Ogilvy & Ogilvy is proud to announce that we will be sponsoring the 140 Conference Montreal for 2012. The #140Conf is an exploration on the effects that Social Media is having on "The state of now". What does that mean? It means that Social Media, which includes Twitter, online games like Farmville, Blogs, Facebook, Google+, LinkedIn and Foursquare is changing the face of how we live, how we communicate and how we do business.
Ogilvy & Ogilvy was built on relationships. We have not been active in advertising, we rely on word of mouth. Many of our clients are third generation clients, and as time has passed we have managed to maintain those relationships. As the world has changed we have realized we want to make sure that our clients and our community have a way to connect with us. Social media has presented options to find more ways to connect and be involved.
When the opportunity to support the #140Conf and bring this international conference to Montreal came up, it made sense that if Social Media is about relationships, and this is what Ogilvy has built a business on for over 85 years now, that sharing the power of communication and bringing the conference to Montreal was in perfect alignment with our values and goals. We want to support "making the world a smaller place", give back to our community and enhance communication and relationship building using these social tools.
Like many out there, as a business, we are just learning about the possibilities. We look forward to joining forces with other relationship conscious brands in sponsoring the event as we continue on our path to use Social Media to create new ways for our clients to communicate with us and engage with our community. The #140conf provides an opportunity for individuals and businesses alike to learn how to connect and share in the experiences others are having using these tools to improve service, reach out to their communities and strengthen relationships.
All part of our journey and commitment to continue to make ourselves accessible to our clients, and assure we maintain our personal service values.
We are proud to support this conference which is all about connecting and making sure that as the world grows, as business gets faster, as lives get busier - we always take that time to find ways of maintaining and building strong relationships one client at a time.
Water Damage claims poured in yesterday following Tuesday's flash rain storm which caused chaos in the streets and homes in the Montreal Area. The West Island and South Shore regions were the hardest hit as people had to wade through water on what are normally clear streets. Cars drove through rivers, and low lying areas were hit hard as masses of water poured down the hills in areas like lower Westmount.
Aviva Canada issued an announcement advising that they had called in their Catastrophe teams to respond as people discovered their basements flooded as the result of the afternoon downpour.
When do you make a claim?
In cases like this, it makes sense to call in your insurance company and get a professional point of view on the state of your home. Water damage is a serious issue. Many people avoid making claims because they don't want to lose their claims free discounts. If you called me and asked me if you should make a claim on something small, I would always make sure to counsel you on the potential increase you would suffer as the result of a lost claims free discount. If you've already had claims, you might want to consider whether your claim would create a frequency issue. Loss of claims free discounts can often mean seeing an increase of 10-25% over the next 5 years. Frequencies of claims can cause insurers to add surcharges to your policy, and in cases of repeat incidents of the same kind, may result in restricted policy coverages, and in extreme cases, non-renewal. However, when it comes to water damage the risks are too great to take your chances and handle the job yourself. Water damage can be extremely dangerous to your health, as mold can begin to form as early as 48 hours after the water enters your home.
Many of our clients and even employees questioned whether they should make claims on thier home policies, many said they would use a shop vac and try and take care of it themselves... but in all these cases - where water comes into your home and floods an area, you should get a professional opinion. Your insurance advisor is your best bet.
An adjuster can be sent to your home, they will check out the situation, they will remove the existing water and make sure that all precautions are taken to remove risks of mold.
If you removed the water yourself, you can still call the insurer in, they can do an assessment of the damage and in many cases you can work with your broker and you to help you decide based on the damage and costs estimated if you want to take it on yourself, or if you want to proceed with the claim.
A visit by the adjuster to assess the damage should not cause loss of the claims free discount. Every insurer has different policies on this issue, however most will be reasonable. Make sure to find out your insurer's view on this.
Note: If they do work like emergency water removal services, it will be considered a claim. In cases like that where there is emergency work needed, they will jump into action - that will be considered a claim.
