Question 1

Am I covered if I operate my business out of my home?

Accepted Answer

Depending on the nature of your home-based business there are two coverage options available to you. A home business extension can be added to your current home insurance policy to offer protection for home-based businesses that have low risks and where customers do not visit the premises.

For larger-scale operations, with expensive business property, and which could be at a higher risk of a liability claim, a commercial insurance policy is required. To learn more, read our home-based business insurance blog post.

Question 2

Does BrokerLink offer customized coverage tailored to my businesses specific industry?

Accepted Answer

At BrokerLink, we recognize that each industry has exposures to unique risks. You should never buy a one-size-fits-all insurance package off of the shelf. In order to ensure your business’ insurance needs are properly met, we have brokers that have commercial insurance expertise in the following areas:

Healthcare services
Construction
Transportation
Oil and gas
Hospitality
Real estate and property management
Manufacturing

These are just a few of the industries we can create customized insurance solutions for. Speak with your BrokerLink broker today to learn more about industry-specific insurance coverage.

Your insurance coverage should be as unique as your business. As many businesses have unique coverage to meet different needs, these answers provide a general overview on important details and options that apply to multiple industries. For a customized review of your business insurance needs, we recommend speaking with a BrokerLink commercial insurance broker.

Question 3

Am I covered if I lend my vehicle to my neighbour or friend?

Accepted Answer

Yes. When you lend your car, you lend your insurance too. In the event of a loss or incident your policy will cover any damage. However, if you are deemed at fault in the incident, your policy premium could be affected by the claim for up to six years.

Question 4

Am I covered by my policy for a rental car?

Accepted Answer

Yes. In most cases your current auto policy will automatically extend accident benefits and third party liability coverage to a rental car. Physical damage to the rental vehicle can also be covered if you have the same coverage on your current auto policy. To learn more, check out these details of rental vehicle coverage.

Question 5

Am I covered if I hit an animal on the highway?

Accepted Answer

Yes – if your auto policy includes comprehensive coverage. Comprehensive auto coverage provides additional protection for your vehicle including break-ins, flood and water damage, fire and falling objects. Comprehensive coverage is not mandatory to include in your insurance, however if you are driving a leased or financed vehicle you may be required to purchase it.

Question 6

Does my home insurance cover if someone slips on my front sidewalk?

Accepted Answer

Yes. Your homeowner’s policy covers you for incidents of liability in-and- around your property subject to the bylaws of your city. You can be proactive by properly removing snow and ice on your property.

Question 7

Does my home insurance cover if someone steals my luggage while I'm on vacation?

Accepted Answer

Yes. Your homeowner’s policy covers your possessions anywhere in the world for insurable losses.

Question 8

Does my home insurance cover if I renovate my home?

Accepted Answer

No, your policy does not automatically cover work being done to your home. You should speak to an insurance broker prior to beginning any home renovations to ensure your insurance provider covers your renovations and to inquire if you require any special coverage.

Question 9

Does my home insurance cover if I experience a flood?

Accepted Answer

No. flooding is excluded under home insurance and property insurance policies. If you are worried about flooding at your property, speak with an insurance broker to discuss your coverage options. When it comes to flooding it’s good to be proactive. Our tips can help prevent spring flooding and sewer back-up.

Question 10

How much does car insurance cost in Alberta?

Accepted Answer

Many factors can affect what you pay for insurance. Your driving history, your age, marital status and where you live are just a few of the things that impact your rate. It's hard to give a range or average price because it can vary so much from person to person.

Generally speaking, if you live in a city like Calgary or Edmonton, you are going to pay the most for your car insurance because of factors such as population density. In highly populated places, insurance rates tend to be higher because more people means more vehicles on the roads and, as a result, more claims being filed and more payouts having to be covered by insurance companies.

Your best bet is to call a broker. We can learn about you and your driving history. We can explain the different levels of coverage and what they mean. Together, we can find an insurance plan that makes sense for your life.

Question 11

Is life insurance taxable in Canada?

Accepted Answer

Most income gained from a life insurance policy in Canada is not subjected to income tax, regardless of the size. However, there are a few exceptions. For example, if you have not named a beneficiary, your death benefit will automatically be added to your estate. In this case, your death benefit may be subject to taxation. However, this is easily avoided by naming a beneficiary. To learn more about life insurance in Canada, speak to a BrokerLink broker.

Question 12

How do I choose a good insurance broker?

Accepted Answer

Having an insurance broker in your corner can help you get the right insurance plan. To choose an insurance broker, make sure they have the required license in your province. (For example, in Ontario, insurance brokers require a RIBO license.) Check out their website and Google reviews to make sure they are reputable. Ask friends and family for recommendations. Most brokers will offer a free, no-obligation quote. Use this as an opportunity to ask questions and make sure you feel comfortable with the broker.

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FAQs

Am I covered if I operate my business out of my home?

Does BrokerLink offer customized coverage tailored to my businesses specific industry?

Am I covered if I lend my vehicle to my neighbour or friend?

Am I covered by my policy for a rental car?

Am I covered if I hit an animal on the highway?

Does my home insurance cover if someone slips on my front sidewalk?

Does my home insurance cover if someone steals my luggage while I'm on vacation?

Does my home insurance cover if I renovate my home?

Does my home insurance cover if I experience a flood?

How much does car insurance cost in Alberta?

Is life insurance taxable in Canada?

How do I choose a good insurance broker?

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FAQs

Am I covered if I operate my business out of my home?

Does BrokerLink offer customized coverage tailored to my businesses specific industry?

Am I covered if I lend my vehicle to my neighbour or friend?

Am I covered by my policy for a rental car?

Am I covered if I hit an animal on the highway?

Does my home insurance cover if someone slips on my front sidewalk?

Does my home insurance cover if someone steals my luggage while I'm on vacation?

Does my home insurance cover if I renovate my home?

Does my home insurance cover if I experience a flood?

How much does car insurance cost in Alberta?

Is life insurance taxable in Canada?

How do I choose a good insurance broker?