You will find below a list of the most frequent insurance questions we are asked. Click the question to expand the answer.
If the damage to the roof is caused by an insured peril than it’s covered. An example of this would be a tree falling on the roof, lightning strike, or wind damage. Most policies will reimburse for the full cost to repair or replace the damaged section of the roof. This does not necessarily mean the entire roof. Some policies will only reimburse for the depreciated value of the damaged roof.
If the roof is starting to leak because it’s old and wearing out then it’s not covered as this is a maintenance issue. Homeowners policies do not cover losses caused by wear and tear. It’s important to check with your own insurance provider to see how your own policy will respond.
The answer to this question varies from one insurer to the next and a persons individual situation. Some companies will allow one claim within five years without changing their rate. Having more than one claim within 5 years can cause a significant increase in cost. Many companies provide a no claims discount on their policies and it is the loss of this discount which can caused an increase in premium upon making a claim.
No one wants their dog to bite another person, but it does happen. This is where your personal liability coverage comes into play. Your personal liability coverage provides protection for situations where you are negligently responsible for bodily injury or property damage to another person.
Absolutely, without a doubt. Sewer backup coverage provides protection against damage caused by the back up of a drain or sump pump. This can be the result of a sudden storm or an aging sewer system. Many sewer backup claims can run between $30,000 to $50,000 in damage. Emergency clean up alone can be very expensive. Don’t have a finished basement so you’re not concerned. Think again. Sewer backup to an unfinished basement can still damage the furnace and hot water tank that are normally located in the basement. We had a policy holder who was away from their house for a week while the backup took place. The moisture from the backup seeped up into the upper floors causing damage to the walls, ceilings and floors of the entire house.
Contractors insurance is generally made up of two main components. Property coverage for the contractors tools, equipment and supplies and commercial general liability (CGL) coverage which protects the contractor against the cost of lawsuits resulting from their negligence in causing Bodily Injury or Property Damage. What it doesn’t cover is the contractors own faulty work. The CGL specifically contains an exclusion excluding damage to the contractors own property, product or work or that particular part of real property that the contractor or subcontractors are working on. For example, if a contractor is building a wall and that wall collapses, there is no coverage for the wall. If the falling wall damages another person’s property, such as a car, then damage to the car is covered. Another example would be where a roofer improperly installs a roof causing the roof to leak and damage to inside the building. The damage to the inside of the building is covered but not the roof itself.
Many Commercial General Liability policies provide protection from any liability arising from subcontractors. However, others may include an exclusion for independent contractors, which means if anything goes wrong due to their work your policy may not cover that loss. Even if your policy covers subcontractors it’s good business practice to make sure that they have their own insurance. That way they are responsible for any losses they cause and will have it covered under their own policy not yours. The fewer losses on your policy will help to keep your policy intact and the premium lower. Also, many insurers are now making this a requirement.
It is also highly recommended to be added to the subcontractors policy as an” additional Insured” and ask for a certificate of insurance. By being added as an “additional insured”, if you happen to be named in a lawsuit resulting from the contractors work, their policy will provide you with protection according to the limits and conditions of their policy.
A certificate of insurance is a standard document used for evidence that a certain type of insurance is in force. It will provide specific policy information such as the insurance company's name, policy number, expiry date, types and limits of coverage. It also includes a 30-day notice of cancellation to the certificate holder if the policy happens to be cancelled during the current policy term.