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May
20

Important Clauses to Remember in Your Home and Auto Policies!

By | Insurance Tips

Do a couple of weeks in the sunshine sound like a great way to recharge your batteries?  If winter travel is in your plans, whether you’re heading south, skiing, or travelling elsewhere, we would like to remind you of a few things that might impact your insurance coverage.

Your homeowner’s, condominium owner’s, or tenant’s policy will usually not cover damage caused by water pipes bursting in your home if you have been away for more than four (4) consecutive days during the usual heating season.  This time period varies from company to company.  Should your furnace stop working while you are away, the temperature inside your home can drop and freeze the water in your pipes.  If these frozen pipes burst, you will not be covered for any damages.  For coverage to continue, you can arrange for a competent person to enter your home each day to make sure all is well, or you may prefer to shut off the water supply to your home and drain the pipes before you leave.

Your automobile policy only provides insurance protection for you in Canada and the United States of America.  If you are planning on driving your vehicle to warmer climates and take a day trip into Mexico, please be aware your automobile policy will not protect you once you leave the United States.

Are you planning to rent a vehicle while in Canada or the US?  You may already have an endorsement on your auto policy that will save you the rental insurance cost.  If not, we can add it at a very reasonable cost.  In most cases, if you rent a car for more than one day, the additional endorsement will pay for itself.  This endorsement only provides coverage in Canada and the United States.

Filed Under: Insurance Tips
May
20

Do You Suffer From Road Rage?

By | Insurance Tips

Here’s How To Tell

Road rage is a serious problem on our highways and streets, and sometimes, even the most placid of drivers can experience it from time to time.  Here’s a humorous little quiz to rate your potential for road rage.

1. I Find Driving To Be:

  • Fun and relaxing
  • Relaxing when I’m alone on the road, but nerve wracking in city traffic
  • Challenging but dangerous
  • A good place where I can really let loose and express myself
  • A place where I show the rest of the world what a bunch of incompetents they are

2. My Driving Skills Are:

  • Good
  • Great
  • Better than most on the road
  • Superior
  • I am the best; no one comes close to my skills

3. You are driving down the road going your usual speed when you spot a woman putting on her makeup.  Do you:

  • Laugh and continue on your way
  • Drive by and give her a dirty look
  • Speed past her and yell ‘Forget it; it won’t help!’
  • Speed past and yell obscenities
  • Same as‘d’ but also cut in front of her and slam on the brakes

We often joke about Road Rage, but it is a serious problem.  Road Rage can result in collisions, assault, altercations, injuries, and even death.  If people drive responsibly, they can help make our roads safer from Road Rage.  Here are a few tips to help you combat the signs of Road Rage:

  • Leave your problems at home or work. Don’t let them consume you while you’re driving
  • Plan your route ahead of time so there is little frustrations with directions
  • Make several stops to refocus on long drives
  • Be courteous in busy intersections
  • Don’t get mad or retaliate towards other drivers’ mistakes

Be safe out there – and remember, if you think you’re being followed, don’t drive home – go to the nearest police station or busy public place.

Filed Under: Insurance Tips Tagged With: ,
May
20

Why Use An Insurance Broker?

By | Insurance Tips

Many people wonder about the value of using an insurance broker as opposed to dealing directly with an insurance company.

The value of objective advice

Insurance brokers are business people whose success rests on your satisfaction with your coverage, price and service. It’s in their interest to understand your needs and negotiate on your behalf for competitive premiums-even if it means approaching several companies to find the right solution. Because your broker doesn’t work for the insurance company, he or she can also assist you with objective advice should you have to make a claim.

Get informed help when you need it most

The insurance industry has become more complex with its own language of terms, legal issues and subtle details. You need a knowledgeable expert at every stage of the process to interpret all rules and what they mean for you. Your broker’s advice can also be invaluable, as your insurance needs change and your requirements become more complex.

Your broker works for you, not the insurance company. They are at your side when you buy or upgrade your insurance or if you have to make a claim.

Filed Under: Insurance Tips Tagged With:
May
20

Should I File A Windshield Claim?

By | Insurance Tips

Should I file a claim to replace my cracked windshield? I’ve heard that filing a windshield claim can raise my car insurance rates higher than what the claim amount would be.

Whether or not you file a car insurance claim to repair a cracked or broken windshield depends on a couple of factors. First, how high is your comprehensive coverage deductible? If you have a $500 deductible or higher, the cost of your windshield will not meet your deductible and you will not receive a payment from your car insurance company. But filing a claim, even though no amount is paid, will show up on your claims history.

