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Insurance tips for vacationers, cottagers and snowbirds

(NC)—Most of us buy supplementary medical insurance when we travel outside the province, but the possessions we leave at home should also be adequately insured – even if our absence is just a quick getaway, or a few days at the cottage. Take a look at these tips from the Financial Services Commission of Ontario (FSCO), the agency responsible for regulating insurance in the province: Home Insurance: • During normal heating months, drain the water pipes before you leave, or have a reliable person visit on a daily basis to make sure the heat is maintained. Insurance companies won't cover plumbing damage caused by water if you haven't taken these precautions. • Arrange for someone to clear snow from your roof. Some policies don't cover a roof collapse due to excess snow. • Check coverage limits on valuables to determine if there are limitations for loss or damage to these items. • Check the policy for other "away" requirements. If your property is left unoccupied or unattended for extended periods of time, the coverage could be cancelled. • Check the effective date to make sure your policy doesn't expire while you're away. Automobile Insurance: • Check the effective dates of your driver's license and validation sticker to make sure they don't expire while you're away. • If you plan to rent an automobile, check with your insurance company, broker or agent to determine whether you'll need supplementary insurance coverage, such as the collision damage waiver offered by auto rental companies. The brochure Protecting Yourself When Renting an Automobile at fsco.gov.on.ca offers valuable tips. • If you plan to drive your own automobile, notify your representative if the trip outside Canada is for more than 30 days. Reconfirm that you have the proper coverage, vehicle registration, and driver's license requirements for the jurisdiction in which you will be driving. • If you are leaving your automobile at home unused, consider suspending certain coverages, such as collision insurance. It may save you money, so ask your representative. Be sure to replace suspended coverage when you return. More information on insurance is available online at fsco.gov.on.ca. Credit: www.newscanada.com

 

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