Archive for Car Insurance

Young Drivers: Emoji Road Signs

Young Drivers: Emoji Road Signs

It’s a sign of the times: younger drivers better understand road signs in emoji form over the traditional ones. This was revealed in a survey of 1,000 young drivers by insurer more than a subsidiary of RSA.

More than six in ten (61%) of drivers aged 17-25 understood emoji road signs better, showing how embedded emojis are in the current lexicon of millennials.

The surveyed drivers had difficulty correctly identifying the standard road signs for zebra crossings, ring roads, no bicycles and steep hills—but had no problems understanding road signs that indicated emojis. In fact, 37% of young drivers would be open to having emoji signs on the UK’s roads and highways.

Young drivers’ misinterpretation of real-life road signs is a cause of concern. The sign for a ring road was mistaken by 27% of those surveyed as a sign for a ‘carbon neutral road’. Meanwhile, 25% thought that the sign for ‘no vehicles carrying explosives’ was a warning of spontaneously combusting traffic.

According to Kenny Leitch, director of telematics for more than: “Emojis have changed the way the younger generation converses, so it’s understandable they can comprehend these symbols with ease. However, emojis have no place on our roads. Thankfully, there is little prospect of official road signs ever becoming like emojis, but we still find ourselves in a situation where a significant number of young drivers do not understand the meaning of authentic road signs.”

The 63% of those who disagreed with using emoji road signs cited that they were too frivolous, confusing for older drivers, or would encourage use of mobile phones while driving.

The last reason is particularly problematic, as 32% of those surveyed admitted to using their phone behind the wheel, and one in 20 (5%) had an accident or nearly missed one due to being distracted by their gadget.

 

Source:

Olano, G. (2016, May 20). Young Drivers “Understand Emoji Road Signs Better Than Real Ones” Retrieved September 22, 2016, from http://www.insurancebusiness.ca/news/auto/young-drivers-understand-emoji-road-signs-better-than-real-ones-207660.aspx?keyword=telematics

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Uber Gets The Green Light

Uber Gets The Green Light

Intact’s Commercial Ridesharing Insurance Policy Gets Approved in Ontario

The Financial Services Commission of Ontario has approved a commercial ridesharing insurance policy offered by Intact Financial Corporation (IFC) in partnership with Uber Canada.

Effective July 7, 2016, IFC reports in a statement that the product will provide protection to all drivers and passengers who participate in ridesharing with Uber in the province. “Every ridesharing driver operating on the Uber platform in Ontario will automatically be covered under the commercial policy provided by Intact Insurance Company, a subsidiary of IFC, and purchased by Uber.”

The coverage will “apply from the moment drivers make themselves available to accept a ride request until passengers have exited the vehicle,” the statement notes. IFC’s Intact Insurance and belairdirect “have modified their underwriting guidelines to allow customers to participate in ridesharing at no additional cost for drivers. Customers simply have to call their broker or agent before participating.”

This is the same approach currently being used by IFC in Alberta.

That province became the first in the country, as of July 1, to offer a new insurance policy for transportation network companies (TNCs) to insurance companies licensed in Alberta. Alberta’s Superintendent of Insurance has approved the policy for TNCs and their drivers.

Of Intact’s latest offering in Ontario, “this unique product will benefit both drivers and passengers, and speaks to how insurance is evolving to meet the needs of consumers,” says Karim Hirji, IFC’s senior vice president, International & Ventures.

“It will also now be easier for other personal lines insurers to permit drivers to participate in ridesharing using their personal automobile given that the commercial portion of rides are covered by Intact,” Hirji continues.

Aon Risk Solutions explains that as Uber’s insurance broker, it has “developed a comprehensive understanding of the business, driver tendencies and coverage requirements, resulting in a personal insurance product unlike others available in the marketplace.”

Developed in partnership with Intact, the solution is not restricted by driver age, years licensed or number of weekly ridesharing hours, Aon Risk Solutions, the global risk management business of Aon plc, notes in a statement.

It points out that the company created an online quoting tool for Uber drivers, which allows drivers of the ridesharing company to receive a quote in seconds by taking a photo of their licence or entering their driver’s licence number.

“Ridesharing continues to grow at a rapid pace and is changing how we travel,” Caroline Mills-White, senior vice president of personal lines for Aon Risk Solutions in Canada, says in the statement. “As a result, insurance must evolve to meet the changing needs of drivers and passengers alike in Ontario.”

Both IFC and Uber “remain engaged with regulators across Canada to bring new ridesharing insurance policies that offer a smart, seamless and simple solution for driver-partners,” notes Uber Canada general manager Ian Black.

