Contact Your Insurance Broker If

Expert Tips

Updating your insurance may be the last thing on your mind if you’re experiencing a life change, but it can be an incredibly important step to keeping your financial future secure. Sometimes a quick phone call can help you save money on your insurance bill or keep you covered in the event of a loss.

New vehicle coverage

Purchasing or leasing a vehicle is a great time to update your auto coverage. New vehicles come with a variety of safety measures that may save you money on your monthly or quarterly insurance bill and failure to quickly notify your insurance company of a change could nullify your current coverage in the event of a loss. Liability coverage is required in many provinces, and keeping your minimum coverage can relieve you from paying hefty fines in the event of an accident or traffic violation.

Changing jobs or working from home

You may not realize it, but working from home can cause changes not only to your homeowner’s policy but also to your auto insurance policy as you may be driving less (or more!) from your previous habit. There are also specific exclusions in a standard homeowner policy so your business equipment may not be covered. Changing your job circumstance is a great time to review your policy to be sure it fits your current reality.

Home improvements

Adding significant value to your home can impact the replacement cost, and you want to be sure that your insurance is up to the task of covering your additions. Expanding porches or patios, updating a bathroom or a kitchen, finishing your basement and even installing additional fire control measures can all impact your coverage level. Replacing siding or a roof and adding a swimming pool are some other times that you will want to keep your insurance broker in the loop.

Life changes

Significant life changes such as marriage, divorce, the birth or adoption of your child or even when your grown child or elderly parent moves back in with you are all times to review your current coverage levels. Survivor insurance can change with any of these life events, as well as auto insurance and liability levels. It is always best to seek your insurance broker’s insight when change is on the horizon. Merging and separating households, salary or commute changes, or moving to a new home - these are all reasons to make a quick call or visit.

Theft or loss

No one likes to think about theft or loss of property, but when it happens you want to know that your insurance will keep you covered. After reporting the loss to your insurance broker may be a good time to review your coverage levels overall and be sure you are insured for future eventualities.

All it takes is a quick phone call to your insurance broker from Rowat Insurance to make sure your coverage suits your lifestyle and needs at all times.

Rowat Insurance

Insuring Ontario and Quebec since 1955. Trust Rowat Insurance Brokers to look after your home, auto, business and life insurance needs. We always guarantee fast, friendly service and highly competitive premiums. As brokers, we are entirely independent from Insurers and Financial Institutions; we will work with you to analyze and advise on risk, and customize the coverage that is right for you.