By: Newman Insurance
Summer is an increasingly busy time for all us, including your insurance brokerage. If you have a toy, or plan on purchasing one, you should consider contacting your broker as soon as possible to get the ball rolling, so you’re not stuck waiting. It can be confusing, not being aware of what can be insured on an exiting policy & what requires a new one.
Things we can insure under your home policy
Many items such as, bicycles, kayaks, canoes, and golf clubs are covered under your home policy as personal contents; however, dependent upon your policy, some companies have special limits for these items (special limits is a specific monetary amount they will pay out in the event of a claim on particular items). The best way to maximize coverage and lower deductibles on these special interest items we recommend scheduling, and itemizing them specifically on your policy for replacement cost.
Things that need their own policy
Though it is possible to add a boat to your home policy, there are specific rules and limits that must be followed. Dependent upon the value of the boat, what waters you travel, size of motor and length of boat we recommend a watercraft policy, which may or may not have certain warranties that must be followed. This ensures that the boat is insured accurately, and is on a separate policy, thus, if a claim is to be made it will not go against your home insurance. A watercraft policy can be for a bass fishing boat, a pontoon boat, sailboat, yacht, Seadoo, etc.
ATV’s, these can be added to your regular auto policy as long as the company your insured with accepts the risk, most companies write ATV’s, but it does depend on specific models, how long you’ve been licensed can be a factor, the amount of cc’s displaced by the vehicle.
We recommend a policy specifically for your trailer needs. This can cover your contents, fire, theft, liability, a parked unit, an RV unit etc. Your broker will know the best way to insure the vehicle, be sure to know the value of your trailer.
Classic or antique vehicles are incredibly unique, just like the policies that insure them. While the insurance is quite inexpensive it does limit your allotted annual km, because you’re not going to drive your 1969 Corvette Roadster in the winter. Bring us your appraisal, show off some pictures, and we can set up a policy for your new baby!
How to make the new business procedure go smoothly
Having all of the information we require can speed up and smooth out a process very quickly, notable information required include your pleasure craft licence, the value of your purchase, the identification numbers, and financer information if applicable is always helpful, and a void
cheque. If you’re not sure what will be needed, a quick call or email can save you a lot of time, and make sure you’re able to get your purchase on time.
Other insurance to consider
We live in an area with a lot of fairs, and fun things to do, if you’re an Entrepreneur, or an avid DIY’er, you may want to consider vendor coverage to cover yourself & your merchandise while at a vendor show.
Liquor liability, wedding insurance, home, auto, commercial, and if you don’t already have it, Life insurance! We are a full functioning brokerage and can easily help you with all of your insurance needs.
We look forward to working with our clients and meeting new ones!
For more information please visit us at www.newmaninsurance.ca