Tips to Protect Your Home From Burglars

By Ari Rush General Info Life Insurance Oracle Info No comment

For most homeowners, there are few scenarios more terrifying than a home invasion. Besides the risk of valuables, cash, and property being damaged or stolen, there’s something fundamentally upsetting about having your house broken into. The good news is that there are several steps you can take to keep your home safe from burglars. Here’s a list of 5 incredibly useful home protection tips.

Tip #1: Make Sure Your Entry Points Are Secure

If you give thieves a choice between breaking down a door and opening an unlocked one, they’ll take the path of least resistance every time. The same logic also applies to your windows. Make sure that your window and door frames are in good shape and consider adding extra security features to your locks. When it comes to discouraging thieves, every bit helps. 

Tip #2: Don’t Let Your Mail Accumulate 

Many burglars choose their targets based on whether the homeowners appear to be home. A pile of unopened mail on your front step can lead someone with bad intentions to believe that your house is easy pickings. If you can receive your mail at work or ask a neighbor to pick up any packages that get delivered to your doorstep, that can be enough to give burglars pause.

Tip #4: Take Regular Walks Around Your Property

One of the best ways to protect your home from burglars is to make a point of looking for potential weaknesses with your current security setup. Is your garage a little too accessible? Are there shrubs and bushes obscuring your view of the walkway? Do you have expensive valuables that are visible from the street? You may find some vulnerabilities that you never realized were there.

Tip #5: Keep Your Home Insurance Up to Date

Even when you do your best to take precautions, sometimes the unthinkable happens anyway. In order to receive compensation for damages to your home and your belongings, it’s important to have solid home insurance coverage in place. 

Are you looking to renew your home insurance or take out a new policy? Here at Oracle RMS, we offer FREE home insurance quotes. If you have questions, don’t hesitate to contact us. We’re here to help!

Barber

Insurance for Barbers

By Ari Rush General Info Life Insurance Oracle Info No comment

Whether you have your own shop, you rent a chair, or you work from home, as a barber you’re both an artist and a highly-skilled professional who helps customers literally look their best.

That’s why when people find good barbers, they tend to come back over and over again.  

But any time you’re dealing with customers, it’s important to be prepared in the event that something goes wrong. On that note, here’s what you need to know about getting insurance as a  barber.

Here’s Why You Need Top-Notch Barbers Insurance

1. Customers Can Hurt Themselves

Nobody plans to be the subject of a massive personal injury lawsuit. But sometimes clients can slip or ice can be tracked in during the colder months. Most small business owners can’t afford to pay litigation costs out of pocket. Insurance can cover defense costs as well as judgment amounts.

2. Your Professional Equipment Could Be Damaged

In your line of work, you can’t really make money unless you’re seeing clients and giving haircuts. With the help of a professional broker, you can put together affordable policies that are designed to compensate you for the damage done to your equipment and, potentially, to your income in the aftermath of a fire or a pipe burst.

3. Because You’re Dealing With Materials That Can Cause Harm

As a barber, you routinely use razors and clippers. However, all it takes is one bump or sudden movement on the part of the customer for something catastrophic to happen. Insurance can help you protect your business in a worst-case scenario.

What Types of Insurance Policies Should Barbers Be Looking For?

  • Professional Liability Insurance: Also known as errors and omissions insurance, this insurance option is designed for situations where someone has suffered economic loss. Professional liability insurance can cover you if a customer has a bad haircut and decides to sue.
  • Commercial General Liability Insurance: Broadly speaking, commercial general liability insurance is designed to cover scenarios where a third party, like a customer, suffers from personal injury and/or property damage. Although this is perhaps most well-known as slip and fