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Homeowners

Happy 150th Birthday Canada.

Thu, 29th June, 2017 - Posted by - Comments Off on Happy 150th Birthday Canada.

Happy Canada Day, 150 Years Strong.
Please be advised Expo Insurance Brokers will be closed on Monday July 3 2017 in celebration of Canada Day. Wishing You and your Family our Very Best wishes on this Canada Day.
Special shout out to members of the Canadian Armed Forces serving over seas on this holiday weekend and their families here at home all across Canada. Thanks for your continued service !
For a claims Emergency please call your Insurance company Direct 24/7.
Intact Ins Co / Novex Insurance Co / Jevco – 1-866-464-2424
RSA – 1-800-319-9993
Economical / Perth Ins Co. – 1800- 607-2424
Aviva – 1-866-692-8482
Gore Mutual Ins Co. 1-800- 265-8600
Category : Auto Insurance / Community / Education / EXPO Insurance / Expo Insurance staff / Home Insurance / Homeowners

Water Damage Checklist from Intact Ins Co of Canada.

Mon, 20th January, 2014 - Posted by - Comments Off on Water Damage Checklist from Intact Ins Co of Canada.

WATER DAMAGE CHECKLIST (by Intact Insurance Co)

Water damage has now surpassed fire as Canada’s leading cause of personal property claims. Examples of water damage include flooding, sewer backup, broken pipes, leaky plumbing, and more. To help avoid water damage in your home, take a few simple precautions to decrease the chances of it happening to you.

INSIDE YOUR HOME
• Buy or increase your sewer backup coverage as needed
• Install a sewer backup prevention valve on the main line of your home
• Install water monitors that alert you if a leak occurs and shut off the main water supply if moisture is detected
• Inspect all plumbing for signs of cracks or leaks, and replace older plumbing
• Inspect older appliances, particularly washing machine and dishwasher hoses, and replace them with steel braided hoses.
• On appliances and/or plumbing fixtures, replace old and worn rubber hoses with flexible steel-braided hoses
• Avoid pouring fats, oils and grease down household drains
• Check water supply lines regularly for leaks and loose connections
• Check caulk and grout around bathtubs and showers and retouch as necessary
• Reduce home water use during heavy rainfall and rapid thaw to reduce pressure on sewage systems and potential for water back-up.

Talk to your insurance broker to review your policy and learn what coverage exists in regards to water damage

OUTSIDE YOUR HOME
• Before the winter, drain all pipes and garden hoses
• Keep storm sewer grates clear of leaves and debris
• Disconnect downspouts draining directly into the sewer system and redirect them at least 6 feet away from your home’s foundation; test downspouts to ensure proper drainage from the roof
• Ensure your lot is graded to aid drainage away from your home
• Make considerations for reverse-sloped driveways
• Ensure there is at least 200 mm (8 in) clearance between finished ground level and the bottom of the downspout; otherwise consider installing window wells
• Ensure waste water lines are not blocked by tree roots
• Ensure you roof doesn’t have loose or curled shingles
• If you have a septic system, have it pumped and serviced regularly

FOUNDATIONS AND BASEMENTS

Your home’s foundation and basement are areas where significant, and often expensive, damage can occur. The origin of leaks is often traced to the foundation. Minor cracks in the foundation are not normally cause for concern; however, major cracks can represent substantial movement and can allow water to seep into your basement. Filling in foundation cracks and stopping them from spreading helps to prevent water damage and serious structural issues. To diminish risks of water damage in your basement:
• Find and seal any cracks in foundation walls and basement floor
• Avoid storing items directly on the basement floor (store items in plastic storage containers on raised shelving)
• Be sure to keep floor drains unobstructed
• Always check your basement for leaks after heavy rainfall or a rapid thaw

SUMP PUMPS AND BACKWATER VALVES

A sump pump is a common and effective basement water collection system. Sump pumps collect water from the weeping tiles around basements and send it outside, away from your home. The sump pump is activated by a float switch that turns on when the water in the sump rises past a certain level.

To ensure your sump pump is in good working order, check the float to ensure it’s clean and moving freely by slowly pouring water into the sump tank. Watch for the float to rise and start the pump. Once the pump starts, the water level will quickly lower and the float will shut off the pump.

Backwater valves installed on the main water line of a home are an effective way of preventing sewer back-up. Many municipalities amended their building codes to ensure that backwater valves are installed in all newly constructed homes.

Category : Community / Education / EXPO Insurance / Home Insurance / Homeowners

How Home Insurance Premiums are Calculated by Intact Ins Co.

Wed, 11th December, 2013 - Posted by - Comments Off on How Home Insurance Premiums are Calculated by Intact Ins Co.