“As the Ontario government introduces legislation related to the sharing economy in the coming months, this product will continue to evolve,” the statement adds.

Effective Thursday, the Ontario government approved a regulatory change allowing “commercial fleet insurance to be offered for vehicles that can be hired through an online application.”

Ontario auto insurers “can now develop insurance policies for purchase by ride-share companies,” notes a statement from the provincial government. “This closes the gap in auto insurance coverage for those drivers carrying paying passengers through ridesharing services.”

Among other things, the definition of “fleet” has been changed to a “group of not fewer than five automobiles” that meets the several requirements.

 

Please contact one of the brokers at Moller Insurance Ltd. for more details on what your policy covers and the limitations of Intact’s new commercial policy.

“Intact’s Commercial Ridesharing Insurance Policy Gets Green Light in Ontario.” Canadian Underwriter. Canadian Underwriter, 08 July 2016. Web. 13 July 2016

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Thinking About Getting A New Car?

Thinking About Getting A New Car?

If you’re like most people shopping for a new vehicle, safety ranks high among things you’re looking for. Every new car must meet certain federal safety standards, but that doesn’t mean that all cars are equally safe. Many automakers offer safety features beyond the required federal minimums. Find out more about what safety features should be considered when purchasing a car.

Shopping for a Safe Vehicle

Seat BeltSafety Features

When you think about buying a new vehicle, chances are you spend a good deal of time thinking about what kind of vehicle you’d like to buy, what colour you’d like, and the “must-have” features. But don’t forget to consider a vehicle’s safety features, too

 

  1. Crashworthiness: These features reduce the risk of death or serious injury when a crash occurs. You can get a rating of     crashworthiness for just about any car from the Insurance Institute for Highway Safety’s Web site at www.highwaysafety.org.
  2. Vehicle structural design: A good structural design has a strong occupant compartment, known as the safety cage, as well as front and rear ends designed to buckle and bend in a crash to absorb the force of the crash.
  3.  Vehicle size and weight: The laws of physics dictate that larger and heavier cars are safer than lighter and smaller ones. Small cars have twice as many occupant deaths each year as large cars
  4. Anti-lock brakes: When you brake hard with conventional brakes, the wheels may lock and cause skidding and a lack of control. Anti-lock brakes pump brakes automatically many times a second to prevent lockup and allow you to keep control of the car. Anti-lock brakes may help you keep steering control, but they won’t necessarily help you stop more quickly.
  5. Daytime running lights: Daytime running lights are activated by the ignition switch. They are typically high-beam headlights at reduced intensity or low-beam lights at full or reduced power. By increasing the contrast between a vehicle and its backgrounds and making the vehicles more visible to oncoming drivers, these lights can prevent daytime accidents.
  6. On-the-road experience: Other design characteristics can influence injury risk on the road. Some small utility vehicles and pickups are prone to rolling over. “High performance” cars typically have higher-than-average death rates because drivers are tempted to use excessive speed. Combining a young driver and a high-performance car can be particularly dangerous.

Whether new or used, buying a car is an investment. Make sure your vehicle is properly protected by calling our office today to learn more about all of our insurance solutions for your auto, home and life.

 

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Try Our Brand New Quoting Tool TODAY!

Try Our Brand New Quoting Tool TODAY!


You could be 5 minutes away from saving on your insurance!

Getting a single quote for your home or car might seem like a time consuming task. A lot of factors can impact the amount of time it takes to get an insurance quote;for example, how many drivers and vehicles you have of details about the construction of your home. However, www.mollerinsurance.com has now made it easy to get an insurance proposal in 5 minutes or less.

You now have a choice to complete a general 10-second quote or a more detailed 5 minute quote to see where you can start saving. The detailed quote will give you a more accurate estimate though answering a few simple questions. Your answers will then be run through our 18 contracted insurance companies to determine the company with the best coverage to fit your specific needs.

Moller Quote Tool

Once you’ve completed the session, you are given the option to try an additional quote or send the data you have submitted to our insurance specialists to further assist you with any questions.

When you call, we can also inform you of potential discounts and further saving you may qualify to receive.

Try out our new Quoting Tool today and give us a call! (905) 642-2745

 

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Need To Know! NEW Auto Insurance Changes

Need To Know! NEW Auto Insurance Changes

Ontario’s NEW Auto Insurance Reform

Auto reform changes come into effect this year: the winter tire discount was effective as of January 1st  but most changes come into effect June 1st.

In a nutshell, new regulations include lower accident benefit limits in standard insurance policies, new options to increase coverage, new procedures for payment and a mandatory Winter Tire discount offered by insurance companies across Ontario.

