Car insurance add-ons: Some of the must-have add-on covers during monsoon season are — engine protection cover, zero depreciation cover, 24×7 roadside assistance, return to invoice and consumable covers. Before you buy add-on covers, you must take a look at how much they cost and how much you will save during monsoon. Read on
Last winter, Gaile Simpson let two unhoused people take shelter in her garage. A fire lit inside the garage got out of control and burned it down, bringing costly consequences.
As weather events and wildfires become increasingly extreme and frequent, insurers in Canada are finding it more difficult to keep coverage affordable.
Unless you have certain specific add-on covers, your insurer will not pay a penny to fix your car engine if damaged due to waterlogging. Add-ons are optional coverage that can be added to a comprehensive car insurance policy to enhance its coverage and provide additional protection. Here are the four add-ons that are a must to protect your car from rain damage.
Most insurance companies have “catastrophe teams” that they send to affected areas to help people file claims in person, according to the Insurance Bureau of Canada.
Flooding is the biggest under-insured climate risk in Canada, said Victor Adesanya, vice-president of insurance at DBRS Morningstar, especially during the spring thaw.
A Calgary family is homeless after fire tore through their home. They lost two dogs, all their possessions and a home business in the fire.
The ‘Pay As You Drive’ insurance product is a comprehensive own damage (OD) plus third party (TP) policy. There are two basic types of ‘Pay As You Drive’ policies — one is based on the kilometers driven and the other is the number of days the insurance policy is on, said experts. Who should opt for ‘Pay As You Drive’ insurance? ET Wealth Online explains
The manufacturer, model, and attributes of the car are some other criteria that affect the cost of auto insurance.
In order to allow the policyholders a wider choice, IRDAI has proposed to permit all general Insurers to offer long-term motor insurance policies — a) 3-year in respect of private cars co-terminus with motor Third Party Liability cover, b)5-year in respect of two-wheelers co-terminus with motor Third Party Liability cover.
