London Drugs Insurance

Surprising (and little known) exclusions in many travel insurance policies

2012-01-27T10:43:00.000-08:00

So you read our blog post from Nov. 25th and you understand the need for travel insurance, but what you may not know is that your policy may not cover you in all situations. For example, are you covered if you’re injured while scuba diving or bungee-jumping? Can you be reimbursed for that elective dental work or surgery you have planned? People are often surprised by some of the things they assume will be covered, but actually aren’t.

One of the biggest surprises tends to be the alcohol, drugs or medication exclusion - if you happen to have a few too many drinks, stumble off a curb and break your ankle, your hospital costs will probably not be covered. Specifically, the wording states that there will be no payment for injury directly or indirectly caused by an insured person’s abuse of or intoxication due to the above substances.
And what if you’re injured while scuba-diving – does your insurance cover you? Well, it depends. If you’ve been properly trained and are certified by an internationally recognized and accepted program (like NAUI or PADI), then you most likely will be covered. If you’re not certified though, don’t count on having any related medical costs paid for by your travel medical insurance.

I’ll touch on bungee-jumping and other scenarios in the next article. Any other specific situations you’re wondering about? Leave a comment below and we’ll respond in future posts. Stay tuned for more in this series...

Written by Derek F.
Insurance Services Manager, New Westminster London Drugs

The real cost of saying 'No'

2012-01-05T11:20:00.000-08:00

I sell a product that most of my clients won’t use. Every day I take money from people in exchange for a promise from me and the companies I represent – a promise of restoration – basically that if you experience a financial setback under certain circumstances you will be restored to the financial position you were in before that disaster occurred (stick with me here, it gets more interesting).

The majority of people who turn their hard-earned money over to me in exchange for this promise never experience such a loss. Think about that. They pay but get no material object or physical property in return. So, when people pay for years and years and seemingly get nothing for it, some become embittered about the insurance transaction and the industry in general, and begin complaining about how much they’re paying.

I completely understand this by the way. I mean, I’d rather pay $100 for something I’m not going to use rather than $200, if I’m forced to buy it at all.

So what happens? People search out the cheapest coverage they can find. The decision to buy becomes based solely on whose price is the lowest. Often, the differences only become evident when it comes time to make a claim. Have you ever had to make a home insurance claim? Ever had your home damaged and discovered you did not have sufficient coverage?

Imagine for a second this scenario – your sewer backs up and there’s three inches of black water in your recently re-finished basement. You submit a claim only to find out that you’re not covered for this because you opted to save the $10 premium.

Or, let’s go future-tense here – The Big One is coming, we all know it. You decide that $40 per year is too much to pay for earthquake coverage for your condo or tenants package. Guess what happens when there’s a 7.0 nearby and your house starts rocking? All those broken dishes, toppled LCD and Plasma TV screens, smashed bookcases – none of it will be covered by your insurance policy.

If you’re a home owner and see cracks in the walls and ceilings, broken pipes etc., you’ll be concerned with the possibility of structural damage to your home. Again, if no earthquake coverage was paid for there will be no money from the insurance company to pay for these repairs. (Earthquake coverage for homeowner policies does cost more, depending on home values).

Bottom line (though it’s a tired cliché), you get what you pay for. That doesn’t mean you need to get the most expensive policy you can find either. You just need to make sure you know where the gaps in your coverage are and consider the effects of declining the coverages that would fill those gaps. (My Dad used to remind me all the time that you can choose your actions, but you can’t choose the consequences of those actions – discuss).

So. Now what?

You’re not an ‘Insurance Professional’ and may not know where to start or who to trust. Maybe you’ve put off the idea of home insurance because you think insurance companies just want your money and never actually pay out claims.

Or maybe you’re like I was before I ever bought a policy of my own - I found the whole application process overwhelming so I kept procrastinating, congratulating myself at the end of every month that went by and I’d kept that premium in my pocket. Each day that passed without disaster occurring enabled that once-pressing need for insurance to quietly fade into the background…

That works for a while - until your best friend’s mom loses her house in a fire. Or you hear a story about a relative who didn’t have insurance and had their dishwasher flood their kitchen and damage the neighbour’s place downstairs. The majority of first-time applicants that I see are either those who are buying their first condo, or individuals who’ve heard too-close-to-home stories of financial hardship caused when someone they love didn’t have adequate insurance. All of a sudden it becomes much easier to visualize ourselves in the same predicament.

