31 Oct What changes should I communicate to my insurer
When you do not work in insurance, it is not easy to instinctively know what changes are important to communicate to an insurer. Certain changes to our situation must be communicated because they could have an impact on the coverage or on the premium itself.
However, in insurance, a file must not always just be current and up to date, but also with truthful information.
Sometimes, to pay a lower premium, some people are ready to omit certain details, and this is a practice to be avoided. The cost of not being truthful to save a few dollars can end up costing us much more.
Here is a list of situations to communicate to your broker or insurer.
- Your address has changed.
- You have used your vehicle outside of Quebec for more than 180 consecutive days.
- A new driver is using your vehicle.
- You have made changes to your vehicle or installed equipment increasing its value or performance.
- You have had an anti-theft or tracking system installed or disabled.
- You, or any other driver of the vehicle, have been convicted of an offence under the Highway Safety Code, or have had a driver’s licence suspension.
- You, or another family member living under your roof, have a criminal record.
- Your work or occupation has changed.
- You have changed your vehicle usage.
- The distance travelled to get to work has changed.
- You have put your vehicle in storage or have put it back on the road.
- You are using or planning to use your vehicle for paid passenger transportation or for leasing to third parties.
- Your vehicle no longer has a creditor.
- You have done major renovations or repairs to your home.
- You have acquired property that significantly increases the value of your home’s contents, or you have acquired a new residence or piece of land.
- You have acquired valuable goods such as: computer, electronic or multimedia equipment, or video games / jewelry, antiques, fine art objects / bicycle, wine cellar.
- You have installed a swimming pool, spa, or sauna.
- You have an individual water heater that is more than 10 years old, or you have installed an auxiliary heating system (wood, gas, oil, etc.).
- You have had an alarm system installed or deactivated.
- You have become the owner of an animal such as a dog, or an exotic animal, etc.
- A new person is living at your residence.
- You have transformed the structure of your building to accommodate tenants or boarders.
- You provide childcare or foster parenting services at your residence.
- Your house is vacant or unoccupied.
- You are renting or planning to rent your home to a third party, including for house exchanges and short-term rentals.
- You have declared bankruptcy, or you have or another family member living under your roof has a criminal record.
- You have property stored away from your home (personal items left at a cottage rented temporarily or at a campground).
- You carry out professional or commercial activities at your residence, or you do remote work from home or keep work equipment there (tools, computer equipment, etc.).
Jackie Beaudoin, Leclerc Insurance and Financial Services