In the last few years, residents of Alberta have seen a fair share of natural disasters, including, wildfires, storms and floods that have wreaked havoc in the lives of the affected communities. In fact, a study conducted by KPMG on behalf of the Canadian Institute of Actuaries suggests that water damage accounts for almost 48% of the overall Canadian home insurance claims. Theft and fire contributed 18% and 4% of the claims respectively, while the remaining 30% comprised of other losses.
It’s the peak of summer and your weekends are packed with a host of backyard barbecue parties. At your last weekend’s party, one of the guests ventured into your garage and ended up injuring his leg after tripping over a loosely stored ladder. A few days later, you are greeted with an unpleasant surprise in the form of a notice informing you that your guest fractured his leg and is suing you for thousands of dollars in damages. It looked like a minor accident, and he wandered around your property by himself, unescorted. Then why are you being held accountable? While it may not seem fair and you may think you are not at fault, you still need to be prepared for such situations. This is where personal liability insurance comes in.