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Frequently Asked Questions

I have to report a claim. What happens now?

If I put in a claim, will my policy be affected? Even if it is not my fault?

Important Information you should be aware of.

What changes do I have to advise my broker about?

Why does my residential premium keep increasing?

  1. 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.
  2. If you have had a claim in the last term, you may have lost the benefit of the no-claims discount.
  3. There may have been a general rate increase due to company claim losses in your territory.

Why has my automobile premium increased?

  1. 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.
  2. If you have had a responsible claim, and do not have the driving record protector, your premium will increase at the next renewal.
  3. There may have been a general rate increase.
  4. 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?

  1. On a new policy, the insurance company will charge an NSF fee and will cancel the policy immediately for non-payment.
  2. 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.
  3. 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?

Who can drive my car?

My friend/neighbour pays a lot less for their insurance. Why is mine more expensive, it’s the same type of home?

What does my credit information have to do with insurance?