Insurance Brokers help you find the right insurance policy for your needs; it’s an investment in peace of mind, and should not be a financial hardship.
Aren’t all insurance brokers the same?
It is true that there are many places to buy insurance. What sets Garriock Insurance apart is its proven record of integrity and customer satisfaction. Garriock Insurance prides itself on its half-century of service to Canadians, and continues to look for the best contemporary insurance solutions for today’s customer. As a Garriock Insurance client, you will be:
- informed of your choices,
- presented with various options,
- able to walk away with peace of mind, knowing your insurance needs are met
Should you have to file a claim, you will continue to receive our best and most compassionate service as we process your claim of loss. We will answer your questions before, during and after you purchase your policy or settle your claim.
Why do I need insurance?
“Bad things” (fire, theft, vandalism, etc) DO happen – and you need to protect your family’s or business’s investment in property and possessions from going “up in smoke”. The right insurance policy for your needs is an investment in peace of mind, and should not be a financial hardship. Garriock Insurance is committed to providing that peace of mind by helping you make the right insurance purchase that fits your needs. We will be there when you need us, with a 24-hour emergency claim number, should a “bad thing” happen to you.
What do I need to insure?
Most people insure their homes, the contents of their home, and their cars. We can help you remember the “specialty items” that you may forget need special attention – basements (water damage), boats, cottages & their contents, fine jewellery, treasured collections, fine art. In addition, we offer comprehensive Travel Insurance policies, to insure you when you are on vacation or business away from home. There is nothing we cannot insure. We work with you and your family to ensure that you will get the right policy for your individual requirements, and we will do our best to help you fully understand what is covered, and what is not.
House Insurance – are all policies the same?
Policies do differ, even if they appear similar on the surface. An “All-Risk” policy is often the best investment you can make – as these policies cover a wide range of possible claim scenarios. Your Garriock insurance specialist can explain the similarities and differences, and help you to know what is covered, and what is not, on the policy that is the best fit for you.
What may not be covered in a typical policy?
Some examples of what may not be included in a typical policy are:
- Smoke damage may be covered if from a malfunctioning heating device, but not from a fireplace.
- Vandalism may be covered if the building is usually occupied.
- Wind and hail damage to a building exterior may be covered, but not an antennae or satellite dish mounted on the outside of the building.
- Manitoba residents may want to have “sewer backup”
coverage; residents of British Columbia may want to have
- Property or materials/inventory relating your home-based or commercial business, or tools and equipment may not be covered, or covered to a limited extent.
Your Garriock insurance specialist can explain the “fine print” of your policy
to ensure you understand the extent of coverage as it applies to your individual situation.
Are “Acts of God” covered?
YES! Contrary to popular belief, many “Acts of God” are covered. Most insurance policies will cover lighting, hail damage, or a tornado striking your home. Earthquake coverage is a common exclusion in some geographic areas, but you may be able to add that coverage for an additional premium.
I have just bought a new home – when is the best time to get insurance?
Congratulations on your new home! As soon as you become a legal owner of the property, it is your responsibility to ensure that you have adequate insurance coverage. It will be a condition of your mortgage. Make sure to ask your Garriock insurance specialist if your current policy
covers your “contents” at both the old and new locations, as well as in transit. When you are moving
into your new home, you need to know that theft insurance is only applicable when the home is occupied; we can provide reduced insurance coverage for vacant buildings.
What is the difference between the “replacement value” and “actual cash value” of my possessions?
Both terms refer to the amount of money you will receive in the event of filing a claim. A deductible may apply in either case.
- Replacement Value means that typically, you will receive a settlement of your claim WITHOUT a deduction for depreciation, but you must have the property repaired or replaced with “like kind and quality”.
- Actual Cash Value refers to the cost of replacing the property with something of “like kind and quality” MINUS an allowance for depreciation.