Important Information
There are all kinds of false myths and misunderstandings about the nature of insurance that can confuse and annoy you. To help clear the confusion and reduce the annoyance, we offer the following information about various common insurance-related situations and issues. If you have a question that isn’t covered here (and many questions aren’t) then please call us. We’ll give you straight answers even when the facts aren’t pretty.
1. Some basic ways you can help reduce your premium costs
2. Preventing auto accidents and losses
3. Awareness of your surroundings, a great defence against theft
4. Renting out your seasonal home/cottage
5. Leaving your house, secondary home or seasonal home unoccupied for a while
6. Knob & Tube, and aluminum wiring
7. Oil Tanks
8. Business loss prevention
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1. Some basic ways you can help reduce your premium costs
Automobile
Consider higher deductibles
Drop collision coverage on older vehicles
Ask about savings for putting auto and home insurance with the same insurer
Young drivers or drivers new to Canada from outside North America should take an approved driver training course eligible for an Ontario Government Certificate and lower insurance rates.
Home
Consider higher deductibles
Install a monitored burglar and/ or fire alarm
Ask about savings for putting auto and home insurance with the same insurer
Commercial
Commercial coverages are tailored to each individual business need and it would be presumptuous to offer ‘general’ advice about controlling premium costs. A call to our Commercial Department will get you an immediate review of your situation and specific recommendations.
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2. Preventing auto accidents and losses
Here’s some simple tips for avoiding some of the most common losses experienced by drivers:
Never leave a car running with no one in it. Thieves target cars in driveways being warmed up on cold winter days and cars left running for a quick coffee stop or movie rental return.
Never leave belongings or parcels in view in a vehicle. Put golf clubs, camera, shopping parcels, clothing etc., in the trunk before you leave the vehicle.
Drive defensively. Always give yourself time and room to react to sudden, unforeseen moves by other vehicles, people and animals. Be cautious in driving on wet or icy roads, particularly that unseen threat: black ice!
The driver is responsible for maintaining control of his or her vehicle at all times, regardless of circumstances.
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3. Awareness of your surroundings, a great defence against theft
Unfortunately, our homes and our cars are targeted by thieves who “stake us out”. When leaving your home or car, just do a quick check to see if anyone’s “watching” you. We don’t mean you should be looking over your shoulder all the time. Just a quick check when you lock your door before leaving.
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4. Renting out your seasonal home/cottage
If you rent out your cottage or other seasonal home, your regular insurance will not cover your property. Special arrangements are required to provide coverage in this situation. Call us and we’ll help you with these arrangements.
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5. Leaving your house, secondary home or seasonal home unoccupied for a while
If you are leaving the building unoccupied during the heating season for more than 4 consecutive days, drain the water pipes or arrange daily checking of the premises.
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6. Knob & Tube, and aluminum wiring
Older homes (at least 50 years or more) may have knob and tube wiring which cannot easily bear the appliance usage imposed on a home’s wiring system these days.
Many companies won’t insure buildings with knob and tube wiring. For your own protection and insurability, check wiring system to ensure you don’t have knob & tube. Replace it immediately if you do.
If you have aluminum wiring (many homes built between the mid 60's through to the mid 70's do) then have it checked and either replace it or have it OK'd by way of an electrical safety certificate.
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7. Oil Tanks
Old, unused, underground oil tanks will leak and contaminate soil and underground water. This is expensive to clean up. Therefore, governments across Canada are requiring inspection and upgrade of existing oil tanks and removal of old, unused tanks. In turn, insurers are requesting detailed information about, and regular inspection of, oil tanks both above and below ground, used or unused.
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8. Business loss prevention
Our commercial insurance department provides loss control advice and service designed to meet the needs of each individual business or commercial property.
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This advice and service is readily available by calling our office.
Insurance is a far more complex and subtle subject than most people would think. So, if you have a question of any kind, pick up the telephone and call us at 416-489-5570 or, 1-800-953-0999.
We’re here to serve your insurance needs.
