Personal Insurance Explained

This endorsement protects the renewal premium from increasing as a result of an at fault accident involving the vehicle to which the endorsement applies.

 

Not all drivers qualify for this endorsement which is why it is not typically added automatically to automobile policies. This can usually be added for a small fee subject to the driver being eligible. We recommend that you speak with your broker should you wish to add this endorsement to determine whether it is an option that is available to you.

 

Should you have one at fault accident, your driving record would be downgraded; depending on what level it is downgraded to, this could affect (increase) your premium for the following year.

Applicable laws may require you to rebuild 100% of the house if it has suffered damage to more than 75% (or less) of the property. By-Laws would provide for demolition and removal of the undamaged portion and provide coverage for any improvements required by law.

 

For Example – Your replacement cost has been calculated at $400,000 for your home, which means that if there is a total loss (fire for example), it will cost $400,000 to rebuild however, laws and regulations can change. Say, for example, your house was built in the 1960s and it has recently burnt down in a fire. Since the 1960s a law has been implemented stipulating that certain materials that were used to build your home are now prohibited and the required materials are more costly. This extra cost is not covered in the $400,000 which means that you are, technically, uninsured for these extra costs. By-Laws coverage would pay for this enhancement to your house as it is required by law.

 

If your house no longer conforms to zoning by-laws (located in an area which is now zoned as business property only for example) which could affect any repairs or replacement, speak to your broker about whether By-Laws coverage would include relocation to a residential zoned location. Insurers vary widely in this respect and we encourage you to discuss this with your broker should you find yourself in this situation.

 

Insurers vary in this respect, while some include By-Laws coverage automatically; others charge a small fee to add this to your policy.

 

In the example above you would be responsible for paying the increased cost of enhancing the property by using these new materials and / or the cost of relocating to a new area, which could amount to tens of thousands of dollars, if not more.

 

Ensure the replacement cost for your house is up-to-date, this will reduce the risk of underinsurance overall. Also, consider the small fee (if this cover has not been automatically included) for By-Laws cover.

This endorsement provides limited coverage for all glass on a vehicle and, in addition, vandalism to windows other than the front windshield.

 

This coverage, as it limits or restricts what is covered under your traditional automobile insurance policy, will reduce your automobile insurance premium.

 

WFG recommends this coverage for drivers who want to keep their premiums down and prevent increases in premium caused by multiple glass claims.

 

This coverage is not automatically included in car policies and is not available for certain types of automobiles; it is also not typically available with Comprehensive coverage where the deductible is greater than $250. This coverage must be requested when you set up your insurance policy or at renewal.

 

If you choose not to take the limited glass waiver, your premium will be higher to reflect the enhanced coverage.

 

If you choose to add this endorsement to your policy, you may wish to purchase a separate glass insurance policy. These policies have been developed by insurers and tend to be offered at a lower rate than if it were to be covered on a standard car policy. Any claims made on a separate glass policy would not affect your car insurance claims free discount. We recommend that you speak with your broker to see what options are available to you.

 

Family Protection (SEF 44)
Definition
This endorsement provides protection to the insured, their spouse and certain other relatives should they suffer bodily injury or death caused by an inadequa