Why does any of this matter?

Car insurance can sometimes come with negative connotation – monthly expenses could be used elsewhere (for that vacation you need, for example). It’s perhaps only at renewal when you might think about the greater issues at play: insurance as a safety net, protecting against risk; insurance as a critical factor in individual and collective welfare. If you, a friend or loved one is involved in an accident, it’s at that point your outlook changes to one of appreciation. What would have happened if a policy hadn’t been in place?

The opportunity with this new set of measures is to step back and reflect on what you really need. Does your employer provide a Group Insurance Plan? Look into what your policy covers… most benefit packages are limited to $500/year per practitioner, which can be exhausted quickly even in cases of minor accidents. If you have children or elderly parents that depend on you, who would care for them if you were injured? If you had to hire someone to carry out household responsibilities, how would you subsidize the expense?

Standard policies are just that – standard. They don’t include benefits like dependent care, which reimburses additional expenses to care for your dependents. While auto insurance products are becoming more affordable for consumers, gaps might exist depending on your lifestyle. The good news is there’s opportunity to fill those gaps by increasing coverage or adding options to cover specific areas of your life. Purchasing appropriate coverage is an investment in your family, your children, your parents… ultimately it’s an investment in your lifestyle. What could be more important?

Watch for awareness mailers from your insurance company, and make sure to talk to your broker at Moller Insurance Ltd. to ensure you have the best possible coverage based on your lifestyle.

The following link contains an introduction video to the changes taking place June 1, 2016.

https://www.youtube.com/watch?v=IhpS7dzJsBM

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How to React After an Accident

How to React After an Accident

You just got into a fender bender on your way to run a quick errand. What should you do now?

Stay calm and read on – to learn how to react to make sure that the process goes as smooth as possible.

Get The Facts

Sounds easy, but many people forget to do this after an accident for one reason or another. It is important to get the names, address, and phone numbers of everyone involved. Also gather a description of the car(s) and licence plate number(s), and make sure to get the insurance company and the vehicle identification number of everyone involved when you’re at the scene of the accident.

Auto Accident Reaction Tips

  • Get out of your vehicle and provide assistance to anyone who is injured.
  • Call the police or highway patrol immediately. They can then contact emergency personnel for you, if needed.
  • Take photographs of your damaged vehicle and the scene. Note the date and time that the images were taken.
  • Protect the accident scene by setting up flares, putting up cones or moving your vehicle off the road. Keep these items in your trunk at all times in the event of an accident.
  • Once the police arrive, give them as much information as you can about what occurred. Do not admit fault; simply give the facts.
  • Ask the investigating officer for a copy of the police report, as you may have to submit it with your insurance claim.
  • Note the licence plate number, make, model and year of each car involved. You should also note the name of the other driver’s insurance company and driver’s licence numbers.
  • Write down the name and contact information for all witnesses to the accident.
  • Note the name and badge numbers of the police and emergency personnel who assisted with your accident.
  • Write down as many details as you can remember about the accident, and then call Moller Insurance to report your claim.
  • Keep all records of correspondence that you have regarding your claim, including the date, name and title of the person that you talked to about the accident.
  • Keep a record of any expenses that you incurred as a result of the accident. Depending on your policy, you may be entitled to reimbursement for those expenses.

We do more than just help you to avoid claims and arrive at your destination safely. Contact us today to learn more about all of our insurance solutions for your auto, home and life!

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Car Rental: Decide Before You Drive

 The best time to make the decision about whether you will need extra rental car insurance is before you’re standing at the car rental counter. Read on to learn about car rental insurance considerations and what you need to know to make sure that you’re covered.
What the Rental Car Company Offers

Rental

It’s not uncommon for rental car brokerages to offer you the opportunity to purchase additional auto coverages, but do you need them?

  • Collision damage waiver (CDW), or loss damage waiver (LDW), relieves you of financial responsibility if your rental car is damaged or stolen. If you have comprehensive and collision on your own car, you most likely do not need to purchase CDW from the rental car brokerage.
  • Additionally, your credit card company may include some collision and theft protection if the rental car is paid for with your card. This includes coverage for “loss of use,” which refers to the amount of money a rental car company can stand to lose while a car is being repaired. If your credit card doesn’t offer coverage for loss of use, you may want to consider purchasing CDW from the rental brokerage.
  • Liability insurance provides excess liability coverage of up to $1 million for the time you rent a car. If you have adequate liability coverage on your car or an umbrella policy on your home/auto, you may consider forgoing this additional insurance. It is advised that consumers contact their credit card company and car insurance company prior to renting a car. If you are a frequent renter, consider having renters insurance added to your policy.
Auto policy options

 If you don’t have comprehensive and collision coverage on your own car, you will not be covered if your rental car is stolen or if it is damaged in an accident. If you plan to rent a vehicle frequently, your best bargain is to purchase a non-owner auto liability insurance policy from us.

