Glossary of common insurance terms
GAP Insurance covers the difference between the Market Value (actual cash value) of a vehicle and the balance still owed on the financing (car loan, lease, etc.) When you purchase/lease a car, the depreciation in value happens quickly in the…
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Should I buy the extra insurance from the rental company? It’s a tough call, considering the fact that you may already have the coverage through your Personal Auto Policy. With most insurance companies, damages to rental cars are covered…
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Water losses can be some of the most frustrating types of claims. In the insurance industry, there are 3 types of water losses: Water Damage, Water Back-up and Flood. Water Damage – damage caused by a faulty or malfunctioning part…
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Schedule your Smart TVs, Laptops, PCs & Tablets – No Deductible – Broader than your Contents coverage (includes breakage, power surge and even spills) – Losses to scheduled items don’t affect your Homeowner, Condo or Tenant policy renewal rates –…
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“Why does my Homeowner coverage keep increasing when the market value doesn’t?” is a common question. Market Value Market value is what your home/building and land would sell for in the real estate market. Your selling price could be determined…
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Teenage Drivers, Swimming Pools, Trampolines, Investment Properties, Vacation Homes, Dogs & Other Animals, Hunting/Shooting and other activities are all good reasons to consider a Personal Umbrella policy. The Personal Umbrella policy provides liability limits in excess of those contained in your primary…
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