Second, if you have a $200 or $250 deductible, you might call a glass company to see how much it actually costs to repair your windshield before filing a claim. For example, I had a windshield claim on my 2006 Honda Odyssey minivan. I filed a claim thinking the windshield would cost $400-$500 to replace. After my $250 deductible was paid, my car insurance company only paid $19! Had I known prior to filing the claim that I would only be receiving a $19 benefit, I would not have filed the windshield claim.

Third, many car insurance companies do not surcharge for glass claims. So even though my own glass claim was only $19, it will not impact my renewal rates. Both glass chip repair and replacement windshields are considered unavoidable comprehensive claims, so most insurers won’t raise your rates for having those repairs made.

Filed Under: Insurance Tips Tagged With: , , ,
May
20

How To Save on Home Insurance

By | Insurance Tips

You can save money on homeowners insurance if you know how. Discounts from your insurance company are available for a variety of reasons, ranging from the type of building material used to build your home to how close you live to a fire station. Here are some ways you can save money on your homeowners policy:

Shop around. Look for a broker that represents many different companies and is not tied to one individual company . Cornerstone partners with a wide variety of companies to offer you choice, value, and selection.

Raise your deductible. The deductible is the amount of money you have to pay toward a loss before your insurance kicks in. Typically, deductibles start at $250.

Buy your home and auto policies from the same company. Cornerstone offers a variety of multi-line discounts.

Consider insurance consequences when buying a home. If you’re looking at buying a home, think about the cost of insuring the home. A newer home’s electrical, heating and plumbing systems, and overall structure are likely to be in better condition than those of an older home. This can lead to a discount on your premiums.

Insure your home, not the land. Although your home and its contents are at risk from fire, theft, windstorms and other perils, the land your house sits on is not. Don’t include the value of the land in deciding how much homeowners insurance you need to buy.

Check your policy annually. You want your policy to reflect the value of your home and belongings. If you review your policy every year, you will be able to make the necessary adjustments. If, for example, you just sold a valuable painting, you won’t need the same amount of coverage. But if you added a garage, you’ll need to increase your coverage.

Get replacement-cost coverage. Actual-cash-value coverage reimburses you for the cost of your property at the time of the claim, minus the deductible. This can result in a lower claim payout than you expect. If your TV is worth $50, for example, that’s all you’d get to buy a new one. Replacement-cost coverage will reimburse the full value of an item based on the cost of purchasing a new one. The upfront cost is greater, but you are more likely to receive accurate compensation for your possessions.

Filed Under: Insurance Tips Tagged With: , ,
May
20

Pharmacy Technicians Errors & Omissions Insurance

By | Insurance Industry News

Important

Pharmacy E7O InsuranceInformation for Pharmacy Technician Professionals – Professional Liability Insurance is Now Mandatory.

Effective December 15, 2010 (in accordance with Bill 179, section 13.1 of the Health Professional Procedural Code (HPPC)), all members of a health regulatory college in Ontario who engage in the practice of the health profession must be personally insured against professional liability under a professional liability insurance policy.

Accordingly, OCP’s by-law is being amended to reflect that, in addition to Interns and Pharmacists in Part A of the Register, Pharmacy Technicians will also be required to maintain personal professional liability insurance coverage.

For more information about the regulation and on Professional Liability Coverage, please contact Poolmattie Balram, Client Manager, at pbalram@csib.org or 1.888.768 8001 ext. 477.

Filed Under: Insurance Industry News Tagged With: , ,
May
20

Our Company Charitable Donation Program

By | Cornerstone Company News

Introducing Cornerstone Cares

Cornerstone is very proud to introduce Cornerstone Cares – our charitable donation program!  The mission of our program is to provide necessary resources to programs that improve the overall well-being in the communities in which we operate.

As part of the program, we are happy to announce our participation in a new charity – the Moving Forward 2015 Foundation, a local York region initiative that provides assistance for domestic abuse survivors and their families.  As a volunteer organization with low overhead, The Moving Forward 2015 Foundation ensures that financial donations go directly to those who so desperately need it.

The Gift of Giving

Cornerstone CaresOn Saturday, December 18, 2010 , we were honoured to attend Moving Forward’s official office opening in Richmond Hill.  Several officials, including Vaughan Mayor Maurizio Bevilacqua were in attendance to congratulate Moving Forward.  Peter and Wendy presented our first Cornerstone Cares cheque in the amount of $2,500 to Georgina and the board.

Filed Under: Cornerstone Company News Tagged With: , ,