Oct 27, 2022 Property Values and Your Home Insurance:  How Do You Get it Right?

We continue to realize the impacts of a record-level real estate market.  Homeowners do not need to look very far to read signs that their home re-sell value might be at its highest level ever. With inflation reaching a level not seen in years, a pandemic that has triggered sky-rocketing material costs and labour shortages in most industries, the average home has undergone sizable increases in property values and the cost to rebuild has left customers at risk of being underinsured on their home insurance.   Before you renew your home insurance, let’s take a look at a few of the most common things to consider when it comes to your home and covering it for its proper rebuilding value.  What is my home insured for…

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Sep 20, 2022 Auto Supply Chain Challenges

When the COVID-19 epidemic was at its worst and borders were blocked and businesses were closed, the auto sector was badly hit by supply chain disruptions. Supply chain concerns make it challenging to replace items that have been stolen. A temporary set of wheels may be difficult to locate in the meantime due to rental car constraints and labour limitations that make it challenging to get the required repairs. The cycle continues as car theft becomes more profitable as vehicle prices rise and supply declines. There are various factors creating this perfect storm: Russia-Ukraine conflicts: There is a shortage of semi-conductors. Neon gas is necessary for the creation of semiconductors, and Ukraine produces more than half of the world’s semiconductor-grade neon. The conflict between Russia…

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Aug 30, 2022 Are you considering a private lender for your new mortgage?

What is a private lender? A private lender is a person or business that loans money to someone but is not connected to a financial institution such as a bank, credit union or financing company. Private lenders can be a relative, a friend or colleague, or someone you do not even know, as well as an investment corporation. Why would you choose to use a private lender? Private lending is becoming more popular lately due to the high demands on our real estate and finance markets. Due to the new mortgage approval requirements, it may be more difficult for home buyers to secure financing with a traditional lender or bank. Did you know that having a private lender could affect your ability to obtain…

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Jul 28, 2022 Cottage Insurance for Beginners

As we are in the midst of cottage season, getting away from the big city for a quiet getaway is a great time but insurance is likely the last thing on your mind. Although it helps to review your cottage insurance in the off-season when you have more handy time, below is a beginner’s guide to cottage insurance. What is cottage insurance?    Cottage insurance is a policy that covers your seasonal dwelling. Like all other insurance policies, it is customized to meet your needs.  What are the different types of cottages that can be insured? A 2 or 3 season cottage – It is only used part of the year (typically not during the winter months)A 4-season cottage – Used all year-round with…

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Jun 21, 2022 Turo Peer to Peer Car Sharing

Earlier this year it was announced that Economical Insurance is providing Turo with commercial insurance in Ontario for the peer-to-peer car sharing giant.  Previously, it was underwritten by intact insurance in Ontario, but Economical has recently taken over the Commercial Policy during the reservation periods and delivery periods of Turo.   What is Turo? Turo is a peer-to-peer car rental service that gives car owners (Hosts) the ability to rent their cars out by listing them on the Turo website to pre-qualified Turo renters (Guests). It is no cost to join, and car Hosts can choose who rents their vehicle and when. What is the benefit? For car Hosts, an easy way to make a little extra cash by renting your car out to Guests…

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Jun 14, 2022 15th Annual Marsha Morton Golf Tournament in Support of Cystic Fibrosis

The 15th Annual Marsha Morton Memorial Golf Tournament will be held at Pineview Golf Course on Friday, August 19, 2022. This tournament is presented by The Kin Club of Orleans and District and Rhodes & Williams Limited in support of Cystic Fibrosis Canada. The 2020 and 2021 tournaments were cancelled due to the COVID-19 pandemic. The tournament is named in honour of Marsha Morton, a Canadian Cystic Fibrosis poster child and daughter of Ken & Karen Morton, members of the Kin Club of Orleans and District. Marsha succumbed to CF at the age of 12 in 1988. For more information on how to get involved, please visit the Kin Club of Orleans and District page. 2022 will mark the 15th time for this…

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May 23, 2022 Ontario Storm- May 2022

Captured: Merivale Plaza, Ottawa, ON. We are aware of the terrible damage caused by the storm across the city and Province.  With wide spread damage and our own power being affected, our phone system is down.  Insurance companies are also doing their best to keep up with the demand but phone lines are certainly backed up due to the number of people sustaining damage.   If you have serious damage to your property, your best course of action at this point is to consult our Claims page for information at https://www.rhodeswilliams.com/claims/ and consulting the “after-hours section” .  Here you will find options for contacting your insurance company directly, or our after hours claims line.  Take pictures of any and all damage and take…

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Apr 20, 2022 What is more important- Cost or Coverage?

When you are looking at your auto and property insurance policies, what is more important to you- the cost of the policy, or the coverage that is included? Many different factors affect the calculation of your insurance cost in today’s world. Having a full understanding of the policy coverage that you have will provide the true value of your insurance protection. If you have questions about your coverage, you should set up a time to discuss the details with your Rhodes & Williams insurance broker. Setting up a phone appointment allows both parties to set aside a specific time to dedicate their attention and focus to the conversation. We are always happy to educate our clients on the variables that affect the cost of their…

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Apr 13, 2022 RENTED DWELLING INSURANCE FOR ABSENTEE LANDLORDS

Have you been posted overseas for work? Are you having trouble finding insurance for your home while you are out of the country? Rhodes & Williams can help with your insurance! R&W has an exclusive agreement with a Canadian owned insurance company to insure rented dwellings while owners of the home are posted overseas for a period of time. We can insure single-family homes in Ontario with some conditions: Managed by professional property managers, while you are out of the countryResidences must be checked inside and out twice annually by the property managers.Tenants in the home must have their own Renters insurance in place.Vacant dwellings waiting for tenants to move in are also eligible. Do you have an older home? Older dwellings will qualify…

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Feb 16, 2022 Gap Insurance vs Waiver of Depreciation

What is Gap Insurance? Gap Insurance is coverage that is typically offered by dealerships.  It helps pay off the financing loan for your vehicle in the event that your insurance claim is considered a total loss. It can only be applied if there is a total loss and you owe more than the depreciated value as assessed by your insurance company. It will pay the difference between what is still owed and what the depreciated value is at the time of the loss.    What is a Waiver of Depreciation? Waiver of Depreciation is an endorsement offered by insurance companies that provides coverage if your vehicle is considered a total loss. The coverage is primarily available for new vehicles at the time of purchase…

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