"I'm not worried about it, I'll fix it myself"
If you are confident you can do the job yourself, and you don't advise your insurer simply because you don't want to make a claim, then months from the incident you discover mold or buckling in the floors, at that point you may no longer be able to claim, and you will be out of pocket for the damages - mold clean up and the demolition required to deal with mold are extremely costly, if you were worried about the 25% loss of the claims free discount, I can guarantee you you will not be happy with the cost of demolition, mold removal and rebuilding.
My recommendation:
This is a major event, if your home was flooded and you've never had a claim before, then this is the kind of thing is what you have your insurance for. At least allow the adjuster to come take a look and the advice you get may just save you thousands of dollars in avoiding long term damage from mold and rot. Your insurance is your resource in this kind of situation use the expertise at your disposal!
Keep your family safe, when you suffer water damage call your broker and ask for their advice and guidance. If the damage is extensive find out what the consequences of the claim would be on your particular policy with your specific information in mind, then make an informed decision.
Water damage is serious and it can create major health risks, and reduce the value of your home. Let your insurance advisor help you make the right decision. Isn't that why you deal with a broker?
Montreal is a beautiful city, it captures many of the most desirable qualities of any city on the planet, from a rich cultural diversity to our festivals or the way we honor and celebrate nature in our green spaces and outdoor activities. According to Tourisme Montreal's latest report, Montreal received approximately 7.5 million tourists/visitors from abroad, representing 2.3 billion dollars in revenue.
This is without a doubt a spectacular city to visit and if you have not been here, then make some plans, because you are sure to have an amazing stay! According to Wikipedia it's our French heritage that sets our beautiful city aside from many other North American tourist destinations. We have so many wonderful qualities as a city - if you want to know some awesome details that make Montreal a wonderful place to visit and live, you can check out this post.
There is however one thing that Montreal is known for that is not as appealing, and that's our outrageous pot holes! Every spring, as we prepare for the numerous festivals and international events, like the Jazz Festival, the Grand Prix, and hundreds of other events (including the #140confMTL - sponsored by Ogilvy & Ogilvy) the attention of the city gets distracted as we dodge obstacles in our daily lives - the Pot Holes!
This morning as I drove into work, I was lucky, I did not hit any pot holes (known in French as "Nid de Poule" ) in fact, I must say I was surprised to not even have to avoid any, but the reputation we have speaks for itself. Google Maps actually has a link where people are trying to record Pot Hole sightings in what they refer to as "Pot Hole City"
Above, a photo from the Montreal Gazette, (as it turns out, it wasn't a real pot hole) highlights an advertising campaign that "spoke" to most Montrealer's - even though it was not real, the stigma about Montreal's pot holes, made this picture believable! At least at first glance...
What can you do about Pot Holes?
It feels like nothing, you drive through the streets like they are an obstacle course. You avoid one happily, and then BANG, you hit another. It almost feels like a no win! Fortunately, the situation has made enough people unhappy and the city of Montreal is doing their best to respond. So here is what you can do to make your path to work, or school, or wherever you are traveling safer:
"The city wants to make your life easier by improving accessibility to its services." According to the City of Montreal, Réseau ACCÈS MONTRÉAL: Call 311 and report it. They will send someone out and get the situation fixed. Have your doubts, don't! They actually are quite responsive - so take this obstacle out of your path and make the call. believe me, it will make you feel much better and make driving safer.
Contact CAA - yes CAA - they have a Road Problem Watch program - when you report to them, they will take care of reporting it to the city for you!
Prevention - Avoid them if you can!
Its not easy to avoid pot holes. Let's face it.
What can you do? About.com had some great suggestions
Keep your headlights clean - so you can illuminate the road as much as possible
Drive slower than usual on what I call the "suspect roads" - if you live in Montreal, you know what I mean, there are just some roads that are pot hole nightmares! In my experience, Cote St. Luc Road is a major one. One year, I personally had 6 tires in one season (yes SIX) damaged there!