Once you’ve made the decision to get started, don’t just walk into an insurance agency and HOPE the person behind the counter knows what they’re doing. I can tell you this sad-but-true fact: not all insurance agents are capable of correctly issuing a home insurance policy.

Find someone with a demonstrated ability to ask the right questions, explain the coverage in a manner you understand, provide the right information and arrange the proper coverage. You want to leave their office feeling like, “Wow, that person really knows what they’re doing – that was a great experience.”

How do you find that individual? Talk to your friends and do some research. Ask people you trust about their experiences, read up on the industry and do some homework. Don’t give up because it seems like too much work – it’s too important a subject to ignore. Losses like this do happen every day, and you can’t arrange for insurance after you experience a loss.

If you’re ready to begin having this conversation now, contact me at dfeswick@londondrugs.com for an explanation of our process, and to find out how much it might cost to insure your home.

Written by Derek F
Insurance Services Manager, New Westminster London Drugs

Safeguarding your vehicle during holiday shopping season

2011-12-13T09:54:00.000-08:00

Ever had your car broken into?

I can tell you it’s a terrible feeling when you’re standing outside of your car looking in, and you can see that someone has forced their way into your vehicle and taken things you worked hard to pay for.

Shock quickly turns to anger, irritation, confusion (who do I call? What do I do now? WHY would someone do this to me?).

According to the Vancouver Police Department’s website, there were 5729 thefts from vehicles from January to the end of September this year – that’s an average of more than 21 cars per day being broken in to. How can you minimize your chances of being a victim, and if you happen to become one, what are your options for recovering the value of stolen goods?

Especially at this time of year thieves are on the lookout for vehicles with lazy or forgetful owners. Buying bags full of loot and leaving it in the backseat while you continue your shopping makes your car a giant target (and don’t think that laying a jacket over the bags fools anyone)! If you must, lock them in your trunk out of sight. Have someone accompany you to your car if you have lots to carry. Take your iPods & phones with you, and remove the stereo faceplate for goodness sake - it shows potential thieves that you are conscious of what is left in your car, and that they should move on to easier targets.

What about making a claim? Can you make a claim for contents stolen from your car? ICBC will cover damage to the vehicle if there are signs of forced entry and if you’ve purchased optional Comprehensive coverage, but they won’t cover your belongings at all.

A surprisingly little-known fact however, is that many home policies DO provide this kind of coverage, up to certain limits. Whether you are renting or own your home, this coverage should be included in your Tenants, Condo and Home policies (you DO have home insurance right?). Check with your London Drugs Insurance specialist to be certain of the details surrounding this.

Be safe, be smart and enjoy the season!

Derek F.
Insurance Services Manager - New Westminster London Drugs

What to do after a Car Crash

2011-11-26T09:00:00.000-08:00

We all know that accidents happen, but what you may not know is what to do after they happen.

Should you ever find yourself in the unfortunate situation of being in a car accident, our friends at ICBC has compiled a great five (5) step list on what you need to do:

Step One:
If anyone is injured, call 911.

Move the vehicles off the road if it’s safe to do so.

Avoid discussing who’s at fault for the crash

Step Two:
Get details.* Record the following for all the vehicles and drivers involved in the crash:

Driver’s name, driver’s license no., province/state, and contact info
License plate and year, make and model of vehicle
Driver’s name and contact details
Insurance details if the vehicle isn’t from BC

You may also need to provide this information to the police.

Step Three:
See if there were any witnesses. Record their names and contact info.

Step Four:
Describe the crash scene (if possible take photos or use the diagram below):

What was the time, date and weather condition?
What was the location?
What direction were you both travelling?
Where was your vehicle, and what lane were you using?
Where was the other vehicle?

Step Five:
ICBC Dial-A-Claim staff are available to help 24/7:

In the Lower Mainland: 604.520.8222

Anywhere in Canada or the US: 1.800.910.4222

Translation services are available.

Written by Derek F.
Insurance Services Manager, New Westminster London Drugs

Travel Insurance

2011-11-25T11:32:00.000-08:00

I’ll admit it – I used to think people who bought travel insurance were suckers (when I thought about insurance at all).

It just didn’t make sense to me – If I hit Seattle for a weekend and ate some bad seafood or broke my leg, I figured my provincial medical coverage would kick in and cover my medical bills. Besides, if I did have to visit a hospital how expensive could it be?