HOW HOME INSURANCE PREMIUMS ARE CALCULATED

Insurance involves the pooling of funds from many customers to pay for the losses that some customers may incur. The premium that is determined is based on the likelihood of how frequently events may happen.

At Intact Insurance we take a unique approach to determining what your home insurance will cost. We look at all your needs and your lifestyle and determine a price based on your property, contents and personal experience that is specific to you. We consider many variables that differentiate you from any other homeowner.

HOW PREMIUM DOLLARS ARE USED

When insurance companies collect premiums, that money is used to pay for claims, government taxes, and to cover costs related to operating a business. Insurance companies also set aside a large amount of this money, called a reserve, in order to respond quickly should a catastrophe occur, which would result in a large number of claims in a short period of time.

The remaining money that is not needed on a daily basis is invested by insurers. Investing the money is necessary because it allows insurance companies to offset the large costs of claims by making a return, and the insurance industry has always generated positive investment returns (IBC).

PREMIUMS AND DEDUCTIBLES

Most insurance policies have a deductible; deductibles are the portion you agree to pay when you need to make a claim. It is then deducted from the amount of your claim that your insurance company pays. Therefore, it is your part of the cost of a claim.

You can reduce the amount of your premium by increasing your deductible amount. But it is essential to weigh your options carefully when choosing a deductible amount. Talk to your insurance broker about the deductible level that is right for you.

Where your premium payments go

FACTORS CONSIDERED IN DETERMINING YOUR HOME INSURANCE PREMIUM

Some of the factors we consider when calculating your premium:
• Where you live – Some locations have a higher risk of crime, burglary, sewer back-up and weather related events, resulting in a higher premium.
• How close you are to fire fighting support – Urban areas are closer to fire fighting support, generally resulting in a lower premium.
• How much protection you require – If you need or want more insurance protection for your home and property, then your premium will be higher than someone who needs or wants less protection.
• The age of your home and the home’s condition – Property rates are generally lower for newer homes because the plumbing, wiring and roofs generally have fewer problems, which means fewer claims.
• If you live or work in the home – Empty or unoccupied properties are more prone to vandalism and theft. Also, running a business or having tenants results in a higher premium due to additional items in the home.
• How many claims you have made – The greater number of years claim free, the greater the reduction in your premiums.
• How long you have lived at your current address – Statistics show that customers who have lived in the same residence for longer periods of time make fewer claims. This can contribute to a lower premium.
• Maturity – As you age, your premium amount will typically decrease.
• Loss prevention – Investing in devices to protect against burglary, fire and water damage can lower your insurance costs either directly via a discount or by preventing and minimizing losses, which results in fewer claims.
• If you own your home outright – If you own your home completely without any mortgages, you’ll have more money to maintain your home, resulting in fewer claims. This can be a factor resulting in a lower premium.
• How your home is heated – Homes that use oil as their primary heat source and wood for secondary heat source tend to have more fire claims and will therefore increase your insurance premium.
• If your home is built for or used by multiple families – If your home has more than one self-contained living unit, or you share your property with unrelated individuals, it may be considered a multi-family dwelling. In these instances, there are more items that need to be covered by insurance and more opportunities for larger claims.

WAYS TO REDUCE YOUR HOME INSURANCE PREMIUM

Many factors act together to determine the premium you pay. Below are actions you can take to better protect you and your home, and reduce your premium.
• Evaluate your coverage needs each year: Your homeowner’s insurance coverage should accurately reflect your home’s current value and condition, as well as any major improvements or purchases.
• Implement fire, theft and water damage preventative measures: These include but are not limited to: installing alarm systems, water sensors, main line back-water valves, alarmed sump pumps, and tankless water heaters, as well as performing regular maintenance to your electrical, plumbing, heating and roof.
• Ask about discounts you may be eligible for: Talk to your broker to find out if you qualify for any additional discounts such as those for being mortgage or claims free.
• Bundle: Consider buying homeowners and automobile insurance coverage from the same company.
• Don’t switch insurance companies before the end of your policy term: If you wait until your policy is renewing, you may avoid a cancellation penalty.
• Use your good credit: Where permitted, allowing your broker to soft check your credit can result in preferred pricing. Intact Insurance will only use this information to help determine your premium; we will never raise your rates or cancel your policy because of it.
• How much coverage is enough? Work with your broker to determine exactly what level of coverage you need for coverage options that might have some flexibility such as how much you are covered for sewer back up coverage.
• Pay your premium annually to avoid any service fees or interest charges.

