Brokers must explain what’s included in homeowners’ policies
September 28, 2021 Brooke SmithHome is where the heart is. But if your clients aren’t passionate about their home insurance policies, it’s your job to help them understand their coverages. While one part of a homeowner’s policy covers the building itself and the belongings…
Home insurance rates dropping but no reprieve for condo owners
July 28, 2021 by Jason ContantPersonal property premiums were a mixed bag in the first quarter of 2021, with insurance for condo owners continuing to rise, but home insurance rates trending down, according to a new report from LowestRates.ca released Tuesday. Year-over-year, home insurance premiums…
How home insurance rates in Canada are trending
June 8, 2021 by Adam MalikHome insurance rates in Alberta today have jumped nearly two-and-a-half times more than what they were 10 years ago, according to an analysis from a rate aggregator. Average home insurance premiums in Alberta have gone from $741 to $1,779 since…
Why Intact predicts sustained hard market in home insurance
June 5, 2020 by Greg MeckbachNatural disasters like the recent Fort McMurray flooding will likely continue driving home insurance rates up, suggests Intact Financial Corp. CEO Charles Brindamour. “Personal property is in a relatively hard market environment with mid to upper single digit rates increases.…
Where the Co-operators is raising home insurance premiums
March 17, 2020 by Greg MeckbachThe Co-operators General Insurance Company reported a double-digit increase in homeowners’ premium growth in 2019, which the Guelph, Ont. insurer attributes to higher average premiums in Ontario and Western Canada. In its annual report released Wednesday, The Co-operators reported net…
Does home insurance cover road rage?
March 2, 2020 by Greg MeckbachIf a client is sued for alleged road rage in Ontario, is coverage for the legal defence the responsibility of the home insurer, auto insurer or both? This question could go to the Supreme Court of Canada if it agrees…
Ottawa’s latest response to calls for government flood insurance
January 27, 2020 by Greg MeckbachIt’s been three years since brokers called for a government backstop for residential flood losses, but Ottawa is not specifically committing to any particular model of government-run insurance for homes at high risk of flood. At the moment it is…
Premier promises to take PST off home insurance
July 9, 2019 by Adam MalikInsurance premiums are taking a starring role in Manitoba’s provincial election. Manitoba Premier Brian Pallister has pledged to drop provincial sales tax from home and renters’ insurance should he be re-elected in this fall’s election. The announcement received positive reviews…
Uber-style platform for expediting appraisals now in Canada
April 16, 2019 by David GambrillAn Uber-style platform to expedite home and auto claims appraisals has made its way into Canada. Offered by WeGoLook, the online and mobile sharing-economy platform provides personalized, onsite data capture for inspections and low-complexity services across the United States. Now…
How brokers can stop a flooded basement
April 16, 2019 by David GambrillA recent study suggests brokers have a golden opportunity to talk to homeowners one-on-one about how to protect homes from basement floods. With the right information and often for less than $500, homeowners can protect themselves from the increasing risks…
Did settling soil or sudden water leak cause this home damage?
September 8, 2018 by Greg MeckbachA disputed home insurance claim could go to trial because the carrier has accessed 22-year-old court records from the claimant’s divorce. In September, 2009, Douglas Cotter noticed the patio along the front of his Penticton, British Columbia home had shifted.…
The exclusion that no longer applies to this home insurance coverage
August 28, 2018 by Greg MeckbachFifteen years after Nova Scotia was hit by Hurricane Juan, a Canadian home insurer is offering storm surge coverage in all four Atlantic Canada provinces. Storm surge is a rise in sea level resulting from atmospheric pressure changes and wind…