We’ve got answers to all your burning questions.
A deductible is the amount of money you must pay out of pocket to cover damages. Your insurance provider will pay for all covered costs beyond your deductible. For example, if your policy has a $500 deductible, you would pay the first $500 of your claim, and your insurance provider would pay the rest, up to a predetermined maximum amount.
Your deductible amount impacts your insurance rate. When you commit to a higher deductible, your insurance provider doesn’t have to contribute as much money to your claims. As a result, your premium lowers.
Purchasing the right type of insurance coverage is always determined by your unique situation. Factors such as dependents, age, lifestyle, and employment benefits play a role when you’re building your insurance portfolio. Our insurance experts take the time to get to know you and your specific needs, and design an insurance portfolio that fits your budget.
A number of factors can affect your homeowners insurance premium. Such as the neighbourhood the home is located in, proximity to emergency services, and age of the home (roof, pipes, etc.). Our insurance experts can assess your unique situation and advise you on opportunities to save on your premiums.
The personal property of a dependant student temporarily living away from home is covered under a typical homeowners policy. The deductible and amount covered depends on the type of policy you purchase.
A business property insurance policy provides more comprehensive coverage for business equipment than a typical homeowners policy. Coverage can vary significantly depending on the insurer, which is why our insurance experts provide personalized insurance solutions that fit your business plan.
Our insurance experts will assess your needs and risk profile based on the details you provide. We’ll recommend a policy that fits your needs best and point out any gaps in coverage.
Your insurance premiums depend on a variety of factors such as the type of insurance, coverage amount and prior claims history. Talk to our insurance experts for guidance on how to lower your costs.
Removal of debris on or in the house may be covered by the policy, however flood insurance policies typically don’t cover general clean-up, or damage to landscaping.
Renters insurance covers certain losses by providing financial reimbursement. Typical policies cover lost or damaged possessions due to a fire, theft or vandalism. Some also include liability coverage if a visitor is injured on your premises.
The only way to get coverage on a car is through the car owner’s insurance policy. The insurance policy deductible applies. It is between the car owner and the at-fault driver to decide who will pay the deductible, but the car owner is ultimately on the hook for the full deductible amount.
No. You need a personal car insurance policy to cover your vehicle. An employer’s insurance policy will not cover your personal car, even if you are using it for work.
If you use your car for your job, make sure your insurance broker is aware of it so you know you have the right coverage in the event an accident, theft or damage occurs.
Umbrella insurance can cover professional liability and is fast becoming one of the most popular forms of insurance with professionals such as accountants, financial planners, and investors. Both professional liability and umbrella policies supplement existing business insurance policies.
Your premiums depend on a number of factors like the type and level of coverage. We tailor insurance coverage that is both flexible and fits your budget. Contact our team today to explore your options.
Most policies for renters insurance do not cover damage caused by floods. To be covered for damage from flooding, renters like landlords and homeowners, must purchase their flood insurance separately.
It depends on the value of your home’s physical structure and the value of all of your personal property (e.g. furnishings, clothing, appliances, entertainment systems, etc.). Take a thorough inventory of your possessions to ensure you have an accurate value. There are limits and exclusions that apply to your personal property. Our insurance experts can help you determine how much coverage is right for you.
A NFIP policy may provide financial reimbursement for home repairs needed due to flood damage. It may also cover replacement costs for your personal possessions inside your home, such as furniture, and electronics. Talk to our insurance experts for more information on what’s covered by flood insurance.
In a litigious society, most people would benefit from a personal umbrella policy. It used to be believed that only high net worth individuals needed enhanced coverage. However recent years have seen a multitude of cases where people of modest wealth have been at financial risk in lawsuits. Large losses in litigation can be crippling for anyone, and that’s when having coverage limits greater than what can be obtained from a typical homeowners’ or car insurance policy can be extremely advantageous. Reach out to our insurance experts today to assess your potential exposures and determine how an umbrella policy could safeguard your financial future.
