Frequently asked Questions

Does the kind of car I drive affect my insurance premium?

Yes, there is plenty of evidence to show that some vehicle makes, models and years have more claims attached to them than others. More claims generally mean a higher insurance risk. Fewer claims equate to lower risk. In addition, some vehicles may be more difficult to repair, or have parts that are harder to source. All of these things affect auto insurance premiums.

How do you calculate my auto insurance premium?

We look at a lot of factors: your age and driving experience, vehicle use, vehicle type and year, other claims you’ve made in the past as well as the history of anyone else who will be driving your car. Car insurance premiums will vary from person to person, since each individual situation is so unique. It’s important that your coverage is built for you.

Who else can drive my car besides me?

Anyone that holds a valid licence and has the registered owner’s permission is permitted to drive your car as long as they are not specifically excluded to drive a listed car on your policy. If the driver is a frequent user of your car, they must be added to the policy.

Does my auto insurance policy cover ‘hit and runs’?

If you have collision coverage, then the answer is yes. Just remember that the accident needs to be reported to the police within 24 hours in order to be considered a hit and run.

Does my home insurance cover any kind of water damage?

Some, but not all, water damage is covered by your home insurance. Generally, depending on the cause, sudden, accidental and unforeseen water damage is covered by your policy. Of course there are always exclusions, so please review your policy carefully with your agent to make sure you understand what may or may not be covered.

I’m a renter. Do I still need home insurance?

Technically, you aren’t required by law to carry tenants insurance, but we’ve sure seen plenty of renters who wished they did. Tenants insurance protects your personal property, including furniture, electronics, clothing, jewellery, art – all of the things that make your place a home, even if the structure itself doesn’t belong to you. If anything ever happened, it could cost you thousands to replace your belongings, but tenants insurance would cover all these things, even the cost of accommodation if you need to temporarily move out during the repairs.

What you might not know is that tenants insurance also gives you liability coverage in case of accidental harm. If someone hurts themselves in your apartment or if you accidentally damaged the building you live in – or even a hotel you’re staying in, anywhere in the world – you’re covered.

I’m planning on doing renovations to my house. What do I need to know?

Yes, you’ll definitely need to make your insurance company aware of any renovations, as they will impact the value of your home. Since you’ll need enough insurance to cover the cost to rebuild your home, we may need to revise your policy to update your its value.

Let’s start at the beginning. What’s a deductible, anyways?

A deductible is your contribution to the claim settlement, and is subtracted from the claim to determine what your insurance company will pay out. For example, if it costs $5,000 to repair your home after an incident, and your deductible is $500, we’ll pay $4,500 and you’ll pay $500. The deductible will have to be paid each time you make a claim, so make sure you are comfortable with the amount of the deductible, and the amount is something you can carry without stretching yourself too thin financially.