Have questions about insurance ?

Let us provide you answers.

 +  Is there a penalty when I cancel my car or home insurance policy?

When you request that your policy be canceled 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.

 +  What’s the difference between collision and comprehensive coverage?

Collision and comprehensive coverages work together to cover the cost of repairing or replacing your car so that you won’t need to pay out-of-pocket expenses (except for your deductible).

 +  What does collision coverage include?

Collision coverage is optional and covers the cost of repairing or replacing your car if it collides with another vehicle (or object), the ground, or an object in or on the ground (some examples are trees, road sign or guardrail).  You will be required to pay a deductible.

 +  What does comprehensive coverage include?

Comprehensive coverage is optional and covers the cost of repairing or replacing your vehicle if it’s damaged by fire, theft or attempted theft, vandalism, falling or flying objects, a natural disaster, riot or civil disturbance.

 +  What is a deductible and how does it work?

The deductible is the amount that you are responsible for paying when you have a claim.  When you have a claim that is covered by your insurance policy any costs that exceed the deductible will be paid by the insurance company, up to the limits shown on your policy.

 +  What can I do to lower my car insurance rates?

Consider bundling your car and home insurance for discounts on both policies. Increasing your deductible can also lower your insurance premium. Maintaining a good driving history with no tickets or at fault accidents makes a big difference in how much you will pay. Some insurance companies offer discounts when you allow them to monitor your driving habits through an app – good driving behaviours = lower car insurance premiums.

 +  I’m going out of the country on vacation, can I stop my car insurance temporarily?

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.

 +  Am I covered for a rental vehicle if I’m involved in an accident?

When you are not at fault for an accident, you are usually covered for a rental car. To ensure that you always have a rental car if an accident or other damage does occur, you want to ensure that you have Loss of Use coverage on your policy (usually identified as an endorsement form #20 in the coverage section).

 +  Do I have to purchase insurance from the car rental company when I rent a car or is there coverage included with my car insurance?

Your liability insurance follows you everywhere in North America. Damage to a rental car would be covered by your car policy only if you have the additional coverage Liability for Non-Owned Automobiles (listed on your car policy as endorsement #27). You can add this coverage to your policy at any time.

 +  Can I get a discount if I have my car and home insurance with the same insurance company?

Yes, you can! Depending on the insurance company, the discount could be as high as 15%!

 +  My car isn’t worth very much do I really need to buy car insurance?

You are required to purchase certain coverages such as liability insurance* (protects you if you are sued as the result of a car accident) and accident benefits** (helps you recover from injuries resulting from a collision that you or a passenger is injured in a collision or passes away) own and use a car – these are mandatory.  There are some coverages that are optional, such as collision and comprehensive.  These optional coverages pay for the cost to repair or replace the vehicle after an accident or other events such as fire, vandalism or a tree falling on your car.  If you are willing to pay to repair damage out of pocket, you are not required to purchase collision or comprehensive. *Liability insurance protects you in the event that you are sued and deemed liable for damage to property or bodily injury to a third party. **Accident benefits provide insurance benefits to help you recover in the event that you (or a passenger) are injured in a collision. There are also benefits available for your family if you (or a passenger) passes away.

 +  What is the difference between actual cash value (ACV) and replacement cost?

Actual cash value means that depreciation will be applied to the damaged property when estimating how much will be paid out by the insurance company. Replacement cost allows for reimbursement of the cost necessary to replace the damaged property with similar type and quality.

 +  I’m shopping to replace my car; how can I get a quote for the make and model I am interested in?

You can request a quote through myInova by selecting ‘Get a Quote’.

If you are shopping to replace your car, you need to select ‘Quote for a Replacement Vehicle’. If you are shopping to add a car to your policy, you will need to select ‘Quote for a New Vehicle’, regardless if the vehicle is new or used.

To ensure you are rewarded with all the savings you are entitled to, and that we have quoted the best possible price, one of our brokers will contact you to review within 1 to 2 business days.

 +  Is there a penalty when I cancel my car or home insurance policy?

When you request that your policy be canceled 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.

 +  Can I get a discount if I have my car and home insurance with the same insurance company?

Yes, you can! Depending on the insurance company, the discount could be as high as 15%!

 +  What can I do to lower my home insurance rates?

Consider bundling your car and home insurance for discounts on both policies. Increasing your deductible can also 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.

 +  What is Personal Liability coverage (home insurance) and why do I need it?

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.

 +  What does a home policy cover?

