Home insurance clients advised to check coverage before renovating

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DAILY NEWS Feb 1, 2013 12:36 PM

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Square One Insurance has issued a cautionary note to home and condo owners undertaking renovations, warning them to verify the liability and workers’ compensation coverage of contractors.

In a press release Friday, Vancouver-based Square One noted even small renovations could affect home insurance coverage. It also gives advice in cases where a contractor’s faulty work causes water damage to the policyholder’s home.

“While your policy won't cover costs to correct faulty design, material or workmanship, it may cover the water damage caused by the contractor,” Square One stated. “To be as protected as possible, make sure the contractor has proper licenses, solid references and both workers' compensation and commercial general liability insurance coverage.”

The company also advises comprehensive home policyholders who do their own renovation work to ensure their policies cover damage they accidentally cause to their own homes, belongings or neighbours’ homes.

“For example, if you live in a condo and you're the one who accidentally puts a screw in a pipe that causes damage to the units beneath you, your personal liability coverage should pay for any resulting damage to your neighbours' property,” Square One says.

Square One added that most policies require owners to notify their insurance providers of any renovation costing more than $5,000.

“If you fail to do so, you will no longer qualify for the ‘guaranteed building replacement cost’ coverage included in most policies.”

Stop paying too much for car insurance

These poor decisions could be costing you hundreds of dollars in extra premiums each year.

By Gail Vaz-Oxlade | Online only, 24/01/13

Tags: auto, auto insurance

 

Sometimes when I look at a body’s budget and I see what they’re paying for car insurance I gasp. The biggest monthly premium I’ve come across was $535 a month. How did the premium get so high? A couple of accidents, a charge of driving with a suspended license and other idiotic moves. 

But you don’t have to be a bad-driver to see your insurance premiums high-step to new levels. A mistake or two, combined with rising rates across the industry, can throw your budget out of balance.

My advice is to trade that expensive, foreign car in for a less-expensive domestic model. Sports cars cost more to insurance because they scream: I’m going to speed. And avoid cars that tend to attract thieves. Years ago my then-husband’s high-end Jeep was stolen right off our parking pad. Several months later they came back and took its replacement. The lesson: no more Jeeps. Two-door Integras are stolen far more often than are four-door CSXs. And Audis are ripped off far more frequently than Buicks. You can check with your insurance broker to see what the “hot” models are so you steer clear of higher premiums.

Increase your deductible. If you take your deductible from $500 to $1,000, and add the difference to your emergency fund, you’ll see a drop in your premiums. And if you eliminate coverage you no longer need–think collision and comprehensive coverage on older models–you’ll save even more.
Stop getting tickets. For each moving violation you get, your premiums inch up, until you hit three when they take a giant leap. Accidents and tickets stay on your driving records for years and ratchet up your rates.

Make sure your loyalty counts. While some companies reward loyal customers with lower premiums, don’t let a loyalty discount stop you from saving money. If you think you may be paying too much for insurance, shop around. If bundling your home insurance with your car insurance will get you a better rate, do it. And if making your kid take a driver’s education course means you won’t have to pony up your second-born, spend the money to save even more.

Toronto Rehabilitation Clinics and Affiliated Individuals Charged with Over 80 Auto Insurance Offences

TORONTO, Jan. 17, 2013 /CNW/ - The Financial Services Commission of Ontario (FSCO) has laid 84 charges under Ontario's Insurance Act against two rehabilitation clinics and four individuals affiliated with these clinics. These clinics and individuals are alleged to have submitted false invoices to auto insurers.

The following clinics were each charged with 7 counts of knowingly making false or misleading statements to an auto insurer to obtain payment for goods and services provided to an insured and 7 counts of engaging in an unfair or deceptive act or practice:

• Fairview Assessment Centre (200 Finch Ave W., Suite 314, Toronto, Ontario, M2R 3W4)
• Pacific Assessment Centre (1120 Finch Ave. W., Suite 607, Toronto, Ontario,    M3J 3H7)

Charges were also laid against the following four individuals affiliated with these clinics:

• Danny Grossi
• Alexandre Lobatch
• Yaniv Tamsout
• Vitali Tourkov

FSCO investigates allegations of misconduct, unfair practices and non-compliance with legislation or regulations in its regulated sectors. When warranted, FSCO takes enforcement action.
FSCO is an agency of the Ministry of Finance established under the Financial Services Commission of Ontario Act, 1997. It regulates insurance, pension plans, loan and trust companies, credit unions and caisses populaires, co-operative corporations and mortgage brokerages and administrators in Ontario.

