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Learning

If I make a claim will my rates change?

It comes down to your specific situation. During the renewal process, your past claims history will be taken into account, but you won’t know the full impact until your renewal is finalized.

What do I do if my basement is flooding

You should do the following: Turn off any electricity, shut off the water source, locate the leakage, determine if any household items can be removed or salvaged to prevent further damage. Call BKIFG so we can start the claim right away

What if I want to make changes to my policy?

If you need to update details of your account profile, you’d like to add a driver, or if you’ve changed jobs and now your commute has changed, contact BKIFG. You’re in control of the coverages, changes to premiums, and confirmation of any changes.

What does the liability section of the 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 how much coverage I need as a tenant?

Evaluation for tenants coverage is based on the value of all your contents up to $200,000. A single policy covers the replacements cost for Personal Property (contents) and the Tenants Improvements and Betterments. Contents insurance covers the costs to repair or replace clothes and most household items. Even if you think your belongings have little value, the cost of replacing everything at once adds up.

How are my tenant premiums calculated?

Your premium is factored by some key underwriting variables: Postal code and street address, replacement cost valuation, hydrant protection, construction type, size and age of property, including any upgrades to the roof, plumbing, heating, or electricity.

Why did my insurance 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

How can I reduce my tenant insurance premiums?

We encourage you to review your renewal each year. Here are some options you have to reduce your premium: Increase your deductible, install a home and security system or monitored alarm, ensure everyone living in your condo is a non-smoker, bundle your tenant and auto insurance with BKIFG, re-assess the value of your condo’s contents

If I am renting, why do I need insurance?

You may not own the space, but you know your stuff! Tenant insurance provides coverage for 3 things: Your personal property, additional living expenses, liability coverage

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.