Here at AAIMSAFE, we like to keep you informed, after all this is YOUR insurance.  These are some common question posed to us by our clients so we have compiled them here for your easy access.

When I rent a car, do I need to buy insurance sold by the rental company?

  • That depends, if you have the OPCF 27, liability for damage to non-owned vehicles, this coverage would cover you for any damage occurring to a vehicle you are driving that you do not own, most commonly a rental car. This coverage can easily be added to your policy, just speak to your broker.


How much insurance coverage should I buy for my house?

  • Your home should be insured to full rebuild value, this will ensure that if you face a loss, you will be fully covered for the full cost of the repairs or replacement.  If your home is only insured partially to value, it could result in a partial payout of a claim.


Is my son’s property covered while he’s away at college?

  • If you have property insurance (homeowners, condo or tenant) we can arrange to extend coverage to your child's location at school


Do I need liability insurance for my business?

  • Although legally you might not need liability for your business, your clients or customers might require it in the contracts you sign. But beyond that it makes sense to protect your business, your property, your income and your employees with commercial general liability and a host of other options to fully protect the business you worked so hard to create.


How much life insurance do I need?

  • This is a very personal question, and we would be happy to help you discover how much life insurance you do need, but a good start would be enough to cover any debts, like mortgages or loans.  This will help to ensure you loved ones are not burdened by financial insecurity after having to deal with losing you.  Again, this is something we would love to discuss and build with you.


How is my premium rate determined?

  • Automobile premium levels are affected by many factors, such as:

                 ways you use your vehicle (Do you use your vehicle just for pleasure? Do you drive to work or do you use your car for business?);
                 the type of vehicle you drive;
                 the year, make, model and body type of your vehicle;
                 the approximate number of kilometres
                 you drive your vehicle annually;
                 who will be driving the vehicle;
                 the age and driving experience of each driver in the household (Are drivers under age 25 male or female?)
                 how much each driver will be using the vehicle;
                 the claims and accident history for each driver over the last six years;
                 each driver's conviction record for the last three years; and
                 whether any driver in the household has had a licence suspension or an automobile policy cancelled in the last six years.


Am I covered if I am driving in the US?

  • Yes, your Ontario auto policy covers you throughout Canada and the United States. This is how it works:
    US accidents – injuries
    Your Accident Benefits coverages are portable throughout Canada and the USA. The restriction of being able to launch a lawsuit only if injuries exceed the threshold does not apply to accidents outside Ontario. The law that applies is the law of the jurisdiction where the accident occurred. US accidents – vehicle damage                                                                                                                                                                        Damage claims in the USA are handled the same way as they are in Ontario, except the Direct Compensation system does not apply outside Ontario. Vehicle damage caused by an insured at-fault driver is paid by the insurance company insuring the at-fault vehicle, not by your own insurance company.


What does no fault auto insurance mean?

  • Ontario has a "no-fault" car insurance system, but this does not mean that no one is at fault in an accident. The term "no-fault" insurance simply means if you are injured or your car is damaged in an accident, then you deal with your own insurance company, regardless of who is at fault. You don't have to go after the at-fault driver for compensation.

 

Frequently Asked questions