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Top Five Reasons Why You Should Get Insured

calgary home insurance rogers insuranceWhere do you see yourself in ten years? Will you be happily married or will you be engaged in running your own business? Whichever future you choose to have, it is important that you get yourself insured today so that you can get to that tomorrow safe and healthy. Calgary home insurance has become a necessity these days that not only is it the financial back-up plan that most people have. Today, it plays a vital role in the success of individuals and their personal plans.

Depending on the type of coverage you choose, getting home insurance is pretty much easy on the pocket. If you come to think of it, the coverage that most insurance companies offer are fairly cheap compared to the amount of security they could actually provide. Because it is about buying the money you need in the future today, then you are likely to be buying a good life at a rate that you can actually afford today. Apart from security, there are a couple of other reasons why you should have gotten insured yesterday.

  • Protect yourself and your loved ones. If you are the breadwinner in the family, it is a must that you have Calgary home insurance. This is to make sure that the ones you’d be leaving behind will have enough to survive and that they have a good home to grow old in.
  • Financial security today and tomorrow. Even if you do not have a lot of properties and other valuable things you could pass on to your heirs, insurance can be one of the best ones you could leave behind. When monetary needs arise in the future, you know that they will have enough. You know they will have a house they could share memories in.
  • Debt pay-offs. Apart from ensuring that your family has enough to live by, your insurance policy can also be used to pay off debt when the time comes. At least, your debts won’t be add-on burdens to the ones you’d be leaving behind.

There is always a better chance to improve one’s life through Calgary home insurance and unless you want your loved ones to suffer, getting insured today should be on your top of today’s to-do list.…

A Quick Overview Of The Principles Of Insurance

Insurance companies take very serious risk whenever they insure something they are not given full disclosure of.  After all, it is not they fully scrutinize or examine everything that is being insured.  Due to such vulnerability, scheming individuals have tried to create fraud for the purpose of benefiting from financial gains.  In order to protect themselves from such the many frauds and vulnerabilities they have, a consortium of insurance companies created the Six Principles of Insurance as a measure to safeguard their best interest from scheming fraudulent individuals or entities.

Here’s a quick overview on the principles of insurance:

Principle of Utmost Good Faith – it is understood that all the details of what is being insured is disclosed by the client.  This not only allows for proper estimation or evaluation of value, but also as a matter of good faith in doing insurance business.  Failure to divulge important information means claim for the insured will be denied and possibly reimbursement of premiums is only what the policyholder will get.

Principle of Insurable Interest – it is vital that the item being insured is considered valuable to the client because if it is not, there should be no purpose in insuring the item unless they intend to commit fraud.  Any item or property that is valuable to the client that is of little risk to the insurer insuring is the only thing insurable.

Principle of Indemnity – the claims provided by the insurer will not exceed the cost needed to replace or repair the item.  The insurer will indemnify that once claims are paid that the item insured will be deemed to be at its pre-damaged state.

Principle of Proximate Cause – claims made will only be provided under proximate cause of the coverage.  Due to different coverage available for different types of insurance, any loss from similar eventualities but fall under different coverage will not be entertained by the insurer. As an example, damages from hurricane and flood are different coverage.  However, the latter may come as a result of the primer.

Principle of Subrogation – any damage caused by a third party will be shouldered by the insurer, but the third party will be sued by the insurer for the financial damage dealt upon them for the claims the policyholder has made.  Settlements by the third party to the insurer will usually cost more than double than the damage they have inflicted.

Principle of Contribution – an individual cannot be insured by two insurance companies under the same policy or coverage.  Even if the insured pays premiums to both insurance companies, should they file any claims, they will only receive one claim with which the value will be shared, as contribution, by the two insurers.…