Help & Support - Glossary

No-Fault Insurance means you deal with your own insurance company for a claim, regardless of who is at fault for the accident. This means you can be reimbursed without waiting for legal responsibility to be decided for most types of injuries.

Fault is still assigned, even though we use the term no-fault insurance. Insurance companies estimate the degree of fault assigned to each driver as it affects premiums. In Nova Scotia, New Brunswick, Ontario, and PEI, this is based on fault charts or rules, to help keep decisions fair and consistent.*

*Not applicable in Quebec.

If your claim is covered by more than one policy, this means you only pay one deductible*. 

*Not available in Quebec. 

Insurance helps homeowners with the costs from unpredictable, sudden, accidental events. That's why some perils (causes of damage) are considered insurable, and others are not.

Here are some examples:

• Damage from freezing outside the home, from waves, melting or moving snow and ice, heavy frost, as well as snowslide and landslide is uninsurable
• Damage from insects, rodents (and sometimes raccoons) is not insurable
• Direct damage from intentional application of heat is not insurable (e.g. shrinking of clothes in a clothes dryer), but if the dryer sets the clothing on fire, and the fire damages the room and its contents, that damage is covered

Guaranteed Replacement Cost is available as a part of Homeowners policies

This coverage permits you to rebuild, repair or replace your dwelling even if the loss or damage exceeds your policy limits. There are conditions which apply to this coverage.

Please connect with us to ensure that you have adequate coverage to protect you and your family.

Actual Cash Value is the current cost to repair or replace a damaged item minus depreciation. Most items lose value over time, this means during a claim, you will be offered the value of insured items in their used condition, not what it could cost to replace the items with new items.

Replacement Cost is the actual amount it would take to repair or replace a damaged item without depreciation.

The term "dwelling" within the context of an insurance policy refers to a house, apartment, or other residence. In insurance terms, a dwelling also may include:

• Attached structures, like a carport or garage
• Permanently installed outdoor equipment, like a pool and the pool equipment attached to it
• Building materials on or adjacent to your property
• Plants, trees and shrubs (note though, that coverage is a very small amount per item, are only for certain specific perils, none of which are weather related)

The term "unit" is generally used to refer to a condominium.

For insurance purposes this is a chance event that is unexpected and accidental. Damage to your home by a fire due to an electrical fault is an insurable risk because it is unexpected and accidental. Wear and tear is an expected risk and uninsurable.

Accident Forgiveness protects your driving record with Scotia Home & Auto Insurance after your first at-fault accident. Your driving record is one of the factors that helps determine your premium.

We have a few different products including Enhanced Accident Forgiveness, Preferred Accident Forgiveness, and Accident Rating Waiver. Please connect with us to discuss your protection options.*

*Not applicable in Quebec. Please contact us at 1.833.223.8740 if you have questions about services offered in Quebec.