Category : Education / Home Insurance / Homeowners

I’d rather be Fishing…

Sat, 9th June, 2012 - Posted by - Comments Off on I’d rather be Fishing…

Category : EXPO Insurance / Home Insurance / Homeowners

Understanding Key Home Insurance Terms

Mon, 5th October, 2009 - Posted by - Comments Off on Understanding Key Home Insurance Terms

Limits, deductibles, amount of insurance… what does it all mean? Why don’t insurance companies speak in a language we understand?

We can’t tell you everything there is to know about home insurance in one article, but we can explain a couple of terms to get the conversation rolling with your insurance broker. After all, their job is to help you sort through all the fancy insurance-speak and make sure you are covered.

Deductible refers to the amount you have to pay out of your pocket before your insurance company pays for your claim.

Amount of Insurance refers to the amount your insurance company will pay to replace your “dwelling” (the physical structure of the home and any attached structures such as a garage) and the “contents” or “personal property” (what’s inside your home).

(For Condos, Amount of Insurance refers to your contents and any upgrades or renovations you or the previous owner made to the unit. The Condo building is usually covered by the Condo Corporation’s insurance policy.)

Single Limit refers to the maximum amount of insurance you have available to cover the building (and attached structures), contents, additional living expenses while your home is being repaired, demolition, debris removal, etc.

Replacement Cost refers to the amount the insurance company will pay to cover the cost of replacing your property without deducting for depreciation (the reduction in value because of age/wear).

Did you know that many people are under-insured?

So now that you know the basics, it’s time to put them to use. First, most people know the original cost of their house, but don’t know what it would cost to replace it. Consider that the cost to reconstruct your house will likely cost more than it would to build a new house from scratch (because of the extra care and time needed to ensure that driveways and neighbouring properties are not damaged, building codes may have changed requiring more materials and design, etc.).

Also, if you’re planning to renovate or make any additions, make sure to inform your broker or insurance company to find out if you’ll still be covered. You might need to increase your coverage. Your broker is a great source of information and can help you decide if you have enough insurance.

Second, make a list of the contents of each room of your house noting the value. This can help you figure out if you have enough contents coverage. Also, if you do have a claim the list can help inform your insurance company of the items to be replaced. (Just make sure to store it in a safe place outside your home, like a safety deposit box.)

Finally, don’t wait until you have a claim to find out if you have enough insurance. Some personal items and heirlooms can never be replaced, but for the things that can, talk to your insurance broker and make sure you and your family are covered.

The above article is intended as a guide only. For specific details about your policy or coverage, speak to your insurance representative.

Category : Home Insurance / Homeowners

Need insurance advice? Look no further than your local broker.

Fri, 25th September, 2009 - Posted by - Comments Off on Need insurance advice? Look no further than your local broker.

Insurance can be confusing. With so many insurance companies offering different products and services, how do you know what’s right for you?

That’s where your independent insurance broker comes in. Your broker will do the work for you, collecting and explaining the various options available from different insurance companies. They’re your source of information and advice, someone who will look at the whole picture, identify any gaps in your coverage, put together a plan, and review it with you to make sure your insurance is growing with you.

Insurance brokers know about different products and prices, and can help you choose the right match for you. For example, did you know that you can often save money (and time) by combining your home and auto insurance? Your broker can help you build an insurance package that covers your needs, while providing the convenience of having only one payment and renewal date to think about.

Look around your home. Perhaps you run a small business out of your home. Did you know that your home insurance does not cover your business? An insurance broker can help you identify what type of home-based business coverage works best for you.

Consider other aspects of your lifestyle. Do you travel, own a cottage or require additional personal liability coverage (a must if you car-pool or drive your kid’s friends around)?

But insurance isn’t just about buying a policy. Take into consideration the service you expect to receive, especially after a claim. Your insurance broker can advise you on the different levels of service and guarantees provided by different companies. After all, while you hope you’ll never have a claim, you do buy insurance to protect yourself and your family against one.

So if you need information and advice about insurance, go to the professionals – your independent insurance broker. Your broker will work with you every step of the way.

The above article is a guide only.

Category : Auto Insurance / Education / Homeowners / Small Business

ING Ins Company’s Travel Well Health Insurance Plan

Mon, 1st June, 2009 - Posted by - Comments Off on ING Ins Company’s Travel Well Health Insurance Plan

ING Ins Company’s Travel Well Health Insurance Plan can now be added to your ING Homeowners policy to provide year round Family coverage while travelling out of province or out of Canada. The cost is as little as $7.50 per month. Contact Customer Service for details.

Category : Homeowners / Travel Health Insurance

Don’t be afraid to ask!

When it comes to insurance, there is no question too basic. If there is anything you don’t understand, don’t be afraid to ask us. We are here to help. Contact us today! »

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