Help & Support - Glossary

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.

Also known as rental vehicle coverage. This option extends your policy coverage when you rent a vehicle in Canada or the US. Avoid the need to purchase insurance from the car rental agency. Some limits apply.

For customers renting a vehicle once a year or more frequently, this can equal significant savings.

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.

Collision Coverage covers damage to your vehicle caused by collision with another vehicle or object, upset of the vehicle, or in the event of a hit-and-run. This is optional coverage and is subject to a deductible.

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.

A driving record abstract may refer to one of several documents requested by your insurance company:*

• Motor Vehicle Report or Abstract: This lists your class of driver's licence, convictions or suspensions, and sometimes the date of when you first obtained your licence. The information provided in this report varies by province
• Auto Plus Report: This report is a complete picture of an automobile insurance policy and claims history
• Driver's licence history: In Ontario, this report provides a detailed driver's history including proof of successful completion of a Ministry-approved driver's training course
• Statements from government insurers

*Requirements and documents may vary 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