With all the talk about the Mayan calendar these days, it seems like a good time to look at what trends have been going on in the last year with regards to catastrophies and how it relates to our coverage and premiums.
Unlike automobile Insurance you are not required to have building insurance if you own the building free and clear. By not buying insurance you are 'self-insuring' your building and and liability losses that may be associated with it.
When liquor is served organizations may be responsible for those served. Liquor liability includes serving people past the point of intoxication. Any organization, company, or individual with possession of or responsible for a premises are responsible for protecting persons on their premises from harm. Employers have a liability exposure where employees consume alcohol at functions like staff parties. Liabiity exposures also exist if security are used to monitor patrons if excessive force is used to manage intoxicated patrons.
Alberta and Agriculture are terms that are strongly linked. With crops valued at $3.7 billion and livestock at $3.5 billion and an overall $7.7 billion industry the economic importance is clear. With a growing worldwide population, an increasing demand for meat from developing countries will create a demand for Alberta agriculture products like never before. This is why it's so important to have comprehensive Farm Insurance and crop insurance. Failure to be covered properly could result in catastrophic financial and physical losses.
In recent weeks we have seen the start of the thunderstorms and hail across Alberta. Once your crop is up we all turn a wary eye to oncoming storms. Are we going to get hail, what effect could this storm have upon my crop yield.
With car insurance rates potentially on the rise one consideration when purchasing a car is whether it may be a target for theft. Vehicles targeted for theft are more expensive to insure. High end vehicles are often targeted by criminal organizations who then sell them for parts. To help avoid buying a stolen car consumers can buy from reputable dealers, and reputable repair shops. Get a car history report to lessen the chances of becoming a victim of auto theft.
Purchasing home and life insurance is a no-brainer. But what about taking the proper precautions to ensure that you hopefully won't need to make claims? The weather is right for cycling - are you wearing your helmet?