Keep your tires inflated properly and consult a tire dealer to check that your car has proper alignment- according to About.com, keeping your tires aligned gives you the best chance of surviving a pot hole hit.
Another favorite from About.com - kind of leaves you wondering where you "can" drive..but still its good advice: " Avoid driving too close to the side or center of the road. Potholes especially love proliferating on the side where street and sidewalk meet. Watch out."
Too late, you hit one...So, who pays for Pot Hole damage?
This brings to light a question we face every year around this time, you hit a pot hole so who pays for it?
Let's get right into it - your insurance can cover damaged to your vehicle itself for damage caused by a pot hole - thats the good news. The bad news? It's a responsible accident! Yes, unfair, annoying, and totally aggravating- but unfortunately if you hit a pot hole and you want your insurance to cover damages it goes against you as a responsible accident. Why? Because its an accident with no other vehicle involved. On top of that , tires (which can be very expensive) are often excluded in your policy wording, so to claim you would need more damage than just a blown out tire or two. Not great right? Who else is responsible? - see point #2 below.
The city. According to CAA Quebec, and in my experience from having heard the same from many of our clients, if you're willing to go through the process you don't need to go through your insurance, or take it out of your own pocket, you can try your luck against the city. "In the case of a claim against a municipality or city, written notice announcing your intent to seek damages must be sent by registered mail to the municipal clerk in the area where the pothole is located within 15 days of the incident." - You may want to read their post on this here.
So welcome to spring in Montreal!
The flowers are going to be beautiful, the weather is going to get warmer...but until then - please drive carefully and look out for the pot holes!
Do you have any stories? What's your pot hole experience? If you live here, you're sure to have at least one! Please join in by sharing in the comments below!
...And if you have a car stuck in a pot hole, by all means share that too - sometimes it takes a picture to believe what we've lived! We will share them on our Facebook page if you want us to :)
I saw an interesting question in one of my LinkedIn groups, it revolved around where the focus is for an insurance representative.
We have so many priorities these days, focus and motivation are what drive us. Without reading further, if you had to answer right away, do you think the person who handles your insurance represents your best interests or always finds you the best price they can... or do you think they are just looking out for themselves?
If you think insurance "people" are just out for themselves, you wouldn't be alone! The reality is, if you look at the "game" of insurance, there are lots of players. You don't want to be alone, you want to be part of a team, and you want someone to be watching your back - protecting the goal. Above all, you need to trust them.
If you don't feel that way, you need to ask yourself, are you dealing with the right person? You have options.
It's interesting in insurance, that depending on what kind of organization you are dealing with, the same product, for example, car insurance, can be delivered or sold to you by agents, brokers, or insurance companies directly.
Here is my answer in regard to where the broker's loyalty needs to be - with you . Like teamwork, everyone should win at the end of the day, that's the true goal!
One of the most difficult things we face as brokers is when a client calls us for help with a situation or perceived emergency, and we have to tell them something is not covered.
In life, we all like to know that someone has our back. When something goes wrong there's someone there to help us.
Your insurance policy becomes that "someone" when something sudden and accidental happens to your home, car or other insured property.
When you deal with a broker, the expectation to have someone who will be responsive and help is even higher. You are not only dealing with an insurance company, you're dealing with a trusted advisor, someone who has the experience to know how to help you when you have an emergency. Unfortunately, in some cases, like when dealing with rot or mold, or the natural deterioration that takes place over time, even your insurance will not respond.
You call your representative, you've suddenly become aware of a horrible problem - mold in the walls, or rot under the floor...you think you will have some support - but brokers aren't miracle workers. All we can do is advise you what your policy covers. In any policy that I know of, rot and mold is not covered.
Why?
Rot and Mold fall under exclusions in your policy wording.