All home insurance policies include liability coverage. Liability insurance protects you in the event that you are sued and deemed liable for damage to property or bodily injury to a third party. 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.

 +  I’m going away on vacation for a week or two – is there anything that I should do for my home insurance?

It’s always a good idea to have someone checking on your home when you are away. You may also consider shutting off the water main.

During the regular heating season – most home policies have conditions requiring you to have someone checking on your home regularly and ensure that the water main is turned off at the source and all the pipes are drained as this will help avoid any water disasters should something unexpected happen.

 +  What is a deductible?

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.

 +  Do I need a police report to file a claim?

A police report is not required most of the time. In the event of a hit and run, a theft or attempted theft, you should report the incident to the police.

 +  What is Inova’s role during the claim process?

As your broker, we are here to provide you advice and to assist and advocate for you during the claims process.

 +  Are my personal belongings covered if they are damaged in a car accident or stolen out of my car?

In most cases, your car insurance does not pay for damage or theft of your personal belongings, you need to have home insurance (homeowners, tenant or condo) for your personal belongings to be insured.

 +  Am I covered for a Hit and Run?

You must have collision coverage on your car policy to be covered for a Hit & Run. You should report the incident to the police within 24 hours of discovering the damage as many insurance companies require the police report when submitting a claim.

 +  My windshield is cracked, is it covered?

Windshield claims are generally covered under the comprehensive coverage of a car policy as the cause of the loss is usually flying objects (rocks or stones). You should contact one of the local glass/windshield repair shops in your community – they can usually handle the insurance claim for you.

 +  How is fault determined in an accident?

Fault is determined by the insurance adjuster assigned to investigate and settle the claim. There are Fault Determination Regulations that are followed in each province.

 +  Will reporting an accident to the insurance company affect my insurance premiums?

Yes, it may impact your insurance premium. Some insurance companies offer Claims Protection coverage which forgives your first claim and treats it like it never happened. It varies depending on the insurer.

 +  I want to report a claim, what do I do next?

Go to the Claims page in the Help section.

 +  Should I make a claim for a small loss?

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.

 +  Am I covered for Acts of God or Natural Disasters?

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.

 +  I have water damage, am I 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.

 +  How will a claim affect my insurance premiums?

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.

 +  What happens if I have multiple claims?

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.

 +  Is there a penalty when I cancel my car or home insurance policy?

When you request that your policy be canceled 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.

 +  What’s the difference between collision and comprehensive coverage?

Collision and comprehensive coverages work together to cover the cost of repairing or replacing your car so that you won’t need to pay out-of-pocket expenses (except for your deductible).

 +  What does collision coverage include?

Collision coverage is optional and covers the cost of repairing or replacing your car if it collides with another vehicle (or object), the ground, or an object in or on the ground (some examples are trees, road sign or guardrail).  You will be required to pay a deductible.

 +  What does comprehensive coverage include?

Comprehensive coverage is optional and covers the cost of repairing or replacing your vehicle if it’s damaged by fire, theft or attempted theft, vandalism, falling or flying objects, a natural disaster, riot or civil disturbance.

 +  What is a deductible and how does it work?

The deductible is the amount that you are responsible for paying when you have a claim.  When you have a claim that is covered by your insurance policy any costs that exceed the deductible will be paid by the insurance company, up to the limits shown on your policy.

 +  What can I do to lower my car insurance rates?

Consider bundling your car and home insurance for discounts on both policies. Increasing your deductible can also lower your insurance premium. Maintaining a good driving history with no tickets or at fault accidents makes a big difference in how much you will pay. Some insurance companies offer discounts when you allow them to monitor your driving habits through an app – good driving behaviours = lower car insurance premiums.

 +  I’m going out of the country on vacation, can I stop my car insurance temporarily?

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.

 +  Am I covered for a rental vehicle if I’m involved in an accident?

When you are not at fault for an accident, you are usually covered for a rental car. To ensure that you always have a rental car if an accident or other damage does occur, you want to ensure that you have Loss of Use coverage on your policy (usually identified as an endorsement form #20 in the coverage section).

 +  Do I have to purchase insurance from the car rental company when I rent a car or is there coverage included with my car insurance?

Your liability insurance follows you everywhere in North America. Damage to a rental car would be covered by your car policy only if you have the additional coverage Liability for Non-Owned Automobiles (listed on your car policy as endorsement #27). You can add this coverage to your policy at any time.

 +  Can I get a discount if I have my car and home insurance with the same insurance company?