Turns out – it could be quite a bit… B.C. pays just $75 a day for out-of-province emergency in-patient hospital care. Sounds ok, until you learn that the average cost for this in the U.S often exceeds $1000 a day and can be as high as $10,000 a day in intensive care (or so the BC gov’t website says).*

Besides hospital room costs, you might get hit with charges for out-of-province ambulance trips, (one U.S. ambulance claim was recently made for $2,200) x-rays, medications, and emergency dental issues, plus the cost of having to make changes to travel arrangements due to an emergency.

You’ve probably heard that some credit cards will offer limited coverage in this area. I just did a few minutes of ‘Official Google Researching’ for you and found this article about whether credit card travel insurance is enough: http://canada.creditcards.com/credit-card-news/credit-card-travel-insurance-not-enough-1278.php Good to know, right?

So who needs travel insurance? You do, if you’re travelling out of your home province – either for day-trips over the border, or for 1 week all-inclusive stays in sunny locales, or extended trips visiting friends and family.

If you make a couple of trips a year, look into an annual policy that allows an unlimited amount of trips within the year. You pay for it once, save yourself repeated trips to your Insurance Agent and save some dough in the process! Makes sense right? Right.

The coverage available from the Insurance Services Department of London Drugs is among the best available in the country.

Getting a quote and understanding your coverages and options takes just a few minutes. Start by visiting www.ldinsurance.ca, going to one of our 17 Insurance departments, or by calling 1-800-681-6677.

And relax, getting a quote does not obligate you to buy… Educate yourself, and be prepared!

Home Insurance

2011-10-15T09:00:00.000-07:00

Buying home insurance can often be a complicated and intimidating process, especially in today’s marketplace. There are so many choices on how and where we can go to buy our insurance policies; it is often a frustrating process trying to figure out who you can trust for the best coverage at a fair price.

For many insurance providers, the name of the game is all about providing customers with the lowest price to entice. In today’s economy it is understandable how this technique would appeal to many shoppers, but what is important to remember as an informed consumer is that price is one thing, but value and coverage can be quite another.

Should you ever find yourself in a situation where you need to make a claim, you want to ensure you have an experienced and knowledgeable broker on your side. One who will advocate for you and make sure your claim is handled as quickly and efficiently as possible. We’ve all heard stories from friends and family member who have had a negative insurance claim experience, often times they encounter unexpected bills and are left with a feeling of disappointment and anger. To avoid this yourself, be sure to choose an Insurance provider who has a trusted name and a proven reputation for providing quality service. At the end of the day it’s simply not about the lowest price when purchasing a home insurance policy. Each individual is unique, so be sure to speak to a knowledgeable Insurance expert who can evaluate your needs and match you with a policy that fits your life.

For more information on finding a home insurance policy that fits your unique needs or to find a trusted, professional broker in your area, visit us at www.ldinsurance.ca

Beware the insurance scammers

2010-05-13T10:17:00.000-07:00

There are reports of an insurance scam going on in Ontario right now. Will it happen in BC? The following recent article is from CIP Society, Advantage Daily: The News in Brief:

"The Registered Insurance Brokers of Ontario (RIBO) warns that several Ontario city newspapers have run ads for auto insurance with a 1–800 contact number. Perpetrators of the scheme have placed the ads in a city’s newspapers for a week and then moved onto another city with a different 1–800 number and a new business name. So far, RIBO notes, the names have included Arthur and Son, Interprovincial, Smith and Son, and Addison. Victims who phone the 1–800 number are directed to send an insurance premium by Western Union. The victims do not receive any policy, and when they call the 1–800 number, it is out of service. No valid insurance coverage has been placed, RIBO warns. “People should exercise caution when purchasing insurance and make sure they are dealing with a legitimate insurance broker or agent,” a RIBO spokesperson advised.

RIBO asks anyone who might have been caught in the scam to contact them.

Many thanks to RIBO and CIP Society for warning the public. Consider yourselves warned.

Be careful with your social media updates

2010-04-13T10:37:00.000-07:00

It is incredible how fast the social media craze is growing! You no doubt subscribe to at least one such as Facebook or Twitter. Such sites are no longer considered just a vehicle to express one's feelings or opinions on menial topics. These sites are being used extensively by well-respected and recognized commercial organizations - such as London Drugs. People and businesses alike can keep their friends and customers abreast on whats happening on a minute-to-minute basis.

