Keyword
homeowner
Why your clients could expect price reductions in home insurance
May 25, 2021 by Greg MeckbachIf insurers can achieve combined ratios of less than 80% in personal property, homeowners should expect to see lower prices and possibly even rebates, the CEO of LowestRates.ca suggests. “For consumers, if insurance companies are making money, then it means…
What to tell clients when home insurer asks if property was previously a grow-op
March 18, 2021 by Greg MeckbachHome insurance clients who move to a new property should have the premises inspected and let the insurer know if there are signs it has been used to grow cannabis. “If a home was a former cannabis grow-op, likely pipes…
The perils of highlighting key points in a policy
February 22, 2021 by Greg MeckbachHome insurance policies may be so long that consumers won’t read the entire thing, but it doesn’t mean that brokers should selectively highlight certain policy terms to clients, a brokerage leader warns. “For us, there are things we need to…
This kind of homeowner’s liability claim has real teeth
January 21, 2021 by Greg MeckbachWhen a dog bites man, the wounds could be deep and wide for homeowners. “Pet bites top the list for home insurance liability claims,” reports Dorchester Insurance Brokers Ltd., based near London in the community of Dorchester, Ont. “Dog bites…
Why these home buyers won a $100,000 lawsuit
September 8, 2020 by Greg MeckbachA recent Ontario court ruling arising from a major structural defect in a cottage country home shows why a homeowner should get the vendor to complete a seller property information sheet (SPIS) before agreeing to a purchase. “The law can…
Tenant shares liability for attack on visitor by homeowner’s dog
March 19, 2020 by Greg MeckbachA Calgary homeowner and her tenant are on the hook for more than $20,000 after a waste removal contractor was attacked on the property by a dog. In Malig v. Kaur, released Mar. 16, the Alberta Court of Appeal ruled…
Oil spill case resolved after party that was not at fault paid for the clean-up
April 5, 2018 by Greg MeckbachA homeowner whose insurance did not cover the full cost of cleaning up his furnace oil spill was recently awarded $473,000 in legal costs after he sued the fuel company. The December 2008 incident, in which hundreds litres of oil…
When security goes too far
January 29, 2018 The Canadian PressSYDNEY, N.S. – A Nova Scotia judge says it’s not the court’s place to enforce good manners, in ruling on a case that pitted a homeowner’s interests in monitoring her property against her neighbour’s privacy concerns. Provincial court Judge Peter…
Traditional homeowners’ insurance on a collision course with the sharing economy
November 3, 2017 Laura L. Emmett and Kaitlyn E. ArmstrongThe Rise of the Sharing Economy Consumers are increasingly interested in leasing and sharing products rather than buying and owning them. The aptly named “sharing economy” is growing rapidly, fueled in part by social media, which facilitates communication between peers…
80% of polled Canadians not properly insuring belongings when moving to new homes
August 16, 2017 by Canadian UnderwriterEight of 10 Canadians taking part in a survey from Square One Insurance Services Inc. report not properly insuring their belongings while moving to their new homes. With more than 300,000 Canadians moving to new homes in different provinces each…
Close to Home
July 28, 2017 Robert Lajdziak, Insurance Business Consultant, Insurance Practice; and Valerie Monet Senior Director, Insurance Practice, J.D. PowerThe lack of policy coverage understanding by consumers represents a major threat to home insurers’ reputations. Educating consumers now, in advance of damaging perils like flooding, could
encourage policyholder understanding and discourage dissatisfaction with insurers should such an event occur.
Canadians evacuated from homes after a wildfire can expect to suffer $11,300 in financial losses: Square One Insurance
July 6, 2017 by Canadian UnderwriterCanadians evacuated from their homes because of wildfires can expect to suffer an average of $11,300 in financial losses, a recent study from Square One Insurance Services Inc. has found. Those with home insurance can recover most, but not all,…