Frequently Asked Questions
RV Insurance FAQ’s
Do I need my own insurance policy for my travel trailer?
No, you are not required to carry insurance coverage on your travel trailer. A travel trailer is not the same as an RV so it does not fall under the same insurance needs. When towing your travel trailer the liability extends from the towing vehicles auto policy. However, once the vehicle is parked you will not receive the coverage extending from the automobile. This is why we always recommend carrying a separate liability insurance policy for your travel trailer.
Is my travel trailer road legal without an insurance policy on it?
Your travel trailer is considered road legal so long as it is being towed by an insured and registered vehicle. You can also carry a specialty travel trailer insurance policy to ensure you will receive coverage on the trailer no matter what it is being used for.
Do I need insurance coverage on my RV or Motor home?
For an RV or motor home you are required to carry an auto liability policy because the vehicle is able to be operated independently. You may also need to add a property insurance policy if you live out of your RV or motor home.
Motorcycle Insurance FAQ’s
Is it mandatory to have motorcycle insurance to be road legal in Ontario?
* Yes, in order to be road legal you must first have a valid motorcycle license for the province of Ontario, as well as an insurance policy for your motorcycle. The only instance where insurance is not required, but can still be added, is for bikes that are only driven on private property.
If I only ride my motorcycle in the summer can I cancel my insurance policy for the winter?
* Yes, you do have the ability to cancel your policy midterm. However, with most companies there is a cancellation fee and it often is more than the money you would save. This is because most companies who insure motorcycles in Ontario realize that the bike is typically only on the road in the summer so they allocate the premium to those months.
If I bundle my motorcycle with my home and auto is there a discount?
* With many companies bundling your home and auto will save you money on your insurance. The same is true if you bundle your motorcycle insurance with your home, auto, or both. However, some companies have eligibility requirements that you must meet or they may not even consider writing your motorcycle.
My bike only cost $1000 why is my insurance more than the motorcycle?
The value of your motorcycle does play a role in determining the premium for your motorcycle insurance policy. However, the majority of the insurance premium and the reason it may be more than the value of your bike comes from the accident benefits portion of your policy. This is the portion of the policy that covers you if you are injured in an accident. With motorcycle your likelihood and the potential damage are historically a lot worse than a car insurance accident when it comes to injuries.
Do I get a discount if I do rider training?
Almost every company that insures motorcycles will provide a discount for individuals who complete the rider training program. Some companies also offer huge discounts for riders that complete the advanced rider training. It is definitely worth it to complete the rider training and save on your motorcycle insurance.
Boat Insurance FAQ’s
Is it mandatory to carry boat insurance in Ontario?
No, boat insurance is not mandatory in Ontario. However, there are certain cases where you are required to carry boat insurance. For example if you moor your boat in a marina you may need to carry a certain amount of boat liability insurance. If you are financing a boat you will be required by the bank to carry insurance until the loan is completed.
Do I have coverage while my boat is on a trailer?
Great question! There are two things to consider when talking about towing your boat on a trailer. Your marine insurance policy will cover physical damage to the boat while it’s on your trailer. For instance, if you are towing your watercraft and someone rear-ends you, damaging the watercraft, the marine policy will cover the damages. If you are towing your boat and you side swipe someone with the trailer, causing damage to a third party your auto policy will respond.
Car Insurance FAQ’s
Does the colour of my car impact my rate?
No. Despite the myth that red cars are more expensive to insure it is not true. The vehicle paint colour has no influence on the vehicle rating or premium.
Can anybody drive my car?
Yes, anyone can drive your car unless they are specifically excluded (which requires a signed document referred to as the 28a). However, if you allow someone to use or borrow your vehicle and they do not carry their own insurance the penalties they may receive would fall back on you, the named insured.
Home Insurance FAQ’s
Is home insurance mandatory?
Home insurance, unlike auto insurance, is not required by law. However, most mortgage lenders will require you have valid insurance before committing to a mortgage.
Group Benefits FAQ’s
What types of coverage can a group plan provide?
Group benefits plans can offer:
- Health Insurance, including prescription drug coverage, hospital coverage, eyeglasses or contact lenses, and paramedical coverage (Physiotherapy, Massage Therapy, Psychologist, etc)
- Dental Insurance
- Life Insurance coverage for your employee
- Accidental Death and Dismemberment coverage
- Dependent Life Insurance if your employee’s spouse or child dies
- Income replacement (Short Term Disability and/or Long Term Disability coverage)
We can customize a plan that incorporates the coverage you want for the best value.
Why are group benefits better than individual insurance?
An employer sponsored group benefits program typically offers a broader range of coverage than with an individual plan, due to the fact that many members are involved, the price is lower per member. Additionally, group benefits plans offer minimal underwriting. This means that an employee, a child of an employee and a spouse of an employee can get coverage without medical underwriting, even if they otherwise could not qualify under an individual plan.
Aren’t Benefits plans expensive?
The pricing for your Group Benefits plan is based on a variety of factors; demographics, occupation mix and plan design, employer/employee premium contribution split, and your usage of the plan (called “claims history or “claims experience”). Claims Experience is the main driver of renewal prices.
A good broker has the ability and capacity to take into account your budget, your coverage requirements, and your claims history to make sure that you have a sustainable group benefits plan.
Who pays for the Group Benefits Plan?
Employers typically pay a minimum of 50% of the premium, with the employee paying the other 50% by payroll deduction. The employer can pay more than 50% with the employees paying the balance. We will illustrate the premiums per pay for you and your employees.
Why are group benefits more valuable than a pay raise?
Offering a group benefits plan is an effective way for you to reward your employees with more value, while earning important tax deductions for your business. When you pay more salary, you also must pay more source payroll deductions. Therefore, the value to your employees can be diminished by a potential tax hit. Healthier employees with affordable access to medication and dental care are able to be more productive in your business. In fact, having a group benefits plan can be the reason why your employees won’t leave you in favour of a competitor.