What's New - Cambridge Insurance Brokers Limited

What's New

Mortgage Insurance vs Traditional Life Insurance Auto Insurance is Changing Career Opportunities Chamber of Commerce Group Insurance Plans Do You Know the Value of Your Personal Property? Water Damage Claims New Rules for Using Cell Phones While Driving Getting Ready for Winter Driving Snowmobilers-What You Need to Know New Rules for Boaters Is Travel Insurance Really Necessary? Safer Roads for Ontario Act - Speeding 50 km/h and New Penalties for Drinking and Driving Heart & Stroke Big Bike Ride
Mortgage Insurance vs Traditional Life Insurance Purchasing a home is one of the biggest financial decisions you will ever make. Protecting your family and your home in the event of death is even more important. Mortgage Lenders will often provide you with an option to purchase insurance protection with them. Is this your best option or is having your own life insurance plan in place the better choice? A comparison chart is attached outlining the differences between "Mortgage Insurance" and "Traditional Life Insurance". At CIB Financial, our licensed insurance representative will take the time to review your own situation and develop a plan that is right for you. Call today. Click here to view comparison chart. .
Auto Insurance Is Changing September 1, 2010 Automobile insurance is changing on September 1, 2010. Here is what you need to know about these changes. In Ontario, the Insurance Act determines the standard coverage that consumers must purchase. As a result of the reforms, some of the features under the Standard Auto Insurance Policy have changed. Beginning September 1, 2010, if you are either buying a new auto insurance policy or renewing an existing one, you will have more options to purchase a level of coverage that is right for you. What is Changing? The majority of changes under Auto reform are in the area of Accident Benefits. Accident Benefits are a standard feature found in all Ontario automobile insurance policies. They provide coverage for the costs associated with medical & rehabilitation services, attendant care, housekeeping and home maintenance expenses, caregiver expenses, income replacement benefits, dependant care, indexation (inflation) and death & funeral benefits, that arise as a result of an automobile accident. The biggest impact will be on lowering the limits of certain Accident Benefits while also giving you an opportunity to purchase additional coverage based on your needs. As a current customer, how is my existing policy affected by the reform? Your policy will remain unchanged until it comes up for renewal after September 1, 2010. When you receive your new policy documents, approximately 45 days prior to your renewal date, you will receive a package that contains all the information necessary for you to make an informed decision about the type of insurance coverage that best suits your needs. My policy renewal is after September 1st; should I change my existing policy now? As of September 1, every policy owner can change their policy. There are a number of factors to consider, however, with rate changes and coverage reductions, you may find it best to wait until your renewal date. To learn more about the changes to the Accident Benefit coverages, please call us. You may also find these websites of interest: IBC Insurance Bureau of Canada UnderstandingMyInsurance.ca FSCO Financial Services Commission of Ontario
We've moved! We are very excited to announce the relocation of our Head Office to 1165 Franklin Blvd., Cambridge, Ontario. We invite everyone to stop by and have a tour of our new office.
Career Opportunities We are an independent family owned insurance brokerage providing personal and commercial insurance needs solutions for our 10,000 + clients. We are always interested in speaking with individuals who: •Enjoy working with the public •Are flexible and perform well whether working alone or on a team •Want to take responsibility and be accountable for their work •Have a strong work ethic •Will share our vision of providing friendly professional service in a timely and accurate manner. We have three career streams in our brokerage: Account Administrators/Data Entry Client Service Brokers – Personal Lines or Commercial Lines Account Executives – Personal Lines or Commercial Lines Licensing Requirements – all brokers providing insurance advice to the public need to be licensed by RIBO (Registered Insurance Brokers of Ontario). More information can be found at www.ribo.com. Self study and in class instruction are available. While we prefer that prospective employees be RIBO licensed, this is not always a requirement. Education – A minimum Grade 12 diploma is required. Two year Business Insurance Diploma programs are offered at 4 colleges in Ontario: Conestoga College in Kitchener, Fanshawe College in London, Mohawk College in Hamilton and Seneca College in Toronto. Individuals graduating from one of these programs gain an in depth knowledge of insurance and may be eligible for advanced standing in continuing education programs. If you are a graduate of one of these programs,we want to hear from you. If you feel you have what it takes to be a success with our organization, please forward your resume.
