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FAQ

What is claims forgiveness?

Claims forgiveness is an optional addition to your home insurance policy. In the event of your first property claim; that claim will be waived as if it never happened, your rates not increase due to the claim, and you maintain your claims-free discount. Upon your renewal, if you make another claim it will be treated as your first.

Why did my premium go up?

Many factors are taken into consideration with insurance carriers' underwriting guidelines; from past claims to future predictions. A big reason is postal code. All variables and information regarding your home are correct and updated to provide you with the best suited insurance protection while gaining all applicable discounts.

What does the liability section of my policy cover?

Homeowners and renters can be held liable for the bodily injury or property damage accidentally caused by others. The person liability portion of your home insurance provides coverage if such an event occurs on your property.

How do I know when my policy is renewing?

Your property policy automatically renews on the anniversary of the date your first purchased your insurance.

Do I pay part of the condo’s corporation’s deductible if a claim is made?

Request a copy of your condo corporation’s insurance policy (if you don’t already have one) and read through it carefully to see what level of responsibility you have. And of course, if you need help reviewing it, you can speak to an BKIFG insurance broker.

What does my condo corporation cover and what am I responsible for insuring?

Your condo corporation’s insurance policy only covers items that are originally part of the building and its common areas (walls, roofs, floors, elevators, swimming pools, and any associated outbuildings). That’s why it’s important to get condo insurance, which is designed to cover: Your personal liability - should someone hurt themselves while visiting your condo. Any investments you’ve made to upgrade the unit Your shared responsibility of common areas Your condo unit - in case your condo corporations insurance doesn't cover your loss fully

How do I know how much coverage I need on my Condo?

The valuation for condo coverage is based upon the value of all your contents up to $300,000. Single policy covers Personal Property (100%) and Additional Living Expense (30%).

How are my Condo premiums calculated?

Your premium is factored by some key underwriting variables: Postal code Address Replacement cost valuation Hydrant protection Construction type, size age of property, upgrades to the roof Plumbing, Heating, and Electricity

What should I do if I go on vacation? Does someone need to check on my place?

Whether you are going away for the weekend or an extended amount of time, you always want to make sure your: Doors and windows are shut, gates to the backyard are closed, all faucets and water sources are shut off, big electronic items are unplugged It is important you have someone you trust check on your home while you are away. You don’t want to come home to a flooded kitchen.