We strive at Al Hattie Insurance is to ensure that as a policy holder at our office you are properly covered under your insurance to cover modern claims scenarios in Saskatchewan. In years past, $1 million in liability coverage to a home, tenant, condo, or auto policy may have seemed more than enough. Unfortunately, this year has seen several claims rising not only above the $1 million but $2 million mark. Due to this trend, we are making sure that our customers are aware of the rising cost of fire and other claims to make sure they are fully covered in case of an accident.
A major fire claim in May this year was one of several incidents that show that rising cost of living and growing density in the city and province inevitably are leading to higher and higher claims. As people's busy lives don't always leave them enough time to or to study the claims market, we strive to make sure that you as the insured are provided with coverage that will do what it is supposed to in case of an emergency; make sure you are going to be covered in case of incident.
As of Jan. 1st 2014 all home, condo, tenant, and auto policies are going to be automatically renewed with $2 million liability coverage. We have unfortunately seen claims in the province that are well exceeding the previous standard of $1 million liability coverage and we don't want you to be paying for insurance and still end up with an enormous bill at the end of the day when an accident occurs. On most policies, to raise liability coverage from $1 million to $2 million will only see an increase of $1-$2 per month per unit on your current policy. $2 million liability coverage won't be mandatory, but will now be recommended for all policies as a minimum limit. If you feel like you are at risk of needing higher coverage, it is possible to also purchase up to $10 million liability coverage when you add an 'Umbrella' liability policy.
If you have questions regarding your policy, getting your coverage changed or increased, or don't know what coverage is best for your needs, please call us (306-955-2700 or toll free 1-888-450-2700) or stop by our office at 3020C Arlington Ave and talk to one of us.