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COVID-19 and your Auto Commute

Many insurance companies are pivoting and offering solutions for COVID-19 and your auto commute. We continue to compile resources from every company that we represent to ensure we are keeping you up to date on how to best manage your insurance policies during the COVID-19 social distancing and isolation.

You are no longer commuting to work

If you still require use of your vehicle, but you are no longer using it to commute to work/school during the pandemic, or if your vehicle is driving significantly fewer kilometers over this period, we can adjust the applicable policy information. For example, if your vehicle was used for business purposes or driving to and from work or school, we can determine if you now qualify to modify your policy to pleasure use.

As a quick disclaimer, it is important to note that, in order to avoid potential risk of being under-insured, you are responsible for calling us to have the use and/or mileage adjusted once your situation changes. 

You are no longer driving your vehicle at all during the COVID-19 pandemic

It’s important that you understand the options available. If you are not using your vehicle at all during the pandemic, there are two options:

1. You can chat with us about reducing liability coverage as well as your comprehensive and collision deductibles.

2. You can choose to park the vehicle and completely remove road coverage. This is something we will chat with you about on a case-to-case basis and help you determine your risk vs. reward for amending coverage in this way.

Please note – if the vehicle is leased or has a lien holder, we can’t reduce to Comprehensive only without written confirmation from the lessor or lien holder.

 

Paying your Premiums

We are proud of the insurance companies we represent as many of them are offering flexible payment options or even payment deferral options. If you feel you can not pay your insurance premium, please contact us and we can navigate this with you and the insurance company.

Condo Regulation

Condo regulation rules have changed as of January 1 2020. Over the past 10 years, we have seen a steady increase to deductibles in condo insurance policies and deductibles can range anywhere from $5000 up to $250,000 for larger properties. The insurance market for condos has been one of the most unstable markets in the province due to environmental loss, huge property limits and owner occupied claims. As of January 1, 2020 an amendment to the Condo Act in Alberta requires Condo Corporations to insure a condo building for the full appraised replacement value, which in turn drives up the deductible in order to mediate the overall premium cost of the policy. Applying a higher deductible helps to manage insurance premium costs (which have tripled now that Condo Corporations are required to insure to full replacement value).

The important part to note about this regulatory change is that, if you own a condo unit and your unit causes a claim, Condo Corporations can now more easily pass along deductible expenses – up to a $50,000 maximum. This essentially helps share the burden of insurance costs with the unit owners insurance policy. Many standard condo insurance policies only include $25,000 for deductible expenses, so it is crucial to review your condo policy and coverage.

As your insurance broker, we have already been addressing this industry change and are reviewing and adjusting each of our condo policies to hold increased coverage of $50,000 for deductible expenses. The cost to the policy holder is minimal – in some cases only $50 to better protect you as the individual condo owner in the case of a claim. If you have any questions on this change, please don’t hesitate to connect with us, whether you are an existing client or not. We are always happy to answer questions.

You can review the condominium rules on the Alberta Governments website.

Butter and Milk Testimonial

Read our Butter and Milk Testimonial and find out why they are happy small business clients. Butter and Milk Bath Bakery is Red Deer’s newest local bath and skin care provider. Renea has some beautiful bath creations that are all vegan, gluten and nut free. The products are made without preservatives, dyes or artificial fragrances. Be sure to check out their awesome Mother’s Day collaboration with Craft Beer Nation…”Bubbles and Beer” (could it get any better than that?!). Butter and Milk has a great recycling promo program set up too. Check out their website for more info and all their gorgeous products.

Commercial insurance needs can vary so much with small businesses. We take pride in thoroughly reviewing business operations and insurance needs to make sure your business is set up with the product and policy that fully meets your needs. One of the most important components to Butter & Milk’s insurance policy is the appropriate liability coverage, considering the manufacturing of products used on skin. Here’s what Renae had to say about her insurance experience with us as her broker:

“Starting a company is difficult. Trusting Beyond Insurance is simple. Considering the unique nature of our products, we anticipated finding the appropriate insurance could be a challenge. However, Beyond insurance got us exactly what we needed in no time. Matt not only found an insurance policy we can trust, but guided us through the entire process with comfort and ease. Additionally, Matt & Andy have helped us build local partnerships and encourage community collaborations. We would highly recommend Beyond Insurance!”

Doug & Bre’s Testimonial

Read Doug & Bre’s Testimonial to find out why Beyond Insurance is the best option for your insurance Red Deer. Another great personal lines insurance testimonial from happy clients! Bundling your home & auto is a great way to maximize discounts and boost your savings! If you’re worried about having to get a vehicle inspection in order to switch companies, don’t let that hold you back. Many companies are just looking for photos in place of an inspection, which can save you hundreds of dollars right there! Ask us today for a quote and let’s see what we can save you.

Bre & Doug say: “Matt and Andy are in our corner. Everything from navigating insurance province to province, making things work on the fly and coaching us though a rental water damage claim. We can level with them and they make service simple for us. In addition to this, they helped save enough on our policies that we are almost getting a motorcycle insured at no extra cost.”

Who doesn’t love saving enough money on their insurance to buy a motorcycle?! Win win! Thanks Bre & Doug for your kind words.

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