Chamber of Commerce - Significant Discounts Available We have successfully negotiated group automobile and property insurance rates for members of the Cambridge Chamber of Commerce and the Milton Chamber of Commerce. These special discounted rates are available for Chamber members, their employees and their families. Contact us for a review of your insurance and see how much you can save!
Do you know the value of your Personal Property? If your home was destroyed or a theft occurred, could you compile a complete list of your personal property from memory? Most people couldn't but this is something you would be asked to do at the time you filed a claim. At Cambridge Insurance, we want you to have the coverage limts you need at the time you need them the most. To assist you, we have attached a Personal Property Inventory Checklist. This Checklist is designed to help you in listing your personal property and calculating the approximate replacement value. It will provide you with an important record of your possessions and serve as a way the determine if your current level of coverage is sufficient to meet your needs. While you are itemizing your personal property, you may find that you have some expensive or unique items that may require a professional appraisal to determine the appropriate value. An appraisal will also provide a detailed description of your property. Once you have completed your inventory, you should then determine whether your current insurance coverage is adequate or if you need to increase or add coverage for certain items. If you have any questions or need to make changes to your coverages, contact us. Your personal CIBL Customer Service Broker is available to assist you in protecting your valuable assets. Click on the link below to complete your Checklist Personal Property Checklist
Water Damage Claims According to the Insurance Bureau of Canada, water damage claims are escalating across Canada and have surpassed fire, theft, wind and hail as the leading cause of home insurance claims. On average, the Canadian insurance industry pays $1.5 billion per year in claims due to water damage. Why is this happening? Changing weather patterns bringing more frequent and intense storm activity Aging infrastructure unable to handle these weather pattern changes Lifestyle changes with many homes having main floor or second floor laundry rooms, numerous bathrooms, finished basements with higher end furniture and electronics which increase the costs associated with water damage What are some common types of water damage? Basement flooding resulting from sewer backup and/or sump pump failure Burst pipes due to freezing or aging plumbing systems Overflow or leaks from toilets, tubs, sinks and appliances (fridges, hot water tanks, washing machines) Roof leaks from heavy rains or ice damming What can be done to prevent water damage? Know where the main water shutoff valves are located in your home and have shutoff valves on the water lines under sinks, toilets and leading to outside faucets Replace deteriorating or cracked hoses on appliances Install backup valves to help prevent sewer backup Install sump pumps with backup source like battery or generator Ensure downspouts extend as far away as possible from basement walls and are disconnected from the sewer system Replace old or corroded pipes Replace aging fixtures, toilets, tubs Keep roof coverings in good repair and replace when worn Items kept in the basements should be stored off the ground and in plastic containers What should you do to protect your home when you are away? Turn off the main water supply and drain your pipes Turn off the water valve leading to your washing machine, toilets and dishwasher Arrange for someone to check your home regularly to ensure no water damage has occurred In the winter have someone check daily to ensure your home is adequately heated What should you do in the event of water damage? Don’t do anything unless it is safe to do so Turn off electrical power to the affected area and unplug and remove electrical appliances Call the gas company if gas fumes are detected Shut off the main water supply Separate damaged and undamaged items; moved undamaged items to a dry area of your home Don’t flush toilets or turn on taps if damage is due to sewer backup Call your CIBL insurance advisor 24/7 for assistance and advice. We are here to help you.
