The building or content limit is automatically indexed every renewal to ensure that the reconstruction cost (how much it will cost to rebuild your home) or replacement cost is maintained. Premiums are based on the building/contents limit. Reconstruction
costs are independent from real estate and municipal evaluation amounts.
If you have had a claim in the last term, you may have lost the benefit of the no-claims discount.
There may have been a general rate increase due to company claim losses in your territory.
Why has my automobile premium increased?
You may have the replacement cost endorsement. As the depreciation increases, the amount the insurance pays out is more; therefore the premium increases each year.
If you have had a responsible claim, and do not have the driving record protector, your premium will increase at the next renewal.
There may have been a general rate increase.
For older models, the scarcity of parts may increase the costs of a claim, which would be reflected in the premium.
I have had an NSF &/or cancellation for non-payment. How does this affect me?
On a new policy, the insurance company will charge an NSF fee and will cancel the policy immediately for non-payment.
On a renewal, the insurance company will charge an NSF fee on the next payment. If there is a second NSF, they will immediately cancel the policy for non-payment.
If a policy has been cancelled for non-payment, the regular markets will not insure you. We will attempt to find a submarket for you.
The insurance company wants to inspect my home. Do I have to accept?
Yes, the insurance company has the right to inspect your property. Most often they inspect due to high values on the home, if there is any auxiliary heating, if there are any unusual features or following a claim. If there are any issues found, you
will be given a delay in which any recommendations will need to be completed.
Who can drive my car?
Any licensed driver, who has not been specifically excluded (QEF28), may drive your car. Any licensed driver who resides with you, who does not have their own insurance, must be mentioned as a driver on your policy. Any accident/claim that occurs
due to this other driver will be adjusted under your policy as primary. If the other driver has their own insurance, it would respond as secondary
My friend/neighbour pays a lot less for their insurance. Why is mine more expensive, it’s the same type of home?
There are many factors involved in rating and insurance companies are now using individualized rating based according to you personally. Some of the factors taken into account are your age, your occupation, employer and schooling, claim history, your
credit rating, the amount of insurance required, the type of policy and the deductible, the postal code and whether you insure both your home and auto at the same company.
What does my credit information have to do with insurance?
Insurance studies have shown that an individual’s credit score is an accurate indicator of probability of future claims. Individuals with higher credit scores have significantly lower claim rates. Consulting your credit by an insurance company does
not affect your credit score. It is your choice to give consent or not, however this is taken into account with the premium offer.