Nova Scotia Court awards for personal injury are climbing all the time. You don’t want to be in a situation when you have a car or home accident where the court awards a payment higher than what your insurance policy will pay. If this happens, you may be required to make up the difference.

Each individual situation is different. Depending on the age and driving record of each driver, there may be no charge for a second driver, or additional charges could apply. The best advice is to contact your broker to find out what effect an additional driver would have to your policy.

If you are renting a vehicle, make sure you talk to your insurance broker in advance. Your policy can be extended to provide coverage based on your own unique needs.

While a comprehensive claim will not affect your driving record, it could affect your premium. Two or more comprehensive claims in a short span of time will likely affect your rate. Or, your insurance company might ask you for a higher deductible, not offer this coverage, or cancel your insurance coverage/policy altogether if you’ve had a number of comprehensive claims. Examples of comprehensive claims are theft, vandalism to your vehicle, or glass damage due to a pebble coming up from the pavement.

While the government doesn’t require you to purchase home insurance, your mortgage-holder probably will – at least enough to cover its share of ownership. There are various kinds of home insurance that cover general and specific kinds of damage to your home, and you should research your options carefully. You can also buy specialized insurance to cover a condominium, home business, or other kind of property or valuables found in your home.

Home insurance also includes liability coverage for people who are hurt on your property.

A deductible is your share of the amount that needs to be paid to cover the repair or replacement of your covered property (vehicle, home, or other property) before your insurance pays the rest.

Your premiums may be affected at the next renewal. You may qualify for “forgiveness” of your first accident, and experience little or no increase in premium. Or, it could take six years before you are back at the best driving record and “the best rates.” Contact your insurance broker to find out how a claim would affect your premium.

The rules of the province where you have the accident will prevail. If you live in a province that allows you to sue an “at fault” driver but the accident happens in a “no fault” province, you will have to look at your own policy for any payment.

Each credit card offers different coverages and limits. You need to read the small print very carefully, there may be limitations. Depend on your insurance broker not on your credit card.

We would say ‘yes’, because a five year old car has more value than the amount of your insurance premium. But it is up to you.

Technically, anyone to whom you give permission is allowed to drive your car. This is because your insurance is attached to your car, regardless who is behind the wheel. But, if a driver you’ve authorized gets into an accident with your car it is your driving record that is affected. In Nova Scotia, all licensed vehicle owners must carry liability insurance. Liability coverage is extended to any person who holds a valid license and drives your car with your consent. Insurance companies want to know if there is anyone else besides you who drives your car on a regular basis.

The reason that insurers include “all licensed individuals in the household” as part of their premium calculations is that they are not allowed to refuse to settle a claim with your car. Some insurers, however, will allow you to sign a document stating that if your son has an accident with your car that you will reimburse the company if it pays out a claim. The best thing to do is ask your broker.

Not always. With many parking lots having roadways marked by specific lines of travel, the usual road rules may apply. Thus, when assessing fault, adjusters will look at the damage of the cars and how and why the collision occurred.

Drive safely. Think about carrying a higher deductible. Keep your car and your property in good and safe repair.

Only about 15% of your premium relates to the age of your vehicle. The remainder of your premium is affected by the same factors pushing rates up for all vehicles regardless of age.

If your vehicle was written off, it must have been badly damaged. There is always a worry that the repair job wasn’t adequate. Nevertheless, many companies will insure them but will require certification that it has been professionally rebuilt at an accredited shop and then independently inspected at an approved inspection facility.

Your policy may be cancelled. Once cancelled for any reason, it may be difficult to get another policy.

Generally speaking, your insurance coverage continues while you are on vacation, but the length of time you are away and the steps you take to protect your home while you are away, can impact whether a loss is covered. If you are planning to be away for more than a couple of days, it is recommended that you contact your insurance broker to determine what action you must take to protect your home from loss and ensure a claim is not denied. This is most critical during colder months. For example, there is no coverage for damage caused by freezing of any part of a plumbing, heating or domestic water container unless you had arranged for a competent person to enter the dwelling on a daily basis.

Most likely he will be covered, as long as he is a dependent and is temporarily living outside your house. Speak to us to find out what the limit of insurance is on any personal property he will take with him.

Yes. Your personal liability coverage protects you when you are legally responsible for bodily injury or property damage to someone else.

The liability coverage of your Tenant policy would pay for the cleanup costs, debris removal and damages to the building, and for the damaged property belonging to your neighbour.

No, this loss is not covered. Any items illegally kept or acquired, or not declared at Customs, are not covered by any policy.

Your policy does include coverage for temporary accommodations like a motel room and any other increased living expenses.Your broker will advise you of the claims process and work with the insurer to get your life back to normal as quickly as possible.

Property is deemed to be vacant when the occupants have moved with no intention of returning regardless whether they left personal property behind. Insurance will not cover vacant property. Property is deemed unoccupied when there is an intention to return to it. Insurance will cover it.

Inspections are made to ensure there are no fire or liability hazards. Inspectors pay specific attention to roofs, plumbing, wiring, and whether there is a wood stove on the premises.

Your oil tank isn’t causing problems for insurance; but one day it might cause problems for the environment. The cost of oil spill cleanup from leaking or bursting home oil tanks has risen dramatically in recent years. The average cost is now about $65,000, with many coming in between $100,000 and $200,000 as environmental clean-up must take place. Remember, your insurance might not pay for the cost of a spill on your property, only the neighbouring property. In the absence of tough provincial legislation requiring oil tank inspection and replacement, it is up to you to inspect your tank regularly for leaks and to replace it in a timely manner. Call your home oil company to find out how to inspect your tank properly. And always call your broker to find out exactly what your policy covers.

Your home assessment is for tax purposes and it roughly equates to the value of your home if you sold it on the open market. For insurance purposes, you have to ensure it up to its replacement value which is the cost of having to rebuild it at today’s prices for building materials and labour. This is almost always more.

There are a number of things you can do:

1. Examine all your deductibles. Determine your ability to assume smaller losses.
2. Lower liability risk by ensuring safe visitor and workplace conditions.
3. Whether you run a single vehicle or a fleet, you could choose not to insure collision on vehicles that are older.
4. Consider adding safety measures such as automated alarm systems, lighting, etc.
5. Ask your broker to arrange a complete loss prevention survey to identify possible hazards and offer solutions to reduce exposures from injuries and fire to fraud and theft.

Most brokers provide business insurance. We have years of experience and are professionals that people rely on to protect their assets. The designations your broker holds, such as CCIB (Canadian Certified Insurance Broker), CAIB (Canadian Accredited Insurance Broker), and CPIB (Canadian Professional Insurance Broker) are an excellent indicator of their professionalism.