QUOTE

• When fraudsters falsify accident treatment bills, Ontario drivers take the hit through higher premiums. This, despite the fact that the vast majority of drivers go for years - even decades - without being in an accident or making a claim. FSCO will continue to crack down on those who cheat Ontario drivers by abusing the auto insurance system. - Philip Howell, CEO and Superintendent of FSCO

QUICK FACTS

• In its Final Report, Ontario's Auto Insurance Anti-Fraud Task Force concluded that fraud in the auto insurance system is substantial and has a significant impact on premiums.
• The Task Force's Final Report contains 38 targeted recommendations on four key areas: fraud prevention, detection, investigation and enforcement and regulatory roles and responsibilities.
• Insurers have rights and responsibilities under the Statutory Accident Benefits Schedule (SABS) to challenge questionable or abusive claims, including verifying invoices and expenses.

Top 10 Stolen Cars - 2012

Toronto, ON – December 13, 2012 –Insurance Bureau of Canada (IBC) released today its annual list of the top 10 most frequently stolen vehicles in Canada.  This year there is a new, but returning, hot target for thieves – the 2000 Honda Civic SiR 2DR.  In fact Civics take up the top two places in this year’s list.  Civics have always been high on the list.  It’s a popular vehicle for young people and many of them are stolen and chopped for parts.

The Civic replaces the 2009 Toyota Venza 4-door, which was last year’s number one most frequently stolen vehicle nationally but is the second most stolen vehicle in Quebec.  But more than the change of the top target, investigators are seeing new trends and have more warnings for unsuspecting victims.

 The top 10 most frequently stolen vehicles in Canada are:

1. 2000 HONDA CIVIC SiR 2DR
2. 1999 HONDA CIVIC SiR 2DR 
3. 2006 CHEVROLET TRAILBLAZER SS 4DR 4WD 
4. 2007 FORD F350 SD 4WD PU
5. 2005 CADILLAC ESCALADE 4DR AWD
6. 2006 FORD F350 SD 4WD PU
7. 2002 CADILLAC ESCALADE 4DR 4WD
8. 2005 FORD F350 SD 4WD PU
9. 2004 FORD F350 SD 4WD PU
10. 1999 ACURA INTEGRA 2DR 

Tips for Consumers
Don’t be tricked into buying a stolen vehicle. Consumers should buy used cars from a reputable dealer and run a car history report before making a deal. If buying a used car privately, have it inspected by a trusted mechanic. Also, to avoid having stolen parts put onto your vehicle during repairs, only deal with reputable repair shops. Your insurance company can recommend one.
It’s important to remember that a professional thief can steal your car in about 30 seconds. But there are a few simple precautions that you can take to help make the thief’s target a little harder to reach:

• Never leave your vehicle running unattended
• Park in well-lit areas.
• Always roll up your car windows, lock the doors, pocket and protect your keys.
• Never leave valuables or packages in full view. Put them in the trunk.
• Park your car in the garage at night

Dubin says: “Finally, this one drives me crazy and I see it all the time.   People just leave their keys in the ignition, while going in for a coffee and donut or warming up their car in the morning...  Approximately 20% of all stolen cars have keys in them.”  

Canada’s top 10 riskiest online cities for cybercrime risk

Did your city make the list?

For the second time in a row, Burlington, Ont. topped Norton and independent research firm, Sperling’s BestPlaces, list of Canada’s top 10 cities that have the highest number of cybercrime risk factors.

