royal london insurance group

royal london insurance group
House Insurance in Ontario and car insurance alike are spread out over a very broad insurance market. There are thousands of insurance brokers and agents working in Ontario. But, we all ask ourselves where do we go and why? The first insurance policies ever written or should I say agreed upon date back to the 1500's

It all began in the early 1500's, when shipowners, to London in coffee-houses where they are selectively retained, shared, and transferred the costs of the risks associated with their ships. In essence, these were often mutual or reciprocal agreements, similar to today's insurance. But that is another story, I will be writing about.

At the moment the focus is House insurance in Ontario. Decisions for you and your family when it comes to insurance and that is why you need your home insurance carefully.

How to find the best insurance for your home service needs. Most people like to go their car and house insurance.

There are 3 standard ways to shop for Insurance:

local insurance broker for many

Brokerage call centers, the number of insurance

Representatives on the spot or call-center, 1 company

If you are on the insurance company to quote you take some time and research through the search on the Internet or contact the Financial Insurance Services Commission of Ontario, to learn more.

The choice is really up to the consumer depending on how they like to conduct their business. Some are quite complacent Shopping on-line. If you choose this method, and you will only use your personal data, make sure that the page you put your information secure. Check your browser, and the first 5 letters www. should read https not http.

What kind of home insurance should you buy?

I always say, never cheap, unless you are the right things. First off I want to explain the difference between standard coverages and comprehensive coverage's that are included in insurance policies. The dwelling building, outbuildings and personal property are normally covered for specified perils form, broad form, comprehensive form or all risks (all perils) depending on the formal offer by the house insurance representative you have chosen to deal with. The following is a brief definition of the two types of coverage available. For a complete definition of a broker or agent.

A name hazards would include: fire, lightning, explosion, smoke, falling objects, the effects of land-or aircraft, riots, vandalism and malicious acts, water damage, windstorm or hail, transportation,

All risks of a policy would be: If you are insured for all risk insurance, are you against all risks except for the exceptions listed in your policy. Check your policy for exclusions usuall following extensions of coverage.

Extended Coverage under the property:

Section 1: Describes the insurance on your property, including additional living expenses and fair rental value.

Coverage A: Housing construction - example is the house structure

Coverage B: Detached private structures - for example, is a garden shed

Coverage C: Personal Property - Jewelry For example, a particular boundary

Coverage D: Additional Cost of Living

Common extensions of coverage are:

Debris Removal, property removed, move to another house, fire brigade charges, change of temperature, food freezer, lock replacement, tear, arson or theft conviction rewarded, personal data stored in a computer, credit or credit card forgery and counterfeit currency, tombstones, inflation protection

After reviewing my own house insurance polciy, I noticed, exclusions, and counted 28 of them not to mention what they pay and not pay!

The next section of your policy wording to make sure are the exceptions. This is the most important part of an insurance policy if you are on the details of your house policy.

Section 2: describes the insurance for your legal liability for personal injury and injury to others or damage to property of others from your home or your personal actions. It also includes benefits after an injury or damage to property of others.

Coverage E: Legal liability - example, someone on your property and slips, because you do not make the area legally liable.

Coverage F: Voluntary Medical Payments - where a person slipped on the stairs and take an ambulance to the hospital, your insurance will pay reasonable expenses to cover the costs of the injured person. There is no deductible applicable.

Coverage G: Voluntary payments for damage to property - eg if your child accidently hit a baseball, and it went through the neighbors window, you can volunteer for this and the cost of your insurance. There is no deductible applicable.

Important - Please read the exclusions for this section because there are more, I have 10 other exceptions for which the liability section.

To summarize, there are many insurance brokers and insurance companies who want your business. Take your time and know the information about your house. Discover the different coverages and know what you are looking for before you shop online. Before you can create a policy, the coverages, extensions and exclusions and ask for a copy of the special restrictions in the policy. In this way you know if you are in full as you want.

Dave Melanson has been working in the insurance industry for more than 14 years as an agent and a broker. Dave's expertise include: auto, home, boat, motorcycle and insurance companies. Dave has consulted with more than 140 insurance brokerage and has been interviewed on insurance related topics with CBC news.