your home is walking through your garage and a ladder falls on them. They suffer a broken leg and a broken arm that result in permanent injury. They decide to sue you for damages as they are no longer able to work.
All home insurance policies include liability coverage.
Own a House, Duplex/Triplex or Townhouse? In addition to liability insurance, a homeowners policy provides protection for the building, detached structures (shed, garage), personal property and additional living expenses.
Rent your home? In addition to liability insurance, a tenants policy provides protection for your personal property.
Own a Condo? In addition to liability insurance, a condo policy provides protection for your personal property, improvements and betterments that you make at your own expense and loss assessment coverage.
We do not recommend that you stop or cancel your car insurance while you are away on vacation. However, when you are away for 45 days or more, you can suspend some of the insurance coverages and save some money while you are not driving or using the vehicle.
This is the portion that you are responsible to pay in the event that an insured claim occurs. The insurance company pays costs over and above the deductible, subject to the policy or coverage limits.
A police report is not required most of the time. In the event of a theft or attempted theft, you should report the incident to the police.
As your broker, we are here to provide you advice and to assist and advocate for you during the claims process.
Go to the Claims page in the Help section.
We highly recommend that when possible, you pay for any small claims out of pocket. Home insurance is designed to protect your overall financial security, in particular large claims. When you make a claim, regardless of the amount, you will lose your claims free discounts and pay higher insurance premiums overall.
Acts of God and Natural Disasters are not automatically covered under a home policy. Events such as earthquake and flood must be specifically identified on the policy to be covered.
In the case of water damage, it is critical to identify and understand what caused the water damage. If it’s a leaky pipe, you’re not likely covered as home insurance covers sudden and accidental losses – leaks that occur over a period of time are simply not covered by home insurance policies. If you’re unsure, your best bet is to contact a property restoration company in your community to get an assessment. They can assist you in responding to the immediate situation, mitigating further damage and providing you with an assessment of what caused the water in the first place.
All property claims, big or small, can impact the premiums that you pay. You may lose a claims free discount, which in some cases could be 10% to 25%. Some insurance companies offer Claims Protection coverage which forgives and forgets your first home insurance claim.
When you have 1 or 2 home insurance claims in 5 years it will impact your insurance premiums. More than 2 claims in 5 years could impact your ability to get insurance. It is important to evaluate whether or not you should place a claim.