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.

Realty Insurance

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Newfoundland Rental Property Realty Insurance

As a building owner, you are in the business of providing people a home or a place to do business. You face many challenges, finding the right tenants, dealing with up keep and maintenance, while at the same time trying to grow your business. Realty insurance whether it be for a rental home, an apartment, condo or commercial space, can be a daunting task.

You need to protect your financial interests. At Crosbie Job Insurance it is our job to work with you to make sure that you are covered. We will work with you to tailor your insurance policy to meet your needs.

Realty – Not Just Property Insurance

We will work with you to determine the best policy for you. You will need to consider:

Property Values

Do you want Replacement Cost or Actual Cash Value

Property Coverage Types

Comprehensive or Broad Form, or Fire & Extended Coverage

Liability Limits

Owner Landlords Liability or a CGL

Boiler and Machinery

Do you have some special equipment Business Interruption or Rents Coverage

Our Commercial Insurance Brokers are the experts in Newfoundland when it comes to Realty Insurance. We work with you to understand your company’s specific needs. You can sleep easy knowing we’ve got you covered. Whether its general liability, physical damage to buildings, lost rental income, equipment breakdown (boiler & machinery) etc, we will tailor an insurance policy to provide you with the ideal level of coverage for your rental property operations.

Newfoundland Realty Insurance makes sense for anyone who owns a rental property because it will protect your investment and your future. You have worked had to acquire these properties and secure a stream of income from them; don’t take a chance let our commercial account managers look after you.

Here are two reasons to get started right now!

There's no time like the present to make sure your income source is protected--cover your apartments, rental properties, etc from disasters, lawsuits and income loss.

A no-risk quote can give you peace of mind right away. Just fill out the Quote Form and we'll get back to you with the exact coverage you need and a very affordable quote.

Protection you deserve

Get A Quote

Newfoundland Rental Property Realty Insurance

Realty – Not Just Property Insurance

Property Values

Property Coverage Types

Liability Limits

Boiler and Machinery

Here are two reasons to get started right now!

There's no time like the present to make sure your income source is protected--cover your apartments, rental properties, etc from disasters, lawsuits and income loss.

A no-risk quote can give you peace of mind right away. Just fill out the Quote Form and we'll get back to you with the exact coverage you need and a very affordable quote.

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Our Team

Newfoundland Rental Property Realty Insurance

Realty – Not Just Property Insurance

Property Values

Property Coverage Types

Liability Limits

Boiler and Machinery

Here are two reasons to get started right now!

There's no time like the present to make sure your income source is protected--cover your apartments, rental properties, etc from disasters, lawsuits and income loss.

A no-risk quote can give you peace of mind right away. Just fill out the Quote Form and we'll get back to you with the exact coverage you need and a very affordable quote.

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