There are references in most insurance contracts to items that are not insured. The nature of insurance is to protect you from sudden and accidental loss. If you think about the length of time it takes for rot and mold to take hold, neither of these things are sudden and although they may result from an accident, in the majority of cases, with few exceptions, they result from unattended repair over time. Most policies contain an exclusion that reads somewhat like this:
"We do not insure water damage caused by continuous or repeated discharge or overflow of water whether the insured was aware of such discharge or not"
or/and
"We do not insure gradual damage caused by wear and tear, gradual deterioration, rust, corrosion, dampness, wet or dry rot, fungi or spores OR repeated damage to property."
It's a tall list of things that can go wrong and not be covered, but these are all important considerations for any homeowner. (Note that this is but two areas of a long list of exclusions on all homeowner policies - it is important to find out what your contract lists specifically).
What can you do to protect yourself?
You need to start keeping your eyes open for the subtle, and sometimes not so subtle signs of trouble.
In every case I have ever handled where we see instances of Rot and Mold, two things happen.
1. The homeowner is shocked and distressed, suddenly hit with overwhelming cost, and the surprise that its not insurable. They can not believe the level of damage hidden in the walls or floors. They usually don't feel they had any indication of the nature of the problem.
2. We usually send people in to investigate the loss - its part of the process in making a claim. When we look at pictures taken during this investigation, we usually clearly see the signs were there. Yet individuals did not ever notice them. I think it is because in the busy lives we lead, we just don't have the time to focus in on these things, we hear a drip, we don't imagine its destroying our outer walls, or our floors. We just think it's a drip. We, as individuals need to start paying closer attention.
What can you do?
It's all in the details, become aware of what is going on in your home. Realize that anything out of the ordinary can point to something serious. Stop things in their tracks while they are still small problems. You never know what is lurking underneath the surface.
Some water damage advice to help control or prevent rot or mold:
If an area is damp, make sure you install proper ventilation. Try and determine why the area is damp, think about the effects that continuous dampness could have and be proactive. Money is tight everywhere, no one wants to take on added expense, but in reality the long term effects of not responding to situations like these are far costlier on all levels and also can put your health and safety at risk. Monitor the humidity levels in your home, between 30% and 50% is a fair range.
When materials in your home start to change color, or wood or paint start to buckle - this is not just something that's happening for no reason. Water is often the cause.
If you have water damage, attend to fixing the source of the problem quickly. According to the Insurance Bureau of Canada, some types of mold can grow in as little as 24 hours.
If you see damage somewhere that doesn't seem to be remotely associated with a source of water - don't disregard this - be concerned. Investigate what is happening before damage starts to spread. If you catch something right away, it might be covered by your insurance because it will never get to the point of being repeated, or gradual. Seek professional advice.
When you are purchasing a new home, make sure that you hire a qualified and experienced building inspector to take humidity tests of the walls at the property. We have seen several cases first hand where inspectors simply did not investigate far enough and people who have purchased new homes end up with massive reconstructions due to hidden rot and mold issues. This is the worst kind of case, when the person affected wasn't even in a position to know about the issues, and yet they get stuck with the bill. I have a client right now who is one year into the repair work and paying thousands of dollars in insurance simply because they did not detect the problem prior to purchase. Their inspector let them down, but they are the ones stuck with the bill. Invest in a thorough home inspection, I can not tell you enough how important it is to uncover things before you make your purchase.
This is the best we can do for you as brokers on this issue: offer you advice, explain what your policy covers or excludes and try and help you be proactive in prevention. Anything beyond that is outside our mandate and ability.
When there is an injustice on the insurance company's side - we will go to bat for you. If you need help settling a claim, and you need someone on your side - that's what we are here for. We do what we can within the limits of coverage of the insurance contract. Unfortunately, on the issue of things that are not covered even with the best broker, you will not be able to receive coverage for something that is excluded from the contract.
Working together to be proactive, that's the best advice we can give. With water damages on the rise, I am sure we have all heard of issues, what has your experience been?
What about those of you who have had a claim denied, did you think your broker let you down when they had to explain the insurer denying a claim?
It used to be that speeding tickets were the main concern for drivers. Times have changed, and with the rise in popularity of mobile devices we have new concerns on the road. Distracted motorists using their hand held devices have caused more accidents, because of this laws regarding their use have tightened. In Quebec, using a hand held device while driving has been prohibited since April 2008.
