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.

Environmental Insurance

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Newfoundland Environmental Impairment Liability Insurance

General contractors, subcontractors, environmental consultants, construction managers and tank installers face a large number of risks that are related to their business operations. These risks include accidental fuel oil release, contaminated soil disposal, toxic gases and chemicals from broken pipes, mobile or stationary fuel tanks and utilities. Environmental Impairment Liability (or EIL) Insurance provides coverage for a wide range of pollution risks.

Environmental liability exposures are becoming more prevalent. As the world continues to evolve, awareness of environmental liability impairment is on the rise. If your business operations can result in you being held accountable for pollution or pollution escape, then you need to get Newfoundland EIL Insurance.

Environmental Impairment – The Basics

Pollution Liability Insurance coverage is designed to help you manage the expenses that are associated impairment cleanup and liability claims. There are numerous types of environmental insurance available but, generally you can find them landing in two categories:

Site-specific coverage

These policies provide cleanup and third-party liability coverage for premises owned or operated by the named insured. Typically, the types of policies that are offered here include:

Environmental Cleanup and Liability Insurance for Premises
Environmental Cleanup and Liability Insurance for Storage Tank

Operations coverage

These policies provide cleanup and third-party liability coverage arising out of operations performed at third-party job sites by or on behalf of the named insured. Typically, the types of policies that are offered here include:

Environmental Liability Insurance for Contractors
Environmental Package Insurance for Contractors and Consultants

These policies provide coverage for contamination of property, groundwater or soil due to pollution. Coverage may be provided for airborne contaminates, such as emissions and smoke as well. In addition, some policies are available that will even protect against pollution that took place in the past prior to the hazardous affects becoming known.

If something like this does happen, it can be very expensive. Your company could be forced to pay substantial fines and cleanup costs because of the resulting mess. Newfoundland EIL Insurance coverage will protect you against the costs associated with such instances.

At Crosbie Job Insurance we know that environment insurance is complex and we can tailor an insurance solution that is right you.

What’s Covered?

Typically your Pollution Liability Insurance policy will provide coverage for:

Expenses required for cleanup

Compensatory damages

Expenses incurred during a voluntary cleanup

In some cases, legal defense fees and court costs will also be included in the coverage. If you work on property owned by others and the work you do involves the use of materials that are later determined to be harmful, then you might be found liable. Contractors EIL Insurance will protect you and your company against claims for injuries and bodily harm.

It is important for you to discuss with one of our Commercial Insurance professionals at Crosbie Job Insurance to determine what coverage you actually need.

Regardless of the size of your business, if you have operations that could impair the environment then you need to get Pollution Liability Insurance. Fortunately, this specialized insurance is available to meet the needs of your business.

As a leading brokerage in Newfoundland, Crosbie Job Insurance works with many of our clients to ensure they are protected from environmental exposures. Our producers work with you to make sure that there are no gaps in coverage. The cost of insurance is minimal when you consider the amount of money that you might have to pay without it. To find out more about the coverage required for your particular business, fill out our simple Quote Form. One of our brokers are standing by to help you.

Protection you deserve

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Newfoundland Environmental Impairment Liability Insurance

Environmental Impairment – The Basics

Site-specific coverage

Operations coverage

What’s Covered?

Expenses required for cleanup

Compensatory damages

Expenses incurred during a voluntary cleanup

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Newfoundland Environmental Impairment Liability Insurance

Environmental Impairment – The Basics

Site-specific coverage

Operations coverage

What’s Covered?

Expenses required for cleanup

Compensatory damages

Expenses incurred during a voluntary cleanup

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