Yes, you can! Depending on the insurance company, the discount could be as high as 15%!

 +  My car isn’t worth very much do I really need to buy car insurance?

You are required to purchase certain coverages such as liability insurance* (protects you if you are sued as the result of a car accident) and accident benefits** (helps you recover from injuries resulting from a collision that you or a passenger is injured in a collision or passes away) own and use a car – these are mandatory.  There are some coverages that are optional, such as collision and comprehensive.  These optional coverages pay for the cost to repair or replace the vehicle after an accident or other events such as fire, vandalism or a tree falling on your car.  If you are willing to pay to repair damage out of pocket, you are not required to purchase collision or comprehensive. *Liability insurance protects you in the event that you are sued and deemed liable for damage to property or bodily injury to a third party. **Accident benefits provide insurance benefits to help you recover in the event that you (or a passenger) are injured in a collision. There are also benefits available for your family if you (or a passenger) passes away.

 +  What is the difference between actual cash value (ACV) and replacement cost?

Actual cash value means that depreciation will be applied to the damaged property when estimating how much will be paid out by the insurance company. Replacement cost allows for reimbursement of the cost necessary to replace the damaged property with similar type and quality.

 +  I’m shopping to replace my car; how can I get a quote for the make and model I am interested in?

You can request a quote through myInova by selecting ‘Get a Quote’.

If you are shopping to replace your car, you need to select ‘Quote for a Replacement Vehicle’. If you are shopping to add a car to your policy, you will need to select ‘Quote for a New Vehicle’, regardless if the vehicle is new or used.

To ensure you are rewarded with all the savings you are entitled to, and that we have quoted the best possible price, one of our brokers will contact you to review within 1 to 2 business days.

 +  Is there a penalty when I cancel my car or home insurance policy?

When you request that your policy be canceled 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.

 +  Can I get a discount if I have my car and home insurance with the same insurance company?

Yes, you can! Depending on the insurance company, the discount could be as high as 15%!

 +  What can I do to lower my home insurance rates?

Consider bundling your car and home insurance for discounts on both policies. Increasing your deductible can also 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.

 +  What is Personal Liability coverage (home insurance) and why do I need it?

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.

 +  What does a home policy cover?

All home insurance policies include liability coverage. Liability insurance protects you in the event that you are sued and deemed liable for damage to property or bodily injury to a third party. 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.

 +  I’m going away on vacation for a week or two – is there anything that I should do for my home insurance?

It’s always a good idea to have someone checking on your home when you are away. You may also consider shutting off the water main.

During the regular heating season – most home policies have conditions requiring you to have someone checking on your home regularly and ensure that the water main is turned off at the source and all the pipes are drained as this will help avoid any water disasters should something unexpected happen.

 +  What is a deductible?

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.

 +  Do I need a police report to file a claim?

A police report is not required most of the time. In the event of a hit and run, a theft or attempted theft, you should report the incident to the police.

 +  What is Inova’s role during the claim process?

As your broker, we are here to provide you advice and to assist and advocate for you during the claims process.

 +  Are my personal belongings covered if they are damaged in a car accident or stolen out of my car?

In most cases, your car insurance does not pay for damage or theft of your personal belongings, you need to have home insurance (homeowners, tenant or condo) for your personal belongings to be insured.

 +  Am I covered for a Hit and Run?

You must have collision coverage on your car policy to be covered for a Hit & Run. You should report the incident to the police within 24 hours of discovering the damage as many insurance companies require the police report when submitting a claim.

 +  My windshield is cracked, is it covered?

Windshield claims are generally covered under the comprehensive coverage of a car policy as the cause of the loss is usually flying objects (rocks or stones). You should contact one of the local glass/windshield repair shops in your community – they can usually handle the insurance claim for you.

 +  How is fault determined in an accident?

Fault is determined by the insurance adjuster assigned to investigate and settle the claim. There are Fault Determination Regulations that are followed in each province.

 +  Will reporting an accident to the insurance company affect my insurance premiums?

Yes, it may impact your insurance premium. Some insurance companies offer Claims Protection coverage which forgives your first claim and treats it like it never happened. It varies depending on the insurer.

 +  I want to report a claim, what do I do next?

Go to the Claims page in the Help section.

 +  Should I make a claim for a small loss?

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.

 +  Am I covered for Acts of God or Natural Disasters?

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.

 +  I have water damage, am I 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.

 +  How will a claim affect my insurance premiums?

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.

 +  What happens if I have multiple claims?

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.