Insurance Basics: Personal Insurance
Illuminating articles and ideas that will shed more light on all your insurance-related concerns.
Jun 4, 2019 Tornado / Windstorm Coverage and FAQ’s
Orleans tornado, taken from Trim and Watters in Orleans.Photo Credit: Michael Dalrymple With the Ottawa area having just experienced its second tornado event in the past 10 months, the obvious question on everyone’s mind is, “Will my homeowner insurance cover damage to my home, caused by a tornado event?” Am I Covered? Damage to homes caused by hail or wind is generally covered by a standard homeowners insurance policy. This includes damage caused by flying debris or falling branches. This would also generally include damage to your home and its contents when water enters through openings as a result of the wind or hail damage. In certain circumstances, homeowners who are unable to live in their homes because of the insurable damage are entitled to…Read More
Jan 10, 2019 Does the Auto Insurance System in Ontario Need to Change?
This is the question currently being contemplated by the Ontario government. They are inviting drivers and consumers to share their views on how to lower the province’s auto insurance rates, part of a broader initiative on auto insurance reform. I do not intend to give a complete background on the issue or opinions on everything that needs to be fixed, or I would lose all readers by the 100th page! For a very brief background on the issue, visit “Ontario wants to hear from Consumers about How to Lower Auto Rates” and when done reading this document, visit Here to fill out the very brief survey and have your say. I would like to give you my opinion on a…Read More
May 20, 2017 Changes To Ontario’s Accident Benefits Coverage
Your Auto Insurance Benefits are CHANGING June 1, 2016 As of June 1, 2016, the Ontario government has introduced changes to automobile insurance coverage to help make insurance premiums more affordable. The changes only apply to auto insurance policies issued or renewed on/or after June 1, 2016 Every 5 years, the government mandates a review of the auto insurance system. The outcome of this review will result in changes to the coverage that you currently have. At this time, Ontario has the highest level of standard coverage in Canada. These are coverages that you pay for, in your automobile insurance premium. To help stabilize rates, the Ontario government has implemented changes to auto insurance. Several measures are aimed at reducing fraud and abuse within the…Read More
Jun 1, 2016 2016 Ontario Auto Accident Benefit Details
Providing More Choice to Consumers: What You Need to Know About Changes to Auto Insurance in Ontario: The Details The Ontario government is introducing reforms to the auto insurance system, in order to provide consumers more choice over the coverages and price they pay for insurance. These additional accident benefit choices will allow you to customize your policy to suit your needs. These measures are aimed at reducing fraud and abuse of the system, which increase premium. Standard Auto Insurance Policy In Ontario, the Insurance Act determines the standard coverage that consumers must purchase. As a result of the reforms, some of the features under the Standard Auto Insurance Policy have changed. Beginning June 1, 2016, if you are either buying a new auto insurance…Read More
May 21, 2016 2016 Ontario Auto Regulations Accident Benefits Summary
New Choices for Consumers…Read More
May 21, 2016 Introduction to Changes in the Auto Insurance Reform 2016
Due to recent changes to auto insurance in Ontario, it’s the perfect time to reassess the policy you haven’t thought about in years. Your insurance company will be sending you an update in the mail, and we’re here to follow up with a conversation about your needs. Consumers should consider more than what’s offered in a standard insurance policy. There are favourable options depending on your lifestyle. Consider updating your policy if: * You’re a primary caregiver of young children, elderly parents or disabled family members Consider extending your Caregiver Benefit and/or adding a Dependent Care Benefit. * You earn more than $30,000 a year Consider increasing your Income Replacement Benefit to $600, $800 or $1000. * Your auto insurance policy is your only form…Read More
Aug 21, 2013 Tax Savings for Home Improvements
There are many comments, articles, and stories about the temporary Home Renovation Tax Credit (HRTC). The basic explanation is that the federal budget offers a 15 percent non-refundable tax credit for certain renovations costs incurred between January 27th 2009 and February 1, 2010. So, if there are so many comments, articles, and stories about it and I am not an accountant or tax expert… why am I writing about it? The reason is because there are insurance implications. Insurance to Value (ITV) is a “hot button” topic in the industry these days. Many people are underinsured. This happens due to a few reasons. One is because “inflation increases” that are put through annually on insurance policies may not keep up with actual increase in costs.Read More
Jul 22, 2013 Cottage Insurance
Ever wonder why the traffic is backed up every Friday after work? People are heading to their cottages for the weekend. For many cottage owners this is the weekly routine from May until September. Often cottage owners have turned their weekend retreat into their second home, complete with all the amenities and comforts of their city properties. Insurance coverage for these properties can range from a basic fire policy, to complete all risk coverage including replacement cost for building and contents. Does your cottage have year round access? Are you located on an island? How far is the nearest firehall? Are you renting out your property during the season for summer or winter activities? These are some of the factors used to determine if coverage…Read More
Dec 30, 2009 A Guide to Help Prevent Fire Damage
Fire Damage in your home can be costly and emotionally devastating. The damage caused by the flames and smoke can destroy a lifetime of memories in a matter of minutes. Taking steps to prevent such a disaster will help save your belongings, costly repairs to your house and could potentially save lives. This guide will help identify areas of concern around your home and provide tips to help protect you and your family. Take a look at the “Guide to Help Prevent Fire Damage“, brought to you by your independent insurance broker, Rhodes & Williams, and The Economical Insurance Group …Read More
Apr 8, 2009 Rental Car Insurance Coverage: Are you Covered?
If you have rental car coverage on your automobile insurance policy, and you go and rent a U-Haul cargo van or pick-up truck – are you covered? What do you think? This is not an easy question and is misunderstood by most. The safest route is to talk to your insurance broker before assuming anything is covered … that is what we are here for. That being said, here is the basic answer: The rental car coverage on your auto policy is designed for when you rent a personal vehicle, and not for most trucks and vans that you might hire for a move. As a result, there are some exclusions that would apply. Here are the main ones that would apply: The coverage would…Read More