FAQ

Homeowners

What information do I need to provide to my insurance agent to get a quotation for my Home insurance?

When asking for a home insurance quote, be prepared to answer some questions about your home and claims history. Having all of this information available beforehand can help you get a quote faster.

Here is some of the information you may need to get a home insurance quote:

  • Home details such as square footage of home and decks, construction type, roof age, etc.
  • Loss payees or Mortgagees
  • If your home is your primary or secondary residence?  Any business run from your home?
  • Details about any home insurance claims you have filed in the past 5 years and previous insurance company and policy number
  • The age of your home the age and type of electrical, plumbing and heating and when they were last updated
  • Any auxiliary heat sources?  If so, is it CSA, ULC or Warnock Hersey approved, and was it professionally installed?

Having this information handy can help speed along the quote process. Plus, the more accurate the information you provide, the more accurate your quote.

Why do I need a Home inventory?

A home inventory may not seem like a high priority on your list of things to keep up with as a homeowner.  However, in the event that your home was destroyed in a fire or other peril, this list will be one of your greatest assets.

A home inventory is a detailed list of all of your home contents.  In the event that disaster strikes your home, this list will help you remember all of your personal belongings so that you can report your entire loss to your Insurance company.  Contents coverage (coverage C) is the portion of a homeowners insurance policy that provides coverage for the items inside of your home.

Click here to complete your own home inventory checklist.

What is Homeowners Insurance?

Homeowners insurance is an insurance policy that indemnifies you financially in the event that your home and property is damaged in a covered peril or in the event of a covered lawsuit.

Perils that are typically covered by a standard home insurance policy include fire, wind lightning hail and theft.  while no one plans on losing thier home or possessions to any of these perils, it unfortunately happens every day.  Ask yourself this: if my home was ever destroyed in a fire, for example, how would I pay to rebuild it?  That is where your Homeowners insurance comes in.

How can I save money on my home insurance?

Your home insurance policy should always be enough to cover the replacement cost of your home and its contents but shouldn't exceed that amount. Review your policy annually to make sure you are not over-insuring or under-insuring your home.

Your deductible is the amount of money you must pay towards a claim before your home insurance company starts paying. Find out what deductible you are comfortable with and keep your deductible as high as possible. Making your deductible higher will lower your premium.

Business

Why does the company I am subcontracting to want to be added as an additional insured?

Often companies you work for will want to be added as an additional insured on your liability policy.  This extends your policy to cover them only in respect to the operations you have agreed to perform on their behalf.

What is Business Interruption Insurance?

Business Interruption insurance covers the financial loss sustained in the event of a an insured loss.

What is the Insurance company looking for in a Commercial Kitchen System?

Insurance companies want to confirm commercial kitchen systems are inspected and cleaned regularly.  suppression systems must be UL300 compliant.  They also want to make sure every commercial kitchen has at least one fire extinguisher.  common extinguisher types are ABC and K.

What does Equipment Break Down Insurance (EBI) cover?

EBI insurance covers breakdown of office equipment, heating & cooling units including boilers, productions equipment and much more.  Equipment breakdown is not covered by most standard insurance policies.

I have a home based business, do I need separate insurance for this?

Most homeowners policies can be endorsed to provide coverage for your business.  If your business does not fit into your home insurers home based business program, we will be able to design a business insurance policy for you.

Travel-Medical

Will I have to pay for any emergency expenses out of my pocket?

Generally, no.  If you need to be hospitalized, expenses can add up quickly.  By phoning the emergency contact number, payments can be coordinated between the hospital and the insurance company.  That is why it is so important to call the number on your card, as soon as you are able to.  For small claims, reimbursement is often an option.

Should I buy an Annual Plan or a Single Trip Policy?

If you take 2-3 trips outside of BC during the year, the annual plan can quickly pay for itself.  And it is so convenient!  You wake up on a Sunday morning and decide to go for a drive into the states..no worries, your travel medical policy is all ready packed!  We will discuss your needs and find the perfect policy for you.

I have pre-existing health conditions, will my travel-medical insurance policy cover them?

We have special medical policies that can offer coverage for your pre-existing medical conditions.  Many policies don't cover previous conditions but we want to ensure you travel with peace of mind, knowing your conditions are covered.

I'm healthy...do I need travel insurance?

Even healthy travelers need Travel Medical coverage!  Travel insurance is not just for people with health problems.  It's designed to cover unexpected illnesses, injuries or accidents while you are outside of your province of residence.

Auto Insurance

I dont really understand what my coverages mean, but I'm embarrassed to ask a stupid question...What exactly does liability coverage give me?

First of all, there are no stupid questions when it comes to insurance.  Feel free to ask whatever, whenever.  Every vehicle in BC must have Basic Autoplan insurance. Basic Autoplan provides you with 5 main types of coverage:  Third Party Liability coverage which provides you with protection if you cause injury to someone or property damage to someone else's property;  Accident Benefits to help you with medical costs and wage loss; Underinsured Motorist Protection up to $1 million; protection for Hit and Run; and Inverse Liability.  With claims in excess of $3 million, increased liability is a great coverage for most drivers!

I owe ICBC money. How do I pay this debt?

Payments can be accepted in our office.  Just come in with your drivers license and insurance papers if applicable and we can take care of your payment.  Payments usually have to be paid by cash, Visa, Master card, American Express or Certified cheque.

My daughter will be going to school in Lethbridge in September. Does she have to change her insurance?

Great question!  Yes, anytime you change how or where your vehicle will be used, it is important to stop into one of our offices so that we can update your information.  Students going to school out of province must make a change to their insurance otherwise they could be in breach of their policy with ICBC in the event of a claim.

I have just moved here from Alberta. How do I switch over my vehicle insurance?

Welcome to BC!  We can look after your registration and insurance all in one visit!  In most cases you have 30 days to switch your insurance to BC, but sometimes it is sooner.  You may need Claims History Letters from your previous Insurance company, A BC vehicle inspection, primary identification and some other requirements.  For exact requirements, give us a call or visit one of our East Kootenay locations.

Claims

I am having difficulty with my claim, and don't think things are progressing as they should. What should I do?

Contact your insurance broker and let them know.  Tell your broker everything that you feel needs to be addressed as soon as you feel there is any confusion.  Your insurance broker is your liaison to your insurance company and can also help with any issues you may have with your insurance adjuster.  Your insurance broker is there to help guide you through the claims process, explaining anything you don't understand.  And if he or she can't explain it, they can certainly gather the information in a timely manner.  No question is too small, it is important for you to understand the entire process.

I have a claim! Now what?

At the first sign of a claim, contact your broker immediately.  We have valuable information regarding your insurance policy and how it relates to your claim as well as contact information for numerous trades to begin the necessary repairs.  If you require immediate assistance and it is after our regular office hours, please refer to your policy documentation for emergency telephone numbers to assist you.

I think I may have a claim but dont want to jeopardize my insurance premiums. Can I contact someone to ask questions about putting in a claim without actually claiming or risking my insurance premium increasing?

Yes.  It's best to talk to one of our insurance experts about the possible claim, and the benefits as well as drawbacks of putting in a claim.  We will have valuable information about he potential claim as well as any additional costs that may be associated with your loss.

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