In line with new stats released by Quebec's provincial police force's analysis of the state of traffic safety for 2011, the number of violations for texting or using the phone while driving still seem to be a concern. Our attachments to our phones are still creating road safety hazards, and despite the strict laws which prohibit the use of a hand held device while driving, the information indicates people are still texting, talking and driving using handheld devices.
The law is pretty specific, even if the person is not using the phone, simply having it in their hand is reason to get a ticket.
The big question some people have is:
Does this affect my insurance rate?
Insurance companies have not come up with "Mobile phone use discounts" but what many do have is a "Conviction Free" or "Safe driving" discount.
This type of discount reduces your car insurance premiums. If you are no longer eligible, it can be removed.
So although we can not say we have a specific penalty for people who use mobile phones while driving, in a round about way, you risk being penalized because to have a violation in your driving record for any kind of ticket or conviction (barring a parking ticket) you lose the discount and your rates go up.
Besides an increase in insurance rate, you could also see higher premiums for renewing your drivers license - since the SAAQ also takes into account your driving record when determining your renewal rate.
So overall, when you look at the big picture, you will not only have to pay the ticket you get for driving while using a handheld device, you may also lose demerit points off your license, pay more for your license renewal and if you had a conviction free or safe driving discount before, you will see your insurance rate go up too.
Focusing on the road while driving and using the hands-free device in your car makes a lot more dollars and "sense" not only for your safety and those of others, but for your bank account too. Don't pay more than you have to, be safe and hands- free.
Have you been stopped for using your mobile phone? What do you think of the law, leave a comment and join the conversation!
A couple of years ago the Quebec Government in Canada passed a law about winter tires: From December 15th to March 15th, ALL tires mounted on a passenger vehicle must be specifically designed for winter driving.
At the time, I , like many people who live in colder climates had used All Seasons for years. I didn't really think there was an issue, after all, years of driving with All Seasons, and no problems, right?
I can tell you from experience, and as someone who went into it very annoyed at the inconvenience of changing tires twice a year - it is well worth it. I am a pretty strong winter driver, even on my previous All Seasons I always knew how to adjust my driving to deal with any conditions. Safety was always important to me, yet I had never bothered with winter tires until the law passed.
Today, I can't even imagine driving without them. You will feel safer, you will have better control of the road, you will be protecting yourself and your family so much better.
Our climate is changing, we are seeing major increases in the amounts of snow we see and ice storms. When you drive in snow storms or in icy conditions, do you see people unable to manage the roads, stuck or struggling, driving at a turtles pace simply because they can't get their vehicle to move forward in the slush, snow and ice? Or maybe, this person is you?
Don't end up on the side of the road because you are having problems controlling your vehicle.
Wherever you are, if you drive in a region that has snowfall or sees temperature drops, don't wait for it to become a regulation or mandated by law.
Get your winter tires now, it will extend the life of your all seasons/summer tires, it will give you the control that you need on the road - beyond what you have ever experienced with All Seasons. It will keep you on track.
Its an investment in your safety. Your regular tires will last twice as long, since they will be used in the conditions they were built for.
I found the video below from the Insurance Bureau of Canada which shows road tests on an ice skating rink - really interesting. Hope it helps convince any of you out there who don't see the value in snow tires to give it a second thought.
Tires on which the mountain and snowflake icon appears.
From an insurance perspective, we are still seeing claims where people were driving without winter tires. At this time, the insurers are handling these case by case. From our experience with our insurers, which include Aviva, Chubb, Missisquoi, Guarantee Company of North America , and Intact, we have not seen any claims denied due to the violation of the law which requires winter tires. However, in Quebec, it is a law and so everyone here should have them installed. We advise all our clients to have them installed and respect the law.
A real driver is interested in performance, equip your vehicle for winter, you'll enjoy the ride, you'll have better control and everyone will be safer.