New Rules for Using Cell Phones While Driving Legislation has now passed in Ontario affecting the usage of cell phones and other hand held devices while driving. Drivers who text, type, email, dial or chat using a prohibited hand held device could face fines of up to $500. What is NOT allowed while driving unless the vehicle is pulled off the roadway or islawfully parked: Hand held wireless communication devices such as cell phones, iPods, MP3 players or portable games Texting and emailing Viewing display screens on laptops or DVD players What is allowed while driving: Hands free wireless communication devices with an earpiece or Bluetooth device 911 calls Pressing the button of a hand held device to activate hands free mode for incoming or outbound calls Collision avoidance systems Use by emergency services personnel such as police, fire and ambulance Logistical transportation tracking devices used for commercial vehicles
Getting Ready For Winter Driving Winter driving presents a special challenge for drivers. Prepare your vehicle before the snow begins to fall: • Ensure your electrical system is running properly. Recharge or replace your battery if it's weak. • Check your brakes • Have your tires checked for proper alignment, pressure and tread depth. In areas where temperatures dip colder than -7 degrees Celsius, you should consider purchasing winter tires. Winter tires maintain gripping on ice, snow and slush. • Check your exhaust system for leaks. Leaks increase your risk of carbon monoxide poisoning. • Make sure your vehicle has antifreeze rated for the coldest weather. • It's a smart idea to replace your windshield wipers every year before winter begins or purchase winter rated windshield wipers. And when you hit those winter roads, there are a few important things to remember: • Avoid driving when fatigued. • Check weather conditions for your travel route before you depart. Contact your provincial "Road Reports" to get regular updates regarding road conditions. • Bring a cell phone if you have one, but don't leave it in the car — the battery will freeze. Finally, you should prepare a winter driving kit to keep in your vehicle at all times. A well-stocked kit can help you handle any on-the-road emergency. Here are a few ideas: • Bag of sand, salt or kitty litter • Traction mats • Snow shovel • Snow brush • Ice scraper • Booster cables • Warning devices like flares or emergency lights • Fuel line de-icer • Roll of paper towels • Extra windshield wiper fluid • Flashlight • Blanket • Extra clothing • First aid kit • Snack bars or other emergency food and water • Matches and candles. Keep your window open to prevent a build-up of carbon monoxide. • Road maps
Snowmobilers - What you Need to Know Snowmobiling is a very popular sport enjoyed by many of our clients. Before you head out on the trail, remember these important rules: Operators are required to have: a valid driver's license or Snow Vehicle Operator's License ownership and registration proof of insurance an Ontario Trail Permit affixed to the windshield if operating on Ontario Federation of Snowmobile Clubs (OFSC) prescribed trails helmets for all drivers and passengers Drivers aged 16 and over may operate a snowmobile on trails and highways where legally permitted but must hold a valid driver's license or a Snow Vehicle Operator's License. Drivers aged 12-15 who hold a Snow Vehicle Operator's License may operate a snowmobile on OFSC prescribed trails, however, it is illegal for a person under the age of 16 to drive on or drive across any road.
New Rules for Boaters - Pleasure Craft Operator Card As of Sept. 15, 2009 ALL powerboat operators must obtain a Pleasure Craft Operator Card accredited by Transport Canada. Previously taken boating safety courses may be recognized and experienced boaters may take a challenge test without taking a course. Foreign visitors with a pleasure boat in Canada will be granted a grace period of 45 consecutive days. People renting a vessel must complete a dockside checklist. Operators must obtain a Pleasure Craft Operator Card and carry it with them at all times while operating a power boat! You may no longer Grandfather a Pleasure Craft Operator Card! Will boaters who have previously taken a boating safety course be required to take another course or test? Those who have taken a boating safety course prior to April 1, 1999 will not be required to take another course or test. A copy of a certificate or a card issued at the completion of courses taken prior to April 1, 1999 will need to be carried on board the pleasure craft. Can I exchange my certificate for a Pleasure Craft Operator Card? No. The Competency of Operators of Pleasure Craft Regulations clearly states that a Pleasure Craft Operator Card is a document issued to a person by the administrator of an accredited test, to a person that has passed the test. Therefore, a card cannot be issued unless an accredited test has been passed. What should I do if I receive training prior to April 1, 1999 and my certificate does not show a completion date? If the course provider that issued the certificate is still in existence, you can contact them to issue you a certificate showing the appropriate completion date. Otherwise, you will need to obtain a Pleasure Craft Operator Card.