A non-owned auto liability insurance policy covers you for damage that you may cause to someone else’s car and liability for injuries to its occupants, or to pedestrian, in the event of an accident. The policy will also provide medical payments coverage for you and your passengers, and under-insured and uninsured coverage. This pays for the cost of an accident involving a hit-and-run driver or a driver who has little or no insurance.

However, non-owned auto liability insurance does not provide collision coverage. Collision coverage pays for damage to the car you’re driving if you crash into another car or object, or the car rolls over.

If you drive an older vehicle, but plan to rent a luxury vehicle, it’s important to make sure that your policy will cover the complete cost of the replacement value of the vehicle you are renting.

In addition to a non-owned auto insurance policy, an umbrella liability policy is also an option to meet the underlying auto insurance policy requirements when renting a vehicle.

One more thing to note…if you are renting a vehicle that is not classified as passenger car (such as a moving truck, 15-passenger van, etc.), you must purchase a separate policy from the rental company to be covered in that vehicle.Abroad

Renting an auto outside Canada?  

In general, your Canadian auto insurance does not cover you abroad. However, your policy may apply when you drive to countries neighbouring Canada. Check with our brokerage to see if your policy covers you in the United States.

Car rental brokerages overseas usually provide auto insurance, but in some countries, the required coverage is minimal. When renting a car overseas, consider purchasing insurance coverage that is at least equivalent to that which you carry at home.

Also, if you are renting a car abroad, you may need an international driver’s licence.

Need advice on what to do or what your policy covers? Call Moller Insurance today at (905) 642-2745 and we will be happy to assist you!

 

Moller Insurance Ltd.logo

1-64 Sandiford Drive

Stouffville, ON L4A 7X5

Tel: (905) 642-2745

www.mollerinsurance.com

 

 

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Keeping Your Holidays Safe

Preventing Home Break-ins holidayhome

Home break-ins can be both traumatic and expensive. In addition to replacing stolen or damaged property, break-ins cost insurance companies millions of dollars in claims each year, which, in turn, increases your premiums.

By following these three simple tips, you can potentially avoid a stressful and costly burglary:

  1. Secure the Premises: Locking doors and windows at night before you leave your home is the first line of defence against a break-in. Experts recommend using deadbolt locks for added security.
  2. Use Alarm Systems: Using a 24-hour monitored system is statistically proven to lower your chance of a home break-in. As an added benefit, some systems also detect fire or carbon monoxide.
  3. Protect Your Valuables: Create an inventory of all of your valuables and keep them in a safety deposit box or other secure area.

Most burglaries occur during the day, so it’s important to make your home appear occupied at all times. Ask trusted neighbours, family and friends to keep an eye on your house while you are away.

How to Safely Host a Holiday Party

For many Canadians, the holidays are a time to celebrate. However, those throwing a party this season could be unknowingly exposing themselves to a number of risks—risks they may not have even considered.

ChristmasFood

  • Food Allergies: Shellfish, nuts and dairy are some of the most common food allergies, and these items are often found in popular holiday dishes. To ensure the safety of your guests, ask them to inform you of any allergies, and consider using labels to list ingredients.
  • Over-serving: Alcohol is a staple at most holiday parties. But, when a guest becomes inebriated and drives home, they could cause damage to property or injury to themselves and others. Be mindful of how much your guests are drinking and never let someone drive home if he or she has been over-served.
  • Decorations: Festive decorations like string lights and candles can create great ambiance for any holiday party, but they can also be dangerous. Never leave lights on or candles burning overnight, as this can cause fires. Ensure lights are in working order and that you aren’t overloading outlets.
  • Theft: You may not always know everyone at your party, so it’s important to take precautions when it comes to your valuables. Keep expensive items locked away and out of sight. Ask your insurer about coverage options for your valuables.

By keeping in mind the above tips, you’ll protect you and your guests from harm and ensure that your next holiday celebration is a success.

 

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Are You A Good Driver? Intact’s my Driving Program can Save You Up to 25%

IntactDiscountIntact Insurance launched a new UBI (Usage Based Insurance) program, my Driving Discount, in April. You may have heard about the program or have attended a training session in recent weeks. To help familiarize you with our new offering, this article gives you an overview of all things my Driving Discount.

In A Nutshell

The my Driving Discount is a program which offers customers the chance to save up to 25% off their car insurance premium based on their driving behaviour. This includes a 5% enrollment discount which they receive just for signing up.