Leave the skating on ice or sliding down slippery slopes for outdoor sports and gain control of the road.
Have you installed your winter tires yet? What's your experience? Please share in the comments below and join the conversation!
The easiest option to save money on insurance is making sure you get all the discounts you are entitled to.
Does your insurer have all the information they need to give you all the best discounts? Here are some items that many insurers will credit your policy for:
For automobile, Conviction Free Discount (haven't gotten a ticket in years? why not benefit?)
Credit Check - this is not a discount per se, however it results in favorable rates for many people. In our offices we have seen rate adjustments up to 50%. Make sure you have authorized your credit scoring - it could really help.
Non-Smoking discount. Yes, you heard it, insurers even give discounts for things like being a non-smoker. It does not apply with all insurance companies, but its worth an inquiry. Not smoking is not only good fro your health, its good for your insurance too ! Every bit counts!
Group membership discounts - many insurance companies have group discounts. Find our from your employer if you have a group insurance plan for home and auto. There are also group discounts for members of certain professions or organizations like CAA, as well as professional discounts, and even university degree discounts. We have one insurance company who even gives a discount if you work for a company with more than 5 employees. It doesn't hurt to ask. Not yet graduated? Students get discounts with some companies as well. Seniors and Retirees also have special plans with some companies. There is something for everyone somewhere.
Alarm system discounts. Often people upgrade or install alarms and then do not think to update the insurance company. The difference between different home alarm systems can be from 5% to 40% depending on the insurance company. Make sure they have all the information they need to give you the best rate.
Insurance to full value on homes. Depending on the insurer, sometimes they will allow you to "save money" by only insuring to 85% of the estimated reconstruction value of the home, however, some insurance companies will give a special discount to clients who recently allowed a review of their home reconstruction value and chose to insure to 100%. Your insurer has to indicate this in the policy to allow for the discount code. Make sure that if your insurer offer this advantage, you have that discount on your policy.
Renovations: There are also discounts with some insurers when there are recent upgrades on the heating, hot water, oil tanks. Inquire.
Multi Policy discounts. We have all heard about the idea that if you have all your insurance with one company, you will get discounts. You might be surprised at how this doesn't automatically get assigned every time. So make sure if you have your policies through different companies, you get quotes to see how much it would be to combine them, you will see savings. Then make sure once you have them all together, you see the discounts listed on your policy, or call to make sure they are there. This can save you up to 25% per policy. That's significant savings.
Mortgage Free Discounts. People often forget to advise when they have paid off the mortgage. When you have no mortgage on your home, most insurers give a discount - don't forget to make sure you have this , if you are entitled.
Winter Storage - People often put a car away for the winter and do not drive it at all. Did you know that insurance companies can often add a clause to your policy to limit the coverage during that time and therefore give you money back for the time the car was not on the road? A lot of people delete the insurance on their cars to save that money, however this leaves you unprotected for liability, or theft as well as many other possibilities. Find out about the storage discount, it will save you money but keep you covered.
Remember the insurance companies are very competitive and they are constantly developing plans to offer value and savings. They know no one wants to pay more for insurance than they have to. Take a few moments, review your insurance with your representative and there is a good chance they will have ways to give you great coverage while still saving you some cost.
The holidays are a wonderful time of year where people from all over the world get to take some valued time off with the family, enjoy a few days off and plan for the year ahead.
Unfortunately this time of year can be very stressful for many as we increase our expenses on vacations, gifts and events. One of the things I try and do year round is find ways to save people money on their insurance while still providing them with high value products that offer good protection.
So here are some cost saving tip ideas to ask your insurance representative about, I hope it will help you save on your insurance, and maybe even get you a refund on your annual premium if you make the changes now:
Here are some areas to explore
Children in College - you are paying a great deal for their school, take advantage of any benefits your policy may allow.
