What Is Commercial Insurance?

mcclelland insurance faq image

Commercial insurance is not a single type of insurance coverage; it’s made up of different insurance policies tailored for businesses based on their exposures to risk. Every business has unique risks and therefore needs specialized insurance package. A commercial insurance broker is qualified to determine what types of insurance coverage your business needs, based on […]

What’s An Umbrella Policy?

mcclelland insurance faq image

In addition to worker’s compensation, general liability, auto insurance and property/casualty coverage, many brokers recommend an additional layer of protection called an umbrella policy. This protects you for payments in excess of your existing coverage.

What Is Replacement Cost?

mcclelland insurance faq image

Replacement cost is the total cost that your insurance company would pay to fully reconstruct your home if it were destroyed. Replacement costs include things that may not be included in the resale value, for example: the cost of skilled labour, debris removal, extra expense due to stringent building codes, and more. If you made […]

What’s The Difference Between All-Risk, All-Perils, Designated-Risk, And Named-Perils Coverage?

mcclelland insurance faq image

All-risk coverage (also known as all-perils coverage) insures your building and/or belongings against common risks (like loss, theft, and damage due to fire) and clearly lists what’s excluded. Designated-risk (or named-perils) coverage only insures your building and/or belongings or what is clearly listed in your policy. Anything not listed in the policy is not covered, […]

What Parts Make Up A Homeowners Policy?

mcclelland insurance faq image

Although homeowners policies differ in their actual structure, most contain the same basic components: Declarations Page — usually the first page of your homeowners insurance policy, it typically contains the following summary information: – Name and address of the insured. – Dollar amount of coverage in the policy. – Description of the insured property. – […]

What Is Home Inventory?

mcclelland insurance faq image

When you purchase a homeowners policy you should create an up-to-date home inventory to expedite a claim settlement if you ever need to make one. With a complete home inventory, your insurance company can verify property easier, which makes settling your claim faster. This also allows you to easily verify losses for your income tax […]

What Are The Factors Affecting My Home Insurance Premium?

mcclelland insurance faq image

– Type of residence (single or multiple-family, rental property, condominium, mobile home). – Construction material used (brick, wood, cement). – The age, size and location of the home. – Heating, plumbing, electrical, roofing and land grading. – Fire protection (distance from a fire hydrant, nearest fire station). – Loss experience (rate of crime, flooding, fire […]

Is There A Type Of Coverage That I’m Overlooking?

mcclelland insurance faq image

Most homeowners comprehensive policies cover damage from fire, rain and wind; however a basic policy won’t cover you for flood or sewer backup damage. If you live in an area prone to flooding, sewage backups it may be very important for you to have this extra coverage. Flood, sewer back up or earthquake coverage can […]

How Long Will It Take To Resolve My Claim?

mcclelland insurance faq image

The amount of time required to handle each claim will vary based on the severity, extent and type of the property loss or damage. Some claims can be resolved in a single phone call, but others are more complex and require in-person inspections to make sure that all damages are properly identified. Your claims adjuster […]

What Is A Privacy Breach?

mcclelland insurance faq image

Any unauthorized loss, theft, access to or use of personal customer information could be considered a privacy breach. Any personally identifiable information such as: – Full name. – Driver’s license number. – Date of Birth. – E-mail address. – Login names/passwords. – Social insurance numbers. – Personal health information. – Credit card or bank details. […]

Should I Get Insurance In The Event Someone Sues Me?

Other Commercial Insurance Terms

Commercial Auto Insurance Terms

Commercial Property Insurance Terms

Commercial Liability Insurance Terms

What Does Commercial Insurance Cover My business For?

Do I Need Insurance For My Product?

If I Buy Commercial Insurance Will It Prevent Lawsuits?

Why Is My Insurance Premium Increasing?

Why Do I Need Commercial Insurance?

What Is Commercial Insurance?

What’s An Umbrella Policy?

What Is Replacement Cost?

What’s The Difference Between All-Risk, All-Perils, Designated-Risk, And Named-Perils Coverage?

What Parts Make Up A Homeowners Policy?

What Is Home Inventory?

What Are The Factors Affecting My Home Insurance Premium?

Is There A Type Of Coverage That I’m Overlooking?

How Long Will It Take To Resolve My Claim?

What Is A Privacy Breach?

What Is A Scheduled Loss and Proof of Loss?

What Is Personal Liability?

What Is Comprehensive Homeowners Insurance?

Will Working From Home Affect My Coverage?

What Factors Influence The Cost Of My Coverage?

Why Do I Need Tenant Insurance?

Why Do I Need Condominium Insurance?

What’s Considered Standard In Home Insurance Coverage?

How Does An At-Fault Accident Affect Me?

How Can I Lower My Insurance Costs?

What Influences My Premium?

How Do Deductibles Work?

What Insurance Is Optional And Not Required By Law?

What Coverage Is Legally Mandatory In Ontario?

What Should I Know About A Lapse In Coverage?

I Don’t Want To Renew My Current Insurance, What’s Next?

Why Is It Important To Pay Premiums On Time?

What Do I Need To Apply For Car Insurance?

Do I Need Car Insurance?

Do I Need Home Insurance?

What Is No-Fault Auto Insurance?

What Is Included In A Standard Ontario Auto Policy?