However, a word of warning to those people who are addicted to updating their social media site on a regular basis. Stories similar to the following have recently been reported in the media:

Many people like to post updates such as, "Off to Cuba for a relaxing two week vacation". Those types of updates are an invitation to any unscrupulous persons who view them to make their way over to temporarily unoccupied homes to help themselves to the holiday-maker's household goods.

Be responsible with your social media updates, perhaps waiting until you get home from your vacation to post your photos.

Identity Theft - A Growing Problem

2010-01-15T10:41:00.000-08:00

Identity theft is one of the fastest growing crimes in Canada. The Canadian Anti-Fraud Centre received over 11,000 reports of identity fraud in 2009 totaling more than $10Million in losses. The CAFC believes that many more instances of identity theft and fraud go unreported. Victims of identity theft or fraud can experience financial loss and difficulty obtaining credit or restoring their 'good name'.

Does your home insurance policy cover you for expenses relating to Identity Theft?

London Drugs has home, tenants and condo policies which extend to cover costs associated with any fraudulent use of a policyholder's identity (Subject to policy terms and conditions).

Drop into any one of our insurance departments to speak with an insurance specialist regarding coverage details and limitations. Visit http://www.ldinsurance.ca/ to view our locations and hours.

Renting to guests during the olympics?

2009-12-24T09:20:00.000-08:00

Where has the time gone? We are almost ready to say goodbye to 2009 and hello to 2010!

Can you believe the winter olympics is less than 2 months away? The City of Vancouver is excited to host the world and has many events planned to celebrate this monumental milestone in its history. You can bet its not only corporate organizations, hotels and restaurants who will be looking to cash in on the olympics. Many local residents will also be looking to make some cash by renting out their homes to visitors in town to watch their favorite events.

Are you considering renting out your home or renting out a room in your home to visitors during the olympics? If you are, make sure you speak with your insurance broker to find out if your home insurance company has any exclusions or limitations regarding renting out all, or part of your home to guests. You may find some insurance companies completely exclude renting to guests or may simply apply some special limitations or rules respecting any claims resulting from the renting guests. A simple phone call to your broker will save you a big headache.

Contact The Insurance Services Department of London Drugs at 1-800-681-6677 today for a competitive quotation on your home, condo or tenants insurance policy.

Snowbirds Prepare for Flight

2009-10-05T16:04:00.000-07:00

The cold and wet weather has set in which means that summer is well and truly over. For many Canadian seniors, this means its time to start thinking about packing up and following the migrating birds south to warmer destinations for the winter. The majority of these snowbirds choose destinations in the USA with some even going as far as Mexico. It is highly recommended that these snowbirds purchase travel insurance during the time that they are going to be away from their home country as emergency medical treatment can be very costly if required. Especially in light of the fact that BC Medical will only cover a portion of the cost for receiving medical treatment outside of British Columbia.

For example, an elderly man had a heart attack in a U.S. airport while running to a connecting flight. During recovery from an emergency bypass, he suffered a stroke and remained in hospital under close observation before the doctors declared him stable enough to be airlifted home. Travel Underwriters covered his hospital and medical costs and his air evacuation to Canada. Total Cost = $305,000. Portion Paid by Provincial Government = $5,700. (2% of claim total)

Call or visit a London Drugs Insurance department to inquire about or purchase travel medical insurance before your next trip.

Vancouver Police Department’s Bait Car program celebrates seventh anniversary

2009-09-30T16:04:00.000-07:00

The successful Bait Car program celebrates its seventh anniversary this month. This program has been a great help in reducing auto thefts by 71%, or by 1,780 fewer vehicles stolen, when comparing the first six months of 2009 to 2003.

This program was initially a pilot program in Vancouver, but its success lead to an expansion throughout the Lower Mainland in 2004. By 2005, it was expanded further to Vancouver Island, the Interior and North. When comparing the first six months of 2003 to 2009, auto theft decreased by 52 per cent province-wide from 12,090 cars stolen to 5,780.

Hopefully Car Bait program will continue to stall auto thefts, thus reducing claims and premiums for all BC motorists.

Trip Cancellation/Trip Interruption Insurance

2009-07-12T16:03:00.000-07:00

There are many setbacks that can cause one to postpone or cancel their travel plans. Emergencies can come up last minute, only days or hours before someone is to leave on their dream vacation. The costs associated with delaying or cancelling these plans can escalate quickly.

That's why Trip Cancellation/Trip Interruption protection is so essential. This insurance reimburses your travel costs if your travel plans are cancelled prior to departure, or if they are disrupted after the trip has begun. After all, sometimes life takes over and travel plans go out the window.

