Amidst an economy of rate increases and deductable adjustments resulting from substantial losses to flooding in Alberta this year comes some good news. Wawanesa insurance announced today that they are increasing limits in two areas of their base property insurance policy.
What is a Policy Limit?
A policy limit is the maximum amount that an insurance company will pay when an insured event occurs.
The following limit changes are effective as of October 1, 2013
Jewelery, watches, gems, fur garments and garments trimmed with fur.
- $4,000 increase (from $6,000 to $10,000)
Fire department charges.
- $7,000 increase (from $3,000 to $10,000)