What Insurance Coverages are Mandatory for Automobile in NL?

Third-Party Public Liability at $200,000 and Uninsured Motor Coverage are the mandatory coverages. Although $200,000 is the required minimum, many insurers do not offer this limit as it viewed as too low in the context of our society. At Crosbie Job Insurance, we would recommend $1,000,000. We also highly recommend that all insured people carry accident benefits coverage. Physical damage to your automobile is optional, although if you lease or have a loan on the car, your lender/leaser will require physical damage coverage.

How Much Liability Coverage Do I Have To Carry?

In Newfoundland and Labrador, you are required to carry $200,000 in liability coverage. At Crosbie Job, we recommend that you carry $1,000,000 (if you have a lease on your carry, the leasing company will require $1,000,000).

What Are The Benefits of BCPD?

This system was set-up so people can quickly go through the claims process with their insurance provider. You don’t have to wait too long to get your compensation.

What Is Direct Compensation For Property Damage?

Direct Compensation For Property Damage (DCPD) allows people who have auto insurance to be compensated by their direct insurer for property damages resulting in a collision caused by another driver.

Is DCPD Available in Newfoundland and Labrador?

Yes, DCPD is now available in Newfoundland and Labrador! Before it was only a system that was used in Ontario, Nova Scotia, Quebec, and New Brunswick, but Newfoundland and Labrador have adopted the system used by Nova Scotia.

Do I Really Need Auto Insurance?

If you drive in Canada, you are required by law to have some sort of auto insurance coverage. A basic policy should include third party liability insurance (usually needs to be at least $200,000), uninsured automobile coverage, and accident benefits insurance. In Newfoundland and Labrador, it is not required to have accident benefits insurance, but we highly suggest you include it in your insurance policy.

What Affects My Insurance Premiums?

Whenever you make a claim on your home insurance or if you get a ticket while driving, it will affect your insurance premiums. Your rates will change depending on the type of claim and if you were at fault or not. For example, if you get into an accident, it may affect your premiums for a number of years; if you get a ticket for careless driving or a DUI, it will affect your premiums for typically three years. These are just some of the most common ways your premiums can get affected, contact Crosbie Job today to learn more about the inner workings of insurance and what may determine your rates.

I Run My Business Through My Home, Will This Affect My Insurance?

A lot of people have made the switch to work from home, so they are curious about how their insurance will be affected, if at all. It is best to speak with a broker about this aspect because running a business through your home will generally affect your insurance, but it may affect everybody differently. Some people may have limits on their business property, such as computers, equipment and software, while others may require additional liability insurance. Talk to your broker today to discuss if home business coverage will be the best option for your needs.

Earthquake Insurance - Crosbie Job

Earthquake Insurance

Clients often ask if I personally carry earthquake insurance and the answer is a resounding YES! I’ve seen the losses, emotional and financial, that earthquakes cause. I sincerely believe that reimbursement from an earthquake policy may mean the difference between despair and hope for many families after the “big one.”

Watching the news reports on Hurricane Katrina, and just recently on the unprecedented flooding in the Midwest, how can I possibly recommend that my clients rely upon FEMA to help them rebuild their homes and their lives?

I am thankful that I have a financially strong and viable insurance solution that will allow families to re-establish their lives as quickly and completely as possible after a disaster.

Earthquakes can strike anywhere, anytime, and without prior warning – and your best bet is to make sure that you and your family are prepared in case an earthquake happens.

Disaster preparedness starts with education:

Make sure that your family, and especially your children, know where to go should an earthquake occur. The best bet may be to “Duck and Cover” under a sturdy, heavy piece of furniture.

Be patient and wait in your hiding place for several minutes after an earthquake, since aftershocks may occur.

Teach your children that it’s OK to stay at school or daycare, after an earthquake strikes, and that you will pick them up as soon as it’s safe.

Have one or more disaster kits ready in your home, car, and in a safe place outside your home. To learn what should be included, visit www.fema.gov or www.ready.gov.

If your home was built before 1980 there is a chance that it may not be “retrofitted”, i.e. your foundation may not be bolted. In case of a quake this may cause even more damage to your house. Call us for more information on how to get your home prepared for an earthquake.

Keep in mind that a standard homeowners policy does NOT cover any damage caused by an Earthquake. If you would like to insure your home for earthquake damage, we can help! We offer unique stand‐alone earthquake insurance coverage that supplements your homeowners policy.

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