Frequently Asked Questions

General

What is an insurance policy?

A contractual agreement between you and your insurance provider that details the terms and conditions of the protection you have for your assets that are insured.

What is a premium?

The premium is the amount of money you pay for your insurance policy. You can pay your premium in regular installments or once a year.

What is a deductible?

Your deductible is the portion of a claim that you’re required to pay. For example, if your policy has a $500 deductible and you make a claim of $2,500 in losses, you’re required to pay the first $500 and your insurance will pay the remaining $2,000.

What is a limit?

All insurance policies have a limit. It’s defined as the maximum amount of money your insurance will pay to cover a loss. For example, if your policy has a limit of $100,000 and you suffer a loss of $150,000, your insurance will pay a maximum of $100,000.

How do limits and deductibles affect my policy?

When choosing your deductible and limit, it’s important to consider how much you are comfortable in paying at the time of a loss. Our personal care team will help you decide the best deductible and limit for your needs.

Auto

How is my auto insurance premium determined?

Your premium is determined primarily by your driving record (which includes tickets or at-fault accidents); the year, make, and model of your vehicle; as well as your driving habits, such as the length of your daily commute and the number of kilometres you drive annually.

How can I reduce my auto insurance premium?

  • Continue to build driving experience and keep a clean record.
  • Keep the number of kilometres you drive to a minimum.
  • Increasing your deductible will lower your premium; however, you should only do this if you are comfortable paying the out of pocket cost in the event of a loss.
  • If you have an older vehicle that you don’t intend to replace or significantly repair in the case of an accident, consider opting out of physical damage coverage.
  • Let your insurer know if your driving habits change. For example, if you no longer drive to and from work.
  • Bundling your auto and home insurance together with Cal LeGrow can reduce your premiums.

Can a parking ticket cause my premium to go up?

No. Parking tickets will not affect your premium. Parking tickets are an exception but all other driving convictions or at-fault accidents will cause your premium to increase.

Can auto insurance cover other types of vehicles?

Yes. You can purchase auto insurance for motorcycles, boats, watercraft, snowmobiles, RV’s, ATVs, and other recreational vehicles.

In the event my vehicle gets broken into, will my auto insurance cover any personal items stolen from it?

No. Auto insurance only covers the vehicle itself, not stolen personal items. Most personal items that you keep in your car can be protected by your home or tenant insurance policy.

If I lend my car to a friend, are they covered under my auto insurance?

In most cases, yes. As long as the person you’re lending your car to has a valid driver’s license and isn’t a member of your household, your insurance will likely cover them. For safe measure, always check the terms and conditions of your policy for possible exceptions. Don’t forget that your premium could increase if your friend gets into a collision with your car. Note that anyone in your household who drives regularly, and anybody outside of your household who uses your vehicle regularly, should be listed on your policy.

Home

What is generally covered by home insurance?

When purchasing your home insurance policy, you will be provided with a list of covered events. A general list of covered events may consist of: smoke or fire damage, theft or burglary, vandalism, and damage caused by vehicles. Water damage may also be covered as long as the damage is sudden and was non-preventable. Damage caused by regular weather is commonly included; however, you may require additional coverage if you wish to be protected from damage caused by hurricanes, earthquakes, and floods. Generally, liability coverage is also included which provides coverage in the event that a guest is injured on your property and takes legal action. Additional coverages can be added depending on your needs.

How is my home insurance premium determined?

  • Cost of replacement: The cost to replace your home and belongings if something were to happen isn’t the same as your home’s market value. It’s determined based on the size and composition of your home, as well as the value of the belongings contained within it.
  • Roofing: You may pay a lower premium if your roof is less than 20 years old.
  • Heating: Electric heat or forced-air gas furnaces are lower risk than wood stoves and heating systems that use oil tanks.
  • Plumbing: Your premium may be lower based on how new your plumbing system is.
  • Security systems: Having a monitored security and/or fire alarm system installed can reduce your premium.

How can I reduce my home insurance premium?

  • Increasing your deductible will lower your premium; however, you should only do this if you can afford the out of pocket cost in the event of a loss.
  • You may be eligible to receive a no-claim discount after a certain amount of time without making a claim

Will my home insurance cover the losses of all my belongings?

Your policy will cover most of your belongings; however, certain items may be subject to special limits. These limits are set on expensive belongings such as jewelry, instruments, and sporting equipment. If you would like to have full coverage on an item that is subject to a special limit, you may need to purchase additional coverage.

What’s the difference between tenant or renter insurance and home insurance?

If you don’t own your house or apartment, you would apply for tenant insurance rather than home insurance. Tenant insurance will cover all your belongings but not the house or apartment itself. It also includes personal liability coverage, in case somebody is injured while visiting you or if you cause damage to the property.

What’s the difference between landlord insurance and home insurance?

If you own a property which you lease to tenants, you require landlord insurance. Landlord insurance covers the home or apartment itself and the contents of the property which are owned by the landlord. The belongings of the tenants will only be covered by their own tenant insurance. Landlord insurance also provides liability coverage, in the event that a tenant or a guest of theirs is injured on the property.