Planning on lots of driving this summer?
Heading up to the cottage this summer? Planning on a “see Canada” road trip vacation? A tune-up for your car before any big driving vacation is always a good idea but what about a “tune-up” for your insurance?
Before you pack, it’s always a good idea to check your insurance policies. The driving risks for cottager commuters, who spend many hours behind the wheel, increase during the summer months.
Unfortunately, the fun and relaxation for cottagers is sometimes overshadowed by the additional risks. Not only are there the driving risks on the road, but there is always the possibility of mishaps which can easily occur on the water or with a fire pit that accidently gets out of control. Many people are dismissive about mishaps, thinking that they always happen to other people.
And folks who will be staying at home rather than having a get-away vacation due to a tight budget, or still looking for work following the thousands of recession layoffs—should also review their insurance policies. People who are on the road a lot and looking for work, frequently for months without success, are under a great deal of stress which can affect their concentration while driving.
When it comes to your automobile and home insurance policies, one should here are two practical things to check into:
1. Check into an ‘umbrella policy.’ The purpose of an ‘umbrella policy’ is to cover you if the other person’s insurance is insufficient to cover all of your damages. Umbrella liability insurance gets its name because it acts like an umbrella, sitting on top of your auto and homeowners policies, and provides you with extra protection.
Have you considered the medical and rehabilitation costs if you were ever the victim of a catastrophic accident? They are likely to be more than $2 million over a person’s lifetime, depending on the age of the person.
In the past, the perception of ‘umbrella policies’ was that they were just for the rich because the premiums were too expensive and they were too complicated to coordinate with your existing insurance. This is no longer true according to David Walsh of Allstate Insurance, who sells umbrella policies to his clients in the Peel Region and can be reached at 905-796-6677 ext. 5001.
2. Make sure that you are not a higher risk than your policy covers. This means making sure that all details—the age of the people who drive your car, the quality and upkeep of your property, and so on—are accurate and honest. Misrepresenting yourself to insurance companies means that a claim will likely be challenged by the insurance provider.