Did You Know?
Quick Personal Lines Insurance Tips.
January 1, 2021
In order to have coverage from pipes freezing should you leave your home unoccupied for more than 4 days during the regular heating season, you must make arrangements to have the pipes drained or have a competent person check your house every day to ensure the heating system is OK.
Change in Occupancy of Home
Your insurance policy could be void if you change the occupancy of your home and fail to notify your broker or insurer; Example - if your home becomes vacant for more than 30 days, if you decide to move out of your home and rent your home, if you run a business from your home. If you have a change in occupancy to your home, please notify your broker or insurer.
Guaranteed Replacement Cost Insurance
Some insurance companies will Guarantee the Replacement Cost of your dwelling if you maintain 100% of the limit of coverage determined by an acceptable evalu rater program. However, if you renovate your home which can result in an increased value of your home by $5,000 or more, your Guaranteed Replacement Cost can be void if you fail to notify your broker or insurer. Example: finish a unfinished basement, addition of a bathroom, addition of a three wall addition.
Recreational Vehicle Insurance
All Recreational Vehicles such as, Vacation Trailers, Motorhomes, ATV'S, Snowmobiles, Watercrafts including Jet Skies, Sea Doo, Waive runners, and Motorcycles are required to have their own insurance policies. Many people believe that while these items are stored in their garages, they have coverage, this is a myth, your homeowners policy does not respond to such recreational vehicles.
If you are renting premises, your landlord does not provide coverage for Personal Property or Liability exposures. You should have a tenant's package providing coverage for your personal property and your personal liability exposure's, give us a call for a quote today! The cost is as low as $120 per year.
Accident Waiver Enhancement
You may qualify to purchase a coverage called Accident Waiver Enhancement. This is an optional coverage which protects your driving record and claims free discount in the event of a first at fault accident. The cost for this coverage can range from $25 - $30 depending on your insurance carrier.
Building a New Home
The building season is upon us!! If you are building a new home, or making major renovations to your existing home or cottage, you need a builders risk insurance policy to provide coverage for damage to the property or building materials while under construction. The traditional property policy excludes coverage while the home is under construction or major renovations. This coverage should be purchased prior to the start of construction.
Do you have a Health Insurance Plan! Health Insurance plans provide supplementary health and dental benefits including prescription drugs, vision care, semi private and private hospital rooms, short and long term disability, emergency medical travel, ambulance, home nursing, chiropractic and life insurance to individuals and Families.
Umbrella Liability provides you with an extra layer of protection in addition to the Liability Coverage you have through your Home and Auto Insurance. With Claims Settlement Amounts increasing more than ever, your current limits of Liability may not be adequate. If an unfortunate accident should happen, do you have enough liability insurance from your current policies to cover your costs for negligence?
Since no one can predict how much will be awarded in a settlement, umbrella insurance is not just for the wealthy anymore, but a needed protection for every policyholder. The cost to add an Umbrella to your Home and Auto Insurance is usually between $180 and $300. Please call us for a quotation.