With our growing reliance on technology, more and more businesses are dealing with hardware and software assets, collecting customer information and managing data. All such businesses face the potential risk of network outages, cyber attacks, and data breaches. The right insurance coverage can help mitigate that risk and enable businesses to recuperate losses and return to normal operations. Our insurance agents can help you evaluate the level of exposure and risk your business deals with, and develop a tailored coverage package that services your needs.
There are a number of cyber insurance coverage options that address almost every type of data, such as confidential information, personal information, personal health information, payment card information, and third-party data. Our insurance experts help you identify the type of data your business deals with, the potential exposures and the level of protection your business needs.
State laws don’t typically require businesses to carry general liability insurance. However given the risky nature of running a business, it’s a good idea to have this coverage. Without the right coverage, your business could suffer financial losses. It’s critical to identify risk exposures and state insurance requirements. Our dedicated commercial insurance experts help you find the right coverage to protect your business for long term stability and success.
The amount of general liability coverage your business needs depends on a number of factors, such as the type and size of your business, industry, number of employees, and the type of customers you typically work with.
Many small businesses opt for the standard $1 million or $2 million general liability policy. This means the policy will pay up to $1 million to cover any one claim, with a $2 million limit for the lifetime of the policy, which is typically one year.
Contact our insurance experts today to determine the right level of coverage for your business.
The IRS considers premiums as allowable business expenses, which makes commercial umbrella insurance tax deductible.
Umbrella insurance can cover professional liability and is becoming one of the most popular forms of insurance with professionals such as accountants, financial planners, and investors. Both professional liability and umbrella policies supplement existing business insurance policies. Our commercial insurance experts can walk you through the different coverage options and help you find the right product fit based on your business exposures and needs.
Small to medium-sized businesses with any commercial property should consider business property insurance, even those working from home! Covers your place of business and the equipment needed to run your business.
The type and level of coverage will depend on how the business uses vehicles, who is driving, and whether the business owns, rents or leases vehicles. Our insurance experts can guide you on the appropriate coverage based on how your business operates and your risk management needs.
If you operate a business that relies on several commercial vehicles, then you’ll need fleet insurance. Fleet insurance makes it easy to cover multiple vehicles under a single business policy. Many fleet insurance providers offer additional tools and data to help improve fleet efficiency. Even fleet maintenance becomes easier when all of your vehicles are insured under one umbrella. Our insurance experts take the time to understand your business operations first and tailor solutions that fit your current requirements and future growth goals.
There are many benefits to partnering with IMG for these critical services. Here are a few:
1. Frees your key personnel from complex and resource-intensive benefits administration tasks
2. Minimizes risk by ensuring your business is compliant with regulations
3. Keeps you informed on latest innovations in benefits and market trends
4. Gives you access to a suite of HR software, self-service applications and business tools
5. Allows you to manage benefits performance and results
6. Fosters a happy, healthy and engaged workforce
Schedule a consultation with our team for a full assessment of how we can help your business.
Yes. We are proud to offer customizable solutions that support your unique business, which means you only pay for the services you explicitly need. Contact us today to set up a complimentary benefits consultation.
Coverage typically commences on the first day of the following month, provided all enrollment forms have been approved and a cheque for the first month’s premium has been received.
The cost of medical insurance depends on several factors and can vary based on the plan type, and options covered. We help employees find affordable insurance solutions.
Most dental plans reimburse a specific percentage of the total cost of eligible dental treatment services. While your dentist can help you understand your plan coverage they are not experts on your plan. Contact your benefits administrator or plan provider for a list of services covered and eligibility requirements.
Dental plans are selected by the employer and offered as part of a group benefits plan. They are offered to provide partial reimbursement for some of the costs of common dental services, such as examination (diagnostic) checks and preventive services (scaling, polishing). These are common, applying across all patients and are known to aid in the prevention of dental disease.
If you don’t have any financial dependents and are under 50, you may not need life insurance yet. However if you’re planning on getting married in the future, having kids, or buying a home, you should start thinking about life insurance and the different plan options available. Getting life insurance coverage while you are young and healthy can result in lower premiums, as you pose a significantly lower risk. If you’re not sure whether you need life insurance, talk to one of our insurance experts today.
IMG is an UAII Member Agency
