The Importance of Tenant Insurance

tenant insuranceWhy is tenant insurance important when you’re renting in Alberta? It’s a common question and with growing home prices, and an increasing focus on the rental accommodation market, there’s an increased likelihood that Canadians will increasingly be renting rather than owning their home, condo, or apartment unit and if that’s you, you’ve worked hard for your stuff and both you and your stuff deserve protection.

According to a January 2017 Global News update, “Renter’s insurance, also known as tenants or contents insurance, will help replace possessions in your rental unit in the event of loss, theft, or damage. And while it’s relatively inexpensive, experts say many renters are still going without insurance.” Read more

Protect Your House with Fire Insurance

home insurance albertaFire in the insurance industry is known as a ‘risk’ or ‘peril’ meaning the cause of a loss or damage. The wildfires in Fort McMurray and the surrounding area in 2016 illustrated fire’s devastating effect – both on the community, province, and the insurance industry.

As a full-service, independently-operated insurance brokerage that provides insurance policies from maximum to minimum coverage to meet your individual or business needs, at Thomson Schindle Green Insurance Company we want you, our clients and potential clients, to have the best policy possible and the understandings that go with it. This is but a few of the reasons why understanding your insurance policy, and especially fire coverage, is critical for all Albertans.

If you have home insurance and your home is damaged, you’re covered. According to the Insurance Bureau of Canada (IBC), “virtually every home insurance policy covers damage caused by fire, even if the fire began on a neighboring property”. It’s important that this be said because there’s a lot of misinformation about natural disasters; some believe there is an “act of God” exclusion on their home insurance policy, but this isn’t the case. In fact, “there is no such thing as an “act of God” exclusion in any property insurance policy in Canada.” Read more

Home Insurance for Valuables and Jewelry

Many Albertans are collecting and creating wealth unknowingly through every day purchases like jewelry that over time can continue to increase in value as an individual piece or develop into an entire collection. Over time this innocent accumulation of value increases, often to levels not covered by a typical homeowner’s insurance policy.

At Thomson Schindle Green Insurance Company, we understand how valuable your personal belongings are to you, especially when it comes to such personal items as jewelry and the sentimentality that is often associated with that ‘special’ piece. It’s important to know that just because you have homeowners insurance, your jewelry is not automatically covered, and the best guarantee is to discuss the items and whether you should schedule them with your broker.

In the strictest of terms, a Policy Schedule is an outline of the coverage provided under the policy, it will show details of the policyholder, what the policyholder does, and the coverage given and the relevant limits, sums insured, and excess. Scheduled personal property protects valuable items that are out of the ordinary and need to carry separate coverage to ensure that their full value is covered in the event of a claim. Read more

Christmas and Alberta Insurance

insurance coverage in albertaChristmas is a season of celebration, giving to your community, and of course, gifts. It can also be a season filled with family perils, and perils for your family. Because of these perils, and to minimize your risk of falling victim to any number of them there’s Thomson Schindle Green (TSG) Insurance Company.

TSG Insurance is a full-service, independently-operated insurance brokerage company that provides insurance policies from maximum to minimum coverage to meet your individual or business needs.

Statistics from The Royal Society for the Prevention of Accidents (RoSPA) prove Christmas is one of the most dangerous times of the year, emphasized by 1,000 people each year suffering Christmas tree related injuries and 350 being injured by twinkling lights.

Other risks include fire from those lights and festive decorations, candles including menorahs, and chimney fires so have your chimney inspected by a professional and cleaned if necessary – and be careful. Ice and snow can weaken trees and damage roofs, so be aware and take steps to mitigate the risk. Read more

Condo Insurance in Medicine Hat, Edmonton, Calgary, Brooks & Bassano

condo insuranceToday the idea of home ownership changing with condominiums becoming common options in Canada’s larger urban centres and increasingly, in smaller communities throughout Alberta as well. According to Service Alberta, a “condominium is a form of real property ownership that has two distinct parts: you own your condominium unit to which you get a title, and you also jointly own common property with the other unit owners in your complex.”

It also means understanding the different levels of insurance required for each of the two distinct parts of ownership. Insurance on the entire structure of the condominium complex is the responsibility of the condominium corporation. This insurance must cover replacement cost value insurance on the property for all perils covered by standard insurance policies, and insurance for any liability incurred by the board or corporation when carrying out their duties and responsibilities.

In Alberta, a condo corporation is required to maintain insurance to protect common property from destruction or damage caused by: fire and/or leakage from fire protective equipment; lightning; smoke; windstorm; hail; explosion of natural, coal, or manufactured gas; water damage caused by flood; water damage caused by sewer back-up or the sudden and accidental escape of water or steam from within a plumbing, heating, sprinkler or air conditioning system or a domestic appliance that is located within an insured building; impact by aircraft, spacecraft, watercraft, and land vehicles; riot, vandalism or malicious acts; and any other causes as required by the condominium by-laws. Read more