Economical Insurance released a Q & A of some of the most common questions they're receiving from their Fort McMurray home insurance policy holders. Please note that this guide is subject to coverage under Economical and Economical Select property policies only.
What does my policy cover for living expenses while I am evacuated?
In response to the Fort McMurray wildfires, Economical Insurance® is providing policyholders with initial emergency fund advances, as indicated below:
- Mass Evacuation funds provide coverage for any necessary and reasonable increase in living expense incurred while access to the “dwelling” or “unit” is prohibited by order of civil authority for a period not exceeding 2 weeks from the date of the evacuation order.
- Civil Authority/Prohibited Access coverage falls under Additional Living Expense Coverage (ALE). If a “civil authority” prohibits access to your “dwelling” or “unit” as a result of an Insured Peril, we insure any resulting Additional Living Expense OR Fair Rental Value loss for a period not exceeding two weeks.
Emergency funds up to $5000 less the deductible have been provided to policyholders to cover such things as hotels, food, clothing and other basic essentials. No further deductible will be applied for the balance of the claim.
What happens after the 2 week Mass Evacuation coverage and the 2 week Civil Authority expires?
If the authorities have not allowed re-entry, a further payment under the ALE coverage will be made until such time as the property can be assessed.
What happens after the evacuation order is lifted and I can return home?
Economical Insurance has a team of adjusters and appraisers at the ready. They will be stationed in Fort McMurray and work with our insureds throughout the entire settlement process.
Do I have to continue to pay my mortgage and/or other expenses while I’m not living at home?
Policyholders should contact their financial institution or any other service providers for direction.
My home wasn’t damaged by the fire or smoke but the food in my fridge and freezer is damaged, is it covered?
Yes. We expect the town to provide direction regarding disposal. The insured can provide a list of what was in their fridge and freezer for processing the loss.
What if I have asthma and I can’t move home immediately because of the air quality?
We will review each situation on a case-by-case basis. Insureds should consult with their physician, and we will work with them to accommodate their needs.
What happens next?
Our claims team will do everything we can to help our policyholders return to normality as soon as possible.
AUTO
What happens if I require a replacement vehicle while my vehicle was left in Fort McMurray and access is prohibited, or I suspect my vehicle is damaged?
All policyholders who have purchased loss of use (LOU) and reported a claim, have been provided the option of receiving a rental OR a cash payment in lieu, up to the LOU limit. When access is allowed, we will be moving all damaged vehicles to Impact Auto so we can assess damages.
Note: All policyholders have been contacted and we have the necessary information to communicate with them during the evacuation period. We will do whatever is necessary to accommodate the re-entry back into their community, once they are able to do so.
Reporting a claim
When reporting a claim, please supply us with your policyholder’s temporary location and current phone number to help ensure a timely response.
Report claims to 1-800-607-2424 or fax to 1-877-681-2048.
Northern Alberta Wildfire Support — Command Centres Update
Since the wildfire began to spread devastation throughout Northern Alberta, Economical Insurance® has responded and continues to be there for your customers when they need us most. After arriving on the ground in Alberta, Economical has provided over $1 million in emergency funding to help customers get through this difficult time.
Our command centres at Lac La Biche, BMO Centre in Calgary, and Northlands in Edmonton will close end of day on Monday, May 16.
Starting Tuesday, May 17, our teams will be available in our Calgary and Edmonton offices for cheque pickup between the hours of 8:30 a.m. and 4:30 p.m.
Economical Insurance — Edmonton Office
10158 103 Street, Suite 300
Edmonton, AB T5J 0X6
Economical Insurance — Calgary Office
322 11th Avenue SW, Suite 700
Calgary, AB T2R 0C5
Reporting a claim
When reporting a claim, please supply us with your policyholder’s temporary location and current phone number to help ensure a timely response.
Report claims to 1-800-607-2424 or fax to 1-877-681-2048.
