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Category: Auto Insurance

Red Light Cameras

How do red light cameras work?

Red light cameras are designed to photograph vehicles that enter a specific intersection after the traffic light has turned red. If you’ve been sitting in the intersection waiting to turn left since the light was green or yellow and it goes red as you’re turning, you’re probably safe. If you’re turning right at a red light, you could trigger the camera if you don’t stop and take the time to look both ways before moving into the intersection. Generally speaking, red light cameras are either mounted on a free-standing pole (...)

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Parking Lot Accidents

Parking lot accidents, who’s at fault?

Parking lots present a higher probability of being involved in an accident than other roadways or highways, particularly in winter when the asphalt is covered with ice and snow. The accidents themselves typically aren't severe given that the travel speeds, but it's still important to be extra mindful. It doesn't take a massive accident to cause extensive damage to your vehicle these days. The questions that we always get asked is, who's at fault if more than one vehicle is involved (...)

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Increasing claims costs

Increasing Cost of Claims – Top Five Evolving Risks

In 2017 the insurance industry paid out $1.33 billion following a catastrophic event relating to climate change. This is the fifth time in seven years that the industry has paid over $1 billion annually for climate related losses. There are so many factors that contribute to these increasing losses that it's hard to pinpoint one issue. For water, people are finishing their basements more often, and weather events are becoming more frequent, resulting in catastrophic water losses. Thunderstorms with hail is another catastrophic event that can quickly add up, especially when gold ball sized hail is pouring down on a large city center (...)

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third party liability

Third Party Liability Explained – Auto Insurance

Third Party Liability Coverage protects you if someone else is seriously injured or dies, or if their property is damaged, caused during the use of your vehicle. Your liability coverage will pay for accident benefits, medical costs, lawsuits and damages awarded to the injured party, but it will only pay up to the amount of coverage you have chosen. You can choose the amount of your liability coverage depending on what makes sense for your situation (...)

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Common Auto Insurance Endorsements, and What They Mean

Auto insurance is designed to protect you and your vehicle when you need it most — but all policies have limits and exclusions, and you may want to add extra coverage to make sure you’ll always be protected. The province of Ontario mandates that you carry the minimum coverage, which includes third party liability coverage, statutory accident benefits coverage, direct compensation coverage, and uninsured automobile coverage. However, there are situations where you will want or will be required to have additional coverage, often in the form of endorsements. In the insurance world, an “endorsement” is a change to the coverage outlined in your insurance policy (...)

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No-fault Insurance

What is “no-fault” Car Insurance?

If you think having “no-fault” car insurance coverage means you’ll never be considered “at fault” for an accident, you’re not alone — that’s a pretty common misconception. But in the insurance world, “no-fault” means something a little different. “No-fault insurance” is the term used to describe the car insurance system that’s in place primarily in Ontario, Nova Scotia, New Brunswick, and PEI. The official name for this coverage is Direct Compensation Property Damage (...)

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myDriving App FAQ

Intact’s myDriving Application – FAQ

Intact's myDriving discount has been around for quite some time monitoring your braking, acceleration, and what time your drive your vehicle. Previously this information was tracked via a plugin device that was installed into your vehicle, but as of recently this data can now be tracked through a cell phone application. The application allows you to view a road map of each trip you take, including any events (hard braking, rapid acceleration, driving during high risk periods), and see your potential savings (...)

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eSlips Could Be Arriving Soon in 2017

With the digital transformation of our society and the insurance industry alike, it's been a long time coming that we would be able to use electronic insurance slips (eSlips). Most insurance companies allow you to view your insurance policy online via your smart phone or computer, but in 2017 you'll have the option have your insurance slip in your phone, and not your glove-box. If you get pulled over by the police for example, and are required to show proof of insurance, you can simply show them your phone (...)

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Home Business Insurace

When Does Your Home Business Require Insurance?

Many Canadians operate businesses out of their homes. What they may not know is that there are exposures that go along with these businesses, no matter how small. These exposures may not be covered by their homeowner's or renter's policy. Your homeowner's or renter's policy is intended to protect your personal interests only. Therefore, any exposure relating to a business is not intended to be covered by the policy (...)

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