“In our examination of the riskiest online cities, we’ve considered a number of factors that can potentially affect online safety,” said Bert Sperling, founder of Sperling’s BestPlaces and lead researcher for the analysis. “By looking at data from consumer lifestyle habits as well as cybercrime data provided by Symantec, maker of Norton products, we’re able to provide a holistic view of the various factors that put a person at potential risk.”

The study determined the per-capita rankings by examining several consumer behaviors – from the prevalence of PCs and smartphones, to social networking and accessing potentially unsecured Wi-Fi hotspots, among others.

Burlington ranked high in all four categories measuring cybercrime data per capita, including attempted malware infections, attempted web attacks, attempted spamming and attempted bots by city. Burlington also ranked high amongst Internet use and expenditures.

“This is the second time that Burlington has come out on top in this ranking,” said Rick Goldring, mayor of Burlington. “We choose to look at the positive aspects. This report shows our residents are connected and are reaping the benefits of using the Internet for both personal and business needs. This is a good opportunity to look at these risk factors and remind residents – even those in other cities – to protect themselves and their information online.”

The Top 10 Riskiest Online Cities in Canada are:

1) Burlington, ON
2) Port Coquitlam, BC
3) Vancouver, BC
4) Langley, BC
5) Calgary, AB
6) Fredericton, NB
7) Toronto, ON
8) New Westminster, BC
9) Edmonton, AB
10) Victoria, BC

Norton reminds web surfers to protect themselves against cyber risk. Proceed with caution when using Wi-Fi hotspots
 and make sure you’re using a secured network if conducting online purchases or banking from a laptop, tablet or smartphone. Also, use complex and unique passwords for each site, including a combination of uppercase and lowercase letters, symbols and numbers. Make passwords as random as possible, and change them regularly. Lastly, stay educated.

Check out our new mobile application

Technology is constantly changing and in order to help serve our clients better we have added a mobile applications called Insurance Companion which is compatible with Blackberry, Iphone and Android phones. Visit our website to download the app.

Some of the many features include the ability to:

•    Contact us with the touch of a button, by phone, email or go directly to our website.

•    Report Automobile Accidents directly to your broker using a simple form, insuring no details get overlooked. You can even take photos of the accident.

•    Locate the Nearest Collision Reporting Centre and Body Shop. Utilizing GPS technology you can find what you're looking for quickly.

•    Submit Property Claims quickly and easily, including photos, right from your phone.

•    Report Special Home Inventory Items of precious belongings, including descriptions, estimated value, and photos.

•    View Archived Accident Reports at any time.


To download the application please visit our website at: www.mollerinsurance.com 

Don’t Let Winter Catch You Off Guard: 10 Things You Can Do Now to Winterize Your Car In the fall …

1 .Have your mechanic check your battery fluid levels, battery posts and cable connectors. Bad connections can keep your car from starting.

2. Worn windshield wipers reduce visibility in bad weather conditions; replace them annually to keep visibility clear.

3. To avoid problems with visibility, ensure that your defroster and heater are working properly.

4. Invest in snow tires for the winter (they're mandatory in Quebec). The deep treads give you more control while driving in the snow or on slippery roads. Make sure your tires are also properly inflated as tires lose a pound of pressure for every 10 degrees the temperature drops.

5. In Canada, blizzards can come out of nowhere. Put together or purchase a winter safety kit that includes a warm blanket, flashlight, gloves, boots, flares and water. Don't forget to keep a good ice scraper, washer fluid and non-perishable foods in your trunk.

When the bad weather hits …

6. Clear ALL the snow on your car, not just the snow on the windows. Leaving snow on the roof of your car can be dangerous for other drivers if it lands on their windshield and reduces their visibility.

7. Plan your route in advance and give yourself extra time to get to your destination so you can drive at a safe speed and not worry about rushing.

8. Leave extra space between you and the car ahead. It takes longer for you to come to a complete stop on slippery roads.

9. Turn on your headlights if visibility is poor. Do not rely on just your car's daytime running lights. This helps you see and be seen.

10. If the weather is severe, pull over until it is safe to drive or avoid driving at all if you can. Before driving in bad weather, make sure to bring a fully changed mobile phone with you so you can call for help if you get stuck.