F.A.Q.

We have purchased a new vehicle, will the dealer take care of everything?

We would ask that you give our office a call to advise us of the new vehicle information, even if your dealer has said they will do it for you.

I want to change the bank account which my insurance payments are withdrawn from, how far ahead of time do I need to call.

Please give our office a call at least 14 days ahead of the withdrawal date. We will need a new void cheque and a new authorization form signed.

What’s the difference between a broker and an agent or direct writer?

A broker is an independent representative that will have a selection of insurance carriers as it’s partners. These partnerships provide you the client with a choice in your insurance needs. An independent broker will shop all it’s carriers to ensure you receive the best coverage for the best price. An agent or direct writer only has access to one market, thus removing the choice to you the customer.

Why do I need business insurance?

Business insurance is essential to ensure long term sustainability of your business and it’s assets. Conestoga Insurance realizes that commercial insurance can be complicated depending on the nature of your business. We need to protect our clients from physical and economic loss. There are more variables and potential risks, which allows us to be creative with coverage solutions in order to meet your business insurance needs.

What do I do if I miss a payment on a monthly payment schedule?

Please advise our office immediately as each monthly payment plan varies depending on the insurance company. By contacting our office immediately, we can advise you the best course of action.

When I purchase a new home, what is required?

When purchasing a new home, please contact our office to advise the closing date and legal counsel that you have retained. Our brokers will need the pertinent information with respect to the details of the house in order to determine the proper rebuild value.Our office will then provide you with a quote and coordinate with your lawyer, providing the necessary binder insurance information required in order to close the sale.

My son or daughter is turning 16 and getting his or her G1 license. Do I need to add him or her to my policy?

Under the graduated licensing program a G1 license permits a driver to only operate a motor vehicle with a 4 year licensed driver. Therefore, a G1 licensed driver does not need to be added to your policy. However, when the G2 license is obtained, the individual has to be added to the policy as an operator.

What does liability insurance coverage with respect to my business?

Liability insurance is an essential coverage for a business of any size. Commercial liability insurance covers you and your employees actions that result in bodily injury or property damage to third parties. Claims of this nature can vary in size but without liability insurance your business would have to defend these type of claims on it’s own or you as the owner could be personally sued. (Obtain a quote for your business insurance needs.)

If I get in a car accident, what do I need to do?

When an accident occurs, the first action should be to ensure that there are no injuries to you or your passengers. If you suspect there are serious injuries, please contact the appropriate emergency response agents. It is important to obtain the insurance information of the party involved in the accident. Items such as name, address, phone number, drivers license number, insurance carrier, policy number, make & model of the vehicle are all essential information to obtain. After this information has been obtained, review the claims process.

If I have a claim at my home or place of residence, what do I need to do?

When you suspect that there is a claim involving your home or place of residence, the first action should be to ensure that there are no injuries to you or the other individuals in your dwelling. If you suspect that there are injuries or emergency services need to be contacted, please do that first. Review the claims process.

If I have a claim with regards to my business, what do I need to do?

When you suspect that there is a claim involving your business, the first action should be to ensure that there are no injuries to you or the other individuals in your business premise or as a result of your actions. If you suspect that there are injuries or emergency services need to be contacted, please do that first. Review the claims process.

Is there a charge to go on monthly payments?

For the majority of companies there is a 3% annual service charge to go on monthly pay plan. When setting up a new policy, your insurance broker will disclose all premiums and charges you can expect to pay. You will always receive a payment schedule with your policy declarations, changes or renewal, if you have chosen a monthly pay plan.

If I have a coverage question, who do I talk to?

At any time if you have a coverage question or require clarification of what your policy covers, don’t hesitate to contact your insurance broker to review the policy and walk you through the extent of coverage you have.

What’s the difference between rebuild value and retail value of my home? How is this number determined?

In the insurance industry, the rebuild value of your home is the insurance value of your home. This value differs from the retail or market value of your home. The rebuild value of your home is the contracting cost it would take to rebuild your home in the event of a total loss. Conestoga Insurance uses an industry standard evaluation tool to determine the proper rebuild value of your home. Taking pertinent information with respect to the home, using the industry standard program, we can determine the proper rebuild value of your home. We understand that your home is one of your primary fixed assets, so insuring it properly is first priority.

What does accident protection cover? Is this a coverage that I need?

Accident protection is an essential coverage with respect to auto insurance. Our office will be able to advise if you qualify for this coverage. This coverage waives the rating effect of your first at-fault accident. Charges vary by company. Our office reviews your policy on an annual basis and will make coverage suggestions when appropriate.