We know there are many myths & truths of insurance floating around out there & we are here to try and help bring some clarity to the issue!
#MythsMondays
Travel Insurance Doesn't Pay Out!
Insurance is a means of protection from financial loss. Insurance companies exist in order to help mitigate unforeseen and sudden events thus protecting the insured's financial well-being upon the occurrence of a specific event, specified loss, damage, illness, or death in return for payment of a premium. In the case of one of our travel insurance providers, Allianz Global Assistance, they have an excellent track record in Canada, with exceptionally low claim denial rates. In 2015, AGA recorded a 92.5% payout rate. Clients are best encouraged to carefully read their travel insurance policy to understand the benefits, exclusions and limitations. When you have questions, WE are the reliable source and trusted expert to provide clarification. We also carry many providers to meet a wide variety of clients needs. To name the major carriers we have, Saskatchewan Blue Cross, Group Medical Services, & Allianz Global Assistance.
Plates expire? Licence expire? Sitting on the side of the road with an unregistered vehicle?
Did you know Saskplates.com can get you back and on the road in no time, even from a mobile or tablet device? Set-up your account today through www.Saskplates.com and don't get left on the side of the road.
It's even simpler now! If you have an active SGI policy you can set up your account directly on the website without having to call us.
Here are some of the many transactions you can now do online from your home computer or mobile device through Saskplates.com:
- vehicle registration
- plate cancellation
- driver's licence renewal (non-photo)
- address and personal information changes
- print vehicle registrations
- get quotes on Auto, Home, Condo, Tenant Paks and more!
- make payments
- pay your receivables
You can also contact US about any of your insurance needs! Phone 1-888-450-2700, email us at broker@alhattieinsurance.ca, or come by for a visit at our office located at 3020C Arlington Ave, Saskatoon, Saskatchewan.
We have a winner! Agnes Hyde was drawn out of the raffle on April 12 to win an autographed Blades jersey. She will be entered in IBAS's province-wide contest for the grand prize of a ttrip for two to Quebec City to attend two games of the MasterCard Memorial Cup. Thanks to everyone who entered, the Blades hockey team, IBAS, the WHL, and good luck Agnes in the final draw for the tickets to Quebec City!
LOCATION:
Rural Saskatchewan road
CAUSE OF LOSS:
Collision with a locomotive at an uncontrolled railroad crossing
COST OF LOSS:
Total paid/reserved: $650,000. (Trailer: $50,000; Property damage to train: $600,000;
Loss of earnings/business interruption due to damage to train tracks and locomotive: undetermined)
In December, the insured was driving a load of wheat to a terminal. Distracted, he drove through an
uncontrolled rail crossing. An approaching train split the trailer in half. The insured’s package policy
protected him for $1 million of liability, which covered the loss.
LESSONS LEARNED:
Avoid financial ruin by carrying the appropriate insurance coverage; for a minor cost (an extra $30 in
this case), you can protect yourself from unnecessary loss.
LOCATION:
Rural Saskatchewan highway
CAUSE OF LOSS:
Head-on collision
COST OF LOSS:
Total loss: $2.5 million. (Truck and horse trailer: $250,000; Property damage – horses, truck and
trailer: $2.5 million)
DETAILS OF LOSS:
A young son was driving his mother’s car on a rural Saskatchewan highway. He crossed the centre
line and collided with a semi-tractor trailer, causing the semi, trailer and cargo (competition horses)
to be deemed a total loss. The insured had basic plate coverage of $200,000 and $1 million liability
on the policy. Due to the special design of the trailer and its use, a large loss of use claim occurred.
As well, the horses were expensive animals and brought a large property damage claim of
$2.5 million. The insured was not covered for approximately $1.3 million of the claim.
LESSONS LEARNED:
Always carry the right amount of insurance for your protection – though basic plate insurance is
significant, it may be necessary to purchase more coverage to be fully protected from all losses. In
this case, for an additional $60, the total loss would have been covered.