Exploring what coverages you can get for free - ex: Identity Theft, Legal Assistance, Roadside Assistance, Home Care. So many companies have come out with little mini plans to offer you these services, find out what you may already have in your policy, or what you could get at no cost, and save the cost off all your other plans (like credit card companies, banks, Roadside plans, etc).
Auto Insurance - How to cut costs, get all the discounts you're entitled to
Travel Insurance & Car Rental Insurance Learn About what is already covered on your home and auto policies so you do not have to pay more than you need when you go on vacation!
The Deductible "I am not going to have a loss, so I don't want to pay a lot on insurance" - Great plan, so consider increasing your deductible. It can make a difference.
The easiest option to save money on insurance: Make sure you have all the discounts on your policy that you are entitled to.
Remember the insurance companies are very competitive and they are constantly developing plans to offer value and savings. They know no one wants to pay more for insurance than they have to. Take a few moments, review your insurance with your representative and there is a good chance they will have ways to give you great coverage while still saving you some cost.
You do not want to find cheap insurance and sacrifice value, you want to find good products, that respond to your needs and protect you. Everyone is different, every situation varies. Make sure your insurance packages give you what you need to keep your home and family safe for the holidays and always!
You have probably heard about the option of increasing your deductible to pay less on your insurance. This works for all kinds of home, auto, watercraft insurance. Often people want the "lowest deductible" because they don't want to pay very much in the event of a loss. On the flip side, every time I sell an insurance policy people love to say "I am not going to have a loss, so I don't want to pay a lot". Well, this is a great time to reflect on how much you are paying on insurance, and if you truly do not believe you are going to have a loss, then why not take on more of the risk yourself and increase your deductible. Just ask yourself this first, if you have a loss are you able to come up with $500, $1000, $2500, $5000, etc right away to cover your part of it? If you are, and you aren't going to suffer in covering the first part yourself, then take the higher deductible and as long as you are comfortable with esentially self insuring for that first amount (the value of the deductible you choose) then you can pocket the savings on taking on the higher deductible. On home insurance for example, we often see people saving up to $500 per year for taking a $2500 or $5000 deductible.
Something to consider.
However, please do not put yourself in a financial strain to increase your deductible. The possibility always exists that you can save $500 on your insurance premium this year, and then all of a sudden, three months down the line you have a loss and you end up paying out $2500 on a deductible - or worse yet, you have a $2000 claim, and you can't get any help from your insurance. Take the time to evaluate where you are really at and make the right decision for you.
Look for discount Opportunities or Policy packages that give you advantages you need at no additional cost.
Every year we speak to our clients about kids away at school and some of the concerns that come up as a result. There are often good ways to make sure your child is fully insured, while still saving money if you manage your policies properly. Here are some common tips and things we have done to help save our clients money while keeping their kids safe. Remember that every insurance company is different, so make sure to have a discussion with your agent/broker or insurance company to find out what their policies are, they may even have more ideas to suggest!
Do they need coverage for their apartment or dorm?
Sometimes when you have kids in school you buy them tenant insurance for their apartment. Did you know that many insurance companies include coverage for dependants at additional locations? Find out if you can cover your dependents automatically through your home policy for liability and their contents without spending more!
Do you have your kids on your car insurance while they are away at school?
Many insurance companies have special codes they can put into your policy indicating that your occasional driver is away at school. Often if they are 100 miles away (for example) it is understood they will not have access to the car on a regular basis, they will only be in town for holidays, long weekends and summer, so we have insurance companies that add a 50% discount to the rates. Why not cash in on that? Speak to your insurer for ideas and details.
If your company does not offer this kind of accommodation/discount - you should ask around, its fairly common.Not all companie shave the same products or protections, it is important to inform yourself.
Finally, some insurers offer discounts when the parents and children have their own insurance, but keep it with the same company. Make sure to ask about this. Often an insurance company may forget to make the connection, why leave anything on the table?
Kids going away to school often bring up new issues with insurance, laptops to insure, liability for premises rented, how to insure roomates, travel insurance... All these things are worth discussing with your insurer. What kinds of needs have you encountered?
