(Q): What is Storage Insurance for?

(A): Storage Insurance is for vehicles that are not insured for driving. The reason we strongly suggest purchasing storage insurance on a vehicle is that, although you are not driving the vehicle and it is properly stored somewhere, your vehicle is still at risk of injury to a third party and is susceptible to damage such as fire, theft or vandalism and in rare occurrences even collision. You can’t fully control (A) what happens to your vehicle and (B) the people that encounter it, regardless of whether you’re driving or storing it.

(Q): Why do I have to come into the office to purchase insurance?

(A): For legal purposes, many documents must be present and signatures and identities confirmed in order for our agents to properly conduct business. Also we may require information pertaining to new clients such as void cheques, personal information or documents regarding them and also signatures. Meeting you face to face allows us to get to know you and your individual needs.

(Q): Who can sign insurance documents?

(A): In most cases, the signing of any insurance documents will be done by the named insured. If the named insured is unable to attend to sign, they may be able to extend authorization to someone else to sign on their behalf.

For vehicles, the ICBC Notice to Renew (NTR), which is mailed a few weeks before the expiry date of the policy can be filled out on the back portion of the letter by the insured and authorizes the alternate person to sign on behalf of them in select renewal transactions.

Financial portions can only be signed by the named insured, and all other transactions can only be signed by the named insured unless further authorization is obtained in the form of a Letter of Authorization (LOA) or a Power of Attorney (POA) which is either limited or unlimited depending on the authorization stated. Homeowners, commercial policies, and other types of insurance policies require either an LOA or POA if the insured is unable to attend. For further clarification, please contact us.

(Q): Why is renewing “as is” sometimes not enough?

Regardless of what the policy is being written for, it is a good idea to discuss the coverages, who will be operating the vehicle, and what the vehicle is being used for. For pro-rated and declared-value vehicles, it is always required to discuss those factors prior to renewing your policy. The benefits of doing so are proper and up-to-date coverage corresponding to your particular needs. For example, your liability coverage will be sufficient to cover the increasing cost of medical bills in the event of a bodily injury claimed against you.