If the policy is in your name only, your spouse’s (married or common-law, living with you for 3 years, or 1 year if you have a child together) property and civil liability are covered.

However, if the person living with you does not correspond to this definition, their property and civil liability are not covered. The only protection your policy offers is for property belonging to a third party located on the premises only. Civil liability is not covered.

If you move in with your partner or best friends, that’s why it’s essential that each person’s name be written on the lease and the home insurance policy. To be safe, each person should make a list of their property and the amount of coverage needed.

In home insurance, the replacement value rider allows you to replace damaged property with property that is identical in nature or quality, regardless of the actual cost to repurchase at the time of the claim. However, this rider does not apply to collectibles, historical artifacts, antiques, fine arts, paintings, sculptures, etc.

A rider is used to modify your insurance policy. For example, you buy an aboveground pool that you want to insure. You must notify your broker, who will ask your insurer to add a rider for an additional premium.

The deductible is the amount that the insured will have to pay in the event of a covered claim. For example, if you make a covered claim of $10,000 and your deductible is $1,000, the insurer will reimburse you $9,000 and you will have to pay the remaining $1,000 out of pocket.

You must contact your broker to let them know, and they will transfer your call to the claims department, where a claims expert will open a file and guide you through the process. Your damage insurance broker is always ready to help when needed.

Insurance premiums are based on micro-pricing and a customer’s credit rating. A good credit rating represents a lower risk for the insurer and will result in a better premium. We do not have access to our customers’ credit records, and the fact of giving your verbal consent in no way affects your credit rating.

• Identity theft can happen over the Internet, phone, fax or email. So, you need to be particularly wary of emails, calls or mail asking you to give out your personal or financial information.
• Remove any unnecessary ID cards from your wallet or purse and keep them in a safe place.
• Periodically check your credit reports, bank and credit card statements, and promptly report any irregularity to the relevant financial institution and the credit bureaus.
• When entering your personal identification number (PIN) at an ATM or on any keyboard, shield it with your hand.
• Memorize all PINs for your payment cards and calling cards. Never write them on the cards.
• Familiarize yourself with the billing cycles for your credit and debit cards.
• Trash bins are a goldmine for identity thieves. Make sure you shred your personal and financial documents before throwing them away.

When you change your address, make sure to notify the post office and all relevant financial institutions (bank and credit card companies).