Is Travel Insurance really necessary? In a word, yes it is. Your financial security is at risk if you travel uninsured outside the province of Ontario. The Canada Health Act requires the Ontario Health Insurance Plan to cover your medical costs in Ontario only. You may incur large out of pocket expenses for hospitalization, prescription drugs and emergency surgeries sustained from an injury or accident. Travel Insurance can provide you with peace of mind while away from home. Why Get Private Insurance? • Many health services outside Canada cost much more than the coverage provided by OHIP (Ontario Health Insurance Plan). You are responsible for any difference in cost. • Some health services are not insured by OHIP. You will have to pay the full costs for these services. • An accident can happen to anyone, even during a very short business or recreational trip. Extra insurance should be purchased before you leave Ontario. I have Group Insurance, do I still need to purchase Travel Insurance? • It is important to be aware of any limitations in your group insurance plan. It is recommended that you read your contract carefully as there may be restrictions and limitations. • Group Plans may only cover a small portion of emergency medical care • Some services have deductibles and you are often required to pay in advance and receive reimbursement only upon return What types of coverage may be available with Travel Insurance? • Accommodation costs and meals for your spouse or travel companion • Transportation costs if your return is delayed due to accident or illness • Cost of medical evacuation by land or air ambulance or by commercial flight • Repatriation of remains • Transportation costs to bring a loved one to you if you are hospitalized for an extended period of time • Vehicle Return Costs to drive your vehicle to your home if you cannot drive due to accident or illness • Lifeline costs (clothing, toiletries) if your baggage is delayed • Dental injuries caused by an accident • Accidental Death and Dismemberment • Trip cancellation and baggage coverage At Cambridge Insurance Brokers we can provide you with the coverage best suited to your needs.
Safer Roads for Ontario Act Speeding 50km over On September 29, 2007, the Ontario government passed legislation to address excessive speeding. Anyone caught speeding 50 km/h over the limit will incur the stiffest penalties in all of Canada and the United States. If you are caught, be prepared for: Fines ranging from $2,000 to $5,000 7 Day License Suspension 7 Day Vehicle Impoundment Towing and Impound Storage Fees 6 Demerit Points Possible Driver's License Suspension for a maximum of 2 years Offense remains on your record for 10 years Repeat Offenders face a possible driver's license suspension of up to 10 years Substantial increase in your insurance premium New Penalties for Drinking and Driving Each year, about 16,000 people are convicted of drinking and driving with a blood alcohol concentration above 0.08 in Ontario – about two people each hour. About a quarter of the province’s annual road fatalities are alcohol-related. The new legislation targets impaired driving by: Creating escalating administrative sanctions for repeat drinking drivers measuring 0.05 to 0.08 blood alcohol concentration (the “warn” range) - effective May 1, 2009 First instance: driver suspended for three days Second instance: driver suspended for seven days and must undergo remedial alcohol education program Third or subsequent instance: driver suspended for 30 days, must undergo remedial alcohol treatment program and have ignition interlock condition on their licence for six months Measures to increase installation of ignition interlock devices by convicted offenders - pending implementation Allowing the use of the civil forfeiture law to take vehicles away from people who continue to drink and drive - effective February 20, 2008.
Heart & Stroke Big Bike The Heart and Stroke Foundation leads the way in protecting the health of millions at risk of heart disease and stroke. One in three deaths in Canada are due to heart disease and stroke. Cambridge Insurance Brokers was a proud participant in the Heart & Stroke Big Bike Ride on Tuesday, May 26, 2009 raising a total of $5000! Thank you everyone for your support!

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