Nobody can predict the future. Unexpected family or medical reasons can force clients to call off, change, or even interrupt well–planned trips. Plus, there are other factors that can impact travel plans. In today's unpredictable economy, you may suddenly find yourself out of work. After losing a job, you might not be able to afford the vacation anymore. Fortunately, job loss is a covered risk under Trip Cancellation/Trip Interruption insurance. It is a good idea to always add this important product.

Collisions Can Cost Drivers, Even When Cyclists At Fault

2009-06-18T16:02:00.000-07:00

An interesting article today in the Times Colonist (Victoria), Page A3, 18-June-2009:

Drivers beware: Colliding with young cyclists could end up costing you, even if you're not at fault. On Tuesday in unrelated incidents, two young cyclists were hit by vehicles in Saanich. In the first, a 14-year-old was hit by a car on Highway 17 near Elk Lake as he attempted to cross two lanes of traffic. In the second, a 10-year-old boy slammed into the side of a moving truck on Canterbury Road while trying to cross the road. Both cyclists were taken to hospital. The 10-year-old had emergency surgery and is in critical care, while the 14-year-old is recovering from minor injuries. In both cases, Saanich police said the cyclist seemed to be at fault, and the 14-year-old was given a $109 ticket for careless cycling - what a driver who committed the same violation would be fined. (Given his age, the 10-year-old likely won't get a ticket.)

Cyclists on roads and highways have the same rights and duties as drivers of vehicles and are governed under the Motor Vehicle Act, said Saanich police spokesman Sgt. John Price. Yet because cyclists are uninsured by ICBC and because both cyclists are minors, it's likely the accident will end up costing the drivers. ICBC spokesman Adam Grossman said drivers who are hit by cyclists and only have basic insurance - and not collision coverage - end up paying for damages to their vehicles out of their own pocket. Even drivers who are fully covered could see the claim affecting their insurance premiums, possibly increasing the amount they pay for auto insurance, Grossman said. Drivers hit by cyclists can sue for damages, but not when the cyclists are minors.

"You simply cannot sue someone who's a minor," said Barri Marlatt, a personal injury lawyer at Hutchison Oss-Cech Marlatt, who is not involved with these cases. The Parental Responsibility Act, which allows people who have experienced damage to property caused by a child to sue the parents of that child, cannot be used in these cases either, because the collisions were not intentional, Marlatt said.

Playful Pets

2009-05-22T15:56:00.000-07:00

A Canadian insurer recently conducted research on some of the silliest pet mishaps they could find. Some examples of these mishaps include:

a dog that was taken to the veterinarian after swallowing a credit card – the bill came to hundreds of dollars but the vet failed to see the humor when the owner suggested he scan her dog to cover the payment!

a cat that was acting strange was taken to the vet and it wasn’t until a $500 bill and a trip to the litter box later that the owner discovered the feisty feline had swallowed a shoe lace

in a game of chase between an airplane in the sky and a dog, the airplane won and the dog careened head-first into its backyard fence

a clownish canine lost two teeth in a battle of tug of war with its owner’s bathrobe.

The research also showed that of the dog and cat owners surveyed, 98% don’t have pet insurance, despite the fact that a quarter of those say their pet has suffered an injury that resulted in a visit to the vet. The research also showed that 55% of pet owners surveyed said they would be likely to get pet insurance if it could easily be added on to their existing property insurance policy.

Visit or call a London Drugs Insurance department near you to discuss some options available to help off-set the high cost of veterinarian fees.

Travelers Keep Heading South Despite the Recession

2009-04-02T15:23:00.000-07:00

The economy may be the hottest topic in the news these days, but for the time being, the recession does not seem to have put a damper on the travel industry. According to many travel agencies, winter travelers seeking fun in the sun continue to book travel arrangements. The top destinations once again this year are Mexico's Mayan Riviera, Cuba and the

Dominican Republic

. Some experts feel that the effect of the recession may only be felt later this fall, during the height of the European travel season, but for the moment, the market is doing well. Many sales and package deals are available for price-savvy travelers to take advantage of.

Anyone thinking of travelling should also keep travel insurance in mind - provincial healthcare plans cover only a small portion of medical expenses incurred outside the province of residence, so travelers are strongly advised to purchase private travel insurance to guard against unexpected medical costs. Whether travelers are looking for a daily plan or an annual plan, for singles or for families, London Drugs Insurance can offer you the proper travel insurance coverage at competitive rates.