HOW DOES IT WORK?

The program is only available to customers through a broker and can be included on quotes through your vendor quoting system and through Savers Plus.
Once enrolled for the program, your customer will receive a small device in the mail. They simply plug this into their car and the device records their driving behaviour including braking, acceleration and time of day they drive.
The reported data is used to calculate a personalized discount of up to 25% off their car insurance premium. Upon completion of the initial assessment period (minimum of 180 days), the earned discount will be applied to their policy at their next renewal.
Customers can view their driving data and monitor their potential discount on a personalized website. Brokers also have access to view their customer’s data to help respond to questions or concerns.

WHAT ARE THE KEY BENEFITS?

Immediate savings: customers automatically receive a 5% enrolment discount!
Added control: customers are rewarded savings based on customer’s good driving habits.
Risk free: customers premium will not increase based on the data collected.
Access to information: a personalized website showing driving behaviour and discounts.
Simple: small, easy-to-install device.
For more information in the My Driving program, contact Moller Insurance and speak to a broker today. (905) 642-2745 or 1-800-603-4279

FAQ’s

  1. Can my customer lose out by participating? No, the program is completely risk free and can only benefit the customer. Their premium will not increase based on the data collected and it will not be used to process or deny claims.
  2. How is the customer’s privacy protected? We are committed to protecting customer privacy, and have placed stringent protocols to ensure personal customer information is safeguarded properly. We will only use and disclose personal information in accordance with the program, unless otherwise required by law.
  3. Can customers really earn a discount of up to 25%? Yes. Customers can earn a discount of up to 25% off their premium at their next renewal. This discount has been filed with and approved by the Financial Services Commission of Ontario.

 

Reference: infoQUEST. 01 April 2015. Accessed 06 November 2015.

<http://infoquest.mundygroup.com/my-driving-discount/>

 

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Is Using Uber Worth the Risk?

uberRisk Insights: Rideshare Industry

Over the past few years, Uber, a popular ridesharing company, has expanded its operations into a handful of Canadian cities. While drivers and passengers cite ridesharing as a cheaper and more convenient alternative to traditional taxi services, the industry is not without risks.
Before signing up to become a rideshare driver or using the service as a passenger, it is important to understand how ridesharing works and the risks associated with the industry.
How Does Ridesharing Work?
Uber and other rideshare companies connect ride-seekers to drivers through a mobile app. After a match has been made, drivers pick up their passengers and transport them to their desired destinations. Fares vary by city, but typically consist of a base fare and fees per kilometres and minutes driven. Passengers have to enter credit card information into the app before rides can be requested. Their credit cards are then charged for the rides once they reach their destinations, and the rideshare company compensates the drivers. No cash is ever exchanged.
“According to experts, the majority of UberX drivers rely solely on their
personal auto coverage, which, in most cases, won’t protect them from
financial loss in the event of an accident.”
What Happens in the Event of an Accident?
In early 2015, a Toronto UberX driver got into an accident that totalled his vehicle and sent him and his passenger to the hospital. When the driver tried to file a claim, he was told that his insurance had been voided because he was transporting passengers for pay. Meanwhile, Uber’s contingent insurance policy did not apply—forcing him to absorb the cost of his injuries and the cost of damages to his vehicle.
This is just one example of what can happen if you get into an accident as a driver for Uber. Neither Uber’s policy nor your own personal policy can offer sufficient coverage, leaving you without access to accident benefits, collision coverage or third-party liability coverage. These risks are not only a concern for drivers, but for passengers as well.
How to Reduce Your Risk
For passengers, mitigating the risks associated with ridesharing is simple. Before a ride, passengers should ask the rideshare driver to provide proof of commercial insurance, as this is the only type of insurance in Canada that can sufficiently protect you in the event of an accident.
For those considering becoming an UberX driver—or a driver for any other rideshare company—there are a number of precautions you can take to limit your risk, including the following:
  • Obtain commercial coverage.     While this type of insurance is typically more expensive (with an estimated minimum annual premium of $5,000), it’s the only way to guarantee coverage in the event of an accident.
  • Disclose any pertinent information to your insurer.     By letting your insurer know of any changes in how you use your personal vehicle, you will avoid potential fines and gaps in coverage.
  • Wait to become an UberX driver.   Currently, there are limited coverage options for drivers. Until provinces have worked through how to regulate the service from an insurance standpoint, holding off on becoming a driver is the only way to completely mitigate the above risks.
For any questions or more information feel free to contact Moller Insurance at (905) 642-2745 and speak to one of our brokers.

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