The Right Product at the Right Time

Most people are familiar with the 4 most common insurance products: Automobile, Property, Life and Health Insurance. But did you know that as you acquire more wealth, move to a bigger house or begin to build a wine collection, the need to update your insurance coverage may be required. This is the time to review your current insurance portfolio with your Broker, so you can feel confident you have the protection you need in the event of a loss.

The following are a few questions to ask yourself, and the answers become the notes needed to start the conversation with your Broker.

Do you have pets? Pets are prone to accidents, just like humans, and uninsured vet visits can be costly. Some of the most costly incidents involve a pet ingesting something they shouldn’t.

Have I upgraded my “stuff”? As the value of your home, vehicles and assets rise so does the need for specialized coverage for valuable collections and more.

Have my home features changed? With each renovation, including installing a pool or a home office, it’s a good time to let your Broker know.
Do you own other property? Whether you have a rental property or a seasonal home, both require specialized insurance coverage that will take care of what matters to you.

Have any toys? You’ve earned your lifestyle now protect the things you’ve worked so hard to attain. Things like snow mobiles and ATVs often need separate and specialized insurance policies.

Have any collections? There are two major forms of additional coverage available for your valuables. One is to insure items individually through a “schedule”, while the other is to buy broader blanket coverage for each category of valuables.

Do you serve on a Board? Volunteering to sit on a board of directors for an organization is not as simple and straightforward as it used to be. It has evolved into a position that could potentially threaten an individual’s livelihood and personal fortune.

Do you Travel? Whether across provinces or continents, Travel insurance is a must for your possessions, your luggage or your health. Once you’re ready to travel again, don’t leave home without it.

Insurance is not a once and done transaction. It is important review your insurance coverage every year at renewal time, and if anything has changed, sit down with your Broker to discuss any gaps and get answers any questions you may have.

By taking the time to be diligent with your insurance protection, you can feel confident in the event of a loss that you have what you need to get your life back to normal.

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