Homeowners Insurance

WELCOME FROM THE PRESIDENT

Thank you for visiting the Dan Lawrie Insurance blog site! If you are an existing client, I hope that you’ll find it a valuable insurance resource to return to again and again. This site provides articles and news for you to keep informed of everything that is happening in the insurance world.   If you’re not a client yet, I invite you to take a look at Dan Lawrie Insurance here as a starting point and then to contact us to learn more about auto, home, life, business and other insurance services that may interest you. I can assure you that your satisfaction means everything to us! Our Core Values of Dan Lawrie Insurance People are at the heart of any company’s ability to succeed, people who share the same values and purpose. Our shared Core Values guide us in…read more →

Time to Winterize part 2: Your home

You make sure you have everything you need for the winter, you winterize your car, so you should winterize your home also. Here are a few tips to winterizing your home:  Clean your gutters.  Cleaning your gutters of debris will ensure that snow and rain will flow freely. Fix those leaks.  Common areas for leaks include recessed lighting areas, windows and door frames and electrical outlets.  Get weather resistant caulk for the outdoor areas and caulk away. Wrap your water pipes.  If a water pipe freezes, it could burst and no one wants to have that happen in the dead of winter.  Go to your local hardware store and get foam rubber sleeves. Insulation.  According to one expert,  Danny Lipford, “”Another thing that does cost a little money — but boy, you do get the money back quick — is…read more →

B.C. earthquake exposure presents opportunity for insurance carriers as some drop coverage

Earthquake risk in British Columbia is a “pocket of opportunity” for global insurers, as some carriers have “curtailed” writings while insured values are increasing, suggests a new report from Aon Benfield. The reinsurance division of London-based Aon plc announced Sunday the release of its 2013 Insurance Risk Study, which included several statistics on each of 50 property and casualty insurance markets. It also included in-depth studies on six countries, including Canada, in order to “identify potential growth opportunities.” The studies on those six countries “combine demographic, economic, sociological and political information with insurance data insights,” Aon Benfield said. The other five countries included in the in-depth studies were Colombia, Indonesia, Malaysia, Mexico and Turkey. Canada, Malaysia and Indonesia had five-year combined ratios below 100%, Aon Benfield noted, adding that while Canada’s five-year annualized gross domestic product growth rate was 2.8%,…read more →

Canada: Flooding now huge concern for insurers, says expert

Water damage now a ‘major issue’ as claims skyrocket Insurance companies are rethinking what coverage they offer, and at what cost, following the heavy rains and flooding that swamped Toronto and parts of Alberta this summer. Water damage is now a “major issue” for insurers, unlike years past when such coverage was often tacked on to policies as an after-thought, according to Greg Robertson of R. Robertson Insurance Brokers in Toronto. “Back in the day, water coverage was inexpensive because water wasn’t as big an issue,” Robertson said Thursday on CBC Radio’s Metro Morning. “But now the changes to weather patterns cause rains to come on strong, sudden, and to dump extreme amounts of water.” The total cost of the flooding in Alberta is estimated at over $5 billion. The cost to insurers from Toronto’s flood is pegged at $850…read more →

Canada: Alberta province faces more than $3 billion in flood-related damage

The Alberta government is already on the hook for more than $3 billion in flood-related damage as the total cost from last month’s disaster becomes clearer. In an interview Tuesday, Finance Minister Doug Horner said the government has compiled some “pretty interesting estimates” for uninsured losses to homes and businesses, as well as municipal and provincial infrastructure. “We know that we’re well over the $3-billion mark in the total damage piece that we have,” Horner said, declining to provide a more precise breakdown. “It’s not an exact science at this point, but we’re getting there.” Horner said the government’s figure doesn’t include losses covered by insurance. Last week, Premier Alison Redford told the Herald that an estimate from the insurance industry puts that figure at approximately $1.3 billion, although the figure is changing as more claims are made. The Progressive…read more →

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