2/29/2012 1:40 PM

Does having a home business affect my insurance?

Posted By  MIS Blog

The short answer is yes, and the best way to know what is covered is to talk to your broker.

More and more people are starting home-based businesses, for everything from marketing homemade products to keeping a home office for a consulting business. From an insurer’s perspective this adds new types of risk to your home, and therefore, may require additional insurance.
 

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2/22/2012 9:04 AM

Home and Business Inventory

Posted By  MIS Blog

When it comes to insurance, there are many details and requirements that are not often thought of until you are faced with a crisis situation, at which point it is often too late. One such detail is that you are required to provide a schedule of contents lost or damaged as part of a claim. This schedule requires information such as: -    A description of the item(s); -    Date purchased and where the item(s) were purchased; -    Purchase price; -    Current replacement cost; On the surface, this seems like a pretty straightforward and simple task, but disasters always have a tendency to strike when least expected. Imagine coming back from vacation to your home or business and finding nothing but a pile of burnt rubble. Once the initial steps in the claim process have been taken care of, you will now be required to provide a list of items lost in the claim. Where do you begin and how are you going to ensure that you are fully indemnified for ... Read more
2/15/2012 10:33 AM

After Market Electronic Equipment

Posted By  MIS Blog

How many times have you been sitting at an intersection waiting for the light to change when a car pulls up next to you with a stereo on so loud you can FEEL it? Look closely and you might even find “Brand Name” decals on the windows advertising the manufacturer of the powerful stereo. From an insurance perspective, these decals literally shout, “Steal Me!”.                   
 

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2/8/2012 9:55 AM

How can I reduce the risk in my business?

Posted By  MIS Blog

A risk management program is the best way to systematically reduce the impact of risk.

An experienced commercial broker knows how to identify and manage many of the risk factors in your business and translate that knowledge into a cost-effective risk management program.
There are four key steps.

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2/1/2012 1:49 PM

A Covered Caregiver Under Ontario's New Auto Insurance

Posted By  MIS Blog

Are you a caregiver for others in your household such as children, an elderly parent or someone with a disability? You should be aware that recent changes to your auto insurance in Ontario will affect your coverage and how you are protected in such a role. In the past, if you were injured in an automobile accident and unable to care for dependents in your household, your policy would provide $250 per week, plus an additional $50 for each additional dependent. These benefits help cover costs related to hiring someone to care for your dependents. More importantly, benefits were paid regardless of the degree of injury you suffered. Changes are coming into effect for your auto policy when it renews, beginning September 1st, 2010. That means you now have choices to make. Come September 1st, the standard caregiver benefit included with your auto policy will only provide compensation if you suffer a catastrophic injury. If you are a caregiver in your household, you should strongly consider purchasing the higher ... Read more