Monday, February 18, 2013

Recent regulations prohibit Canadians from driving in Florida - Insurance Implications??

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Thursday morning February 14th, news hit that Canadians were technically no longer able to operate a motor vehicle in the sunshine state of Florida. Legislators passed a law that would require non-U.S motorists to have an international driver’s permit in addition to their regular driver’s license.  

Immediate action was taken by the federal government in order to ensure Canadians driving in Florida were protected. A decision has been made to suspend the law for all Canadian drivers. However, in March, the Florida Legislature will reconvene to view the legislation.

The Florida Department of Highway Safety and Motor Vehicles are proposing that Canadians should be given an official exemption from the law, which was originally put in place to help law enforcement interpret foreign licenses in other languages.

Following the announcement of the suspension, the Insurance Brokers Association of Ontario confirmed with the majority of insurance companies that they will not deny coverage.  Please contact your local insurance broker to specifically understand how your insurer will handle this situation.


Thursday, February 14, 2013

What YOU need to know about your Valentine’s Day purchases!

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With Valentines Day right around the corner, you may be planning a trip to the jewelry store.  Getting your special someone a sparkling gem is very exciting!!  So…in light of the up coming festivities, I will be pointing out some great tips on ensuring your jewelry is adequately covered just in time for the 14th of February!!

Although basic tenants, condo or homeowners insurance might include a limited amount of coverage for jewelry, the coverage is best purchased as an extension, or floater, to your property policy.  A current appraisal is often a requirement however this is something that is commonly provided by the jeweler at the time of purchase.  

Now read very closely. THE BIGGGEST reason why you want to schedule an item is simply because, if a diamond or stone goes missing, it gets replaced and covered for the FULL appraised value.  An added bonus is that the deductible does not apply to this type of claim.

It’s important to keep in mind that jewelry should be appraised periodically to accommodate fluctuation in value and to protect your investment.

Remember, it is of utmost importance to call your Insurance Broker should the value of your item increase.

Happy Valentine’s Day to all you lovers out there!!


Written by Geneviève St-Denis, Account Executive, Rhodes & Williams