Lareau Blog - Page 6 of 7 - Insurance brokers

Airbnb does not mix well with insurance, unless…

Charles-Antoine Carra Auteur Lareau - Charles-Antoine Carra

You probably already know how this works, but if not, let me summarize it for you: At the moment, apps and Web sites that enable you to generate income with your vacant residence are trendy. Airbnb, the best-known company and possibly the most effective in the field, might help you discover new places around the world as part of your next vacation. Meanwhile, you could pay for part of your trip by renting your house in say, Laval, to another user who wants to visit family. This service is generally easy to use, affordable, and technologically advanced, hence its success. The good thing about this method is that, if you report your income, it’s perfectly legal. Depending on the province, you may need to contact the ministry of tourism to find out if you need a permit to rent your Lire la suite…

My condo, my own insurance or the syndicate’s?

Gabrielle Côté Auteur Lareau - Gabrielle Côté

  An increasing number of condominiums are being built both in major urban centres and small municipalities. Cities and towns see this as a way to increase population density, and buyers see it as a way of becoming a property owner while investing in real estate. At the same time, buying a condominium may lead to confusion when it comes to responsibilities and loss settlements resulting from damage to the building and your unit. Common and private portions First of all, it is important to distinguish common portions from private portions. In short, private portions are the areas of the building and land owned and used exclusively by the co-owner. For example: your unit, bedroom, bathroom, etc. The Insurance Bureau of Canada (IBC) has created a very practical lexicon to help you demystify condominiums and relevant terms. Who pays what? Lire la suite…

Replacement value, the dealer’s offer or an equivalent offer from my broker?

Charles-Antoine Carra Auteur Lareau - Charles-Antoine Carra

Allow me to set the scene. You walk into your dealership and you make a fabulous purchase. When it comes time to leave the dealership, you enter the Financial Services Manager’s office to deal with some paperwork before you go. That’s when you find out that your expenses are far from over. According to them, you need an extended warranty, a tire warranty, rustproofing, stain protection, an anti-theft device, and a QPF5: replacement insurance commonly known as the dealer’s replacement value. It’s a good product, of course. For a few dozen dollars a month, it guarantees you a new vehicle in the event of total loss of your vehicle. It’s almost silly not to take it. If you say no, it sometimes gives you the impression that you’re upsetting the director of financial services. I’m exaggerating? Not really, as directors Lire la suite…

The flood goes on

Charles-Antoine Carra Auteur Lareau - Charles-Antoine Carra

Homes close to Lake Champlain and the Richelieu River have been affected by the spring flooding with hundreds of disaster victims being ordered to evacuate the area. To date, 2,000 homes have been affected and 500 families evacuated. This number would have been even higher if it were not for certain people insisting on staying in their homes so that their property was not left to the flooding, which has been plaguing the area for nearly two weeks now. A total of 58 municipalities were hit hard by the floods. It has also hurt agriculture. Around the Richelieu River, almost 40% of farmland has been flooded to an extent not seen in the past 100 years. Damage for farmers will be substantial since the sowing season has to be put off (April and May is the sowing season for most Lire la suite…

Defamation!

Charles-Antoine Carra Auteur Lareau - Charles-Antoine Carra

So you have 300 Facebook friends, a Twitter account, use GPS mobile phone applications, give your opinion on specialized sites and criticize blog entries. Others react to your strong opinions, or to your biting sarcasm. You are hot-blooded, easily angered, and impulsive in sharing your good and bad experiences. Are you immune to legal proceedings? The definition of defamation differs depending on whom you ask, but most say it affects the reputation of someone or something. Granted, people have personal views on what constitutes ruining a reputation. As proof, the saying “There is no bad publicity… what counts is that they are talking about you,” which almost dismisses the idea of defamation. However, to most, reputation is sacred. Social networking promotes the expression of anger, points of view, and various opinions. Twitter is a sort of unformatted, unchecked and super-fast Lire la suite…

Hey Students, Are You Insured?

Charles-Antoine Carra Auteur Lareau - Charles-Antoine Carra

Granted, we know that students have other concerns than to worry about insurance. After high school, students often leave the family nest to study in the “big city”. They think about their TV, their roommates, their studies, their weekend parties… basically everything, but insurance. And what about their parents? They have better things to think about too: costs, fears, weekend parties, sometimes said with a faint smile on their lips… So, who has thought about insurance? The answer may surprise you: the insurance company. Students are found in the definition of an insured in a home insurance contract, and are covered free of charge through their parents’ insurance. But wait… there are three conditions for eligibility. The precise definition is: “Any student dependent on the designated insured or his or her spouse, even if the student is living temporarily outside Lire la suite…

Stop… Thief!

Charles-Antoine Carra Auteur Lareau - Charles-Antoine Carra

You are shopping at a mall, and make your way back to the parking lot… but your car is no longer there. Your car is very plain with no fancy gadgets, so you would never have thought it would be stolen. Unfortunately, regardless of year or model, any vehicle can be stolen. Motor vehicle theft is a major problem in Quebec. According to the Insurance Bureau of Canada, in 2009 no less than 27,517 vehicles were stolen in that province… that’s one vehicle every 19 minutes! Vehicle theft is also a big problem in Ontario, where 27,175 vehicles were stolen during the same year. However, regarding the recovery rate of stolen vehicles, the difference is staggering: 67% for Metropolitan Toronto versus 31% for the Greater Montreal Area. Some people would actually be happy to see their vehicle gone, such as Lire la suite…

Leaving Your Old Car Behind…

Charles-Antoine Carra Auteur Lareau - Charles-Antoine Carra

Your car just gave out on you at the worst possible time? What am I saying… There is never a good time. So you immediately decide to get a new car, drop into the first dealership you come across—just to look around—and come out with a new car. Buying a new vehicle is generally a pleasant experience: that new-car smell, which is sometimes an actual perfume (in the Rolls Royce, for example, a wood and leather scent is sprayed), cleanliness, reliability and, usually, a strong sense of pride. But buying a new vehicle also contributes to other things. It’s no secret… the American economy is collapsing and one of the boldest plans from the leaders of Uncle Sam’s country was to save the national automobile industry by literally acquiring Chrysler and GM. Moreover, this week, GM just went back onto Lire la suite…

My good old oil tank

Charles-Antoine Carra Auteur Lareau - Charles-Antoine Carra

Do you remember the old Petro-Canada publicity campaign in the late eighties? A woman asks a gas-station attendant why his gas station is renovating, and why are they changing the tanks when they are “still good”… The attendant replies sensibly, in a comforting tone, “Because, Madam, it’ll be too late when they start leaking”. The woman instantly understands what’s at stake, and turns back to her daughter, looking tenderly at her and with a sudden confidence in the future. Now, the eighties being what they were, they were a bit short on subtlety, but the message was clear: “We cannot accept an oil company contaminating the ground.” This summer was a particularly bad one when it came to soil contamination by oil. First, the BP disaster in the Gulf of Mexico… then, closer to home, Canada Steamship Lines in Ste-Catherine, Lire la suite…

Aunt Bea’s Change Jar

Charles-Antoine Carra Auteur Lareau - Charles-Antoine Carra

Aunt Bea has always had the odd habit of collecting money and putting it in an antique milk jug. And she’s not the only one. Many people have a change jar somewhere in their home that they use to dump all their spare change. Whether it is their only form of savings or just a habit, they believe their money is safe if they put it in a home safe, or maybe even under an old mattress. Am I exaggerating? Not really… but, in any case, these people are responsible and are insured, so they can sleep safe and sound… or can they? Well, not really. Insurance contracts have what are called “limitations in coverage”. These limitations “limit” the amount the insurance company has to pay for a specific set of goods based on the type of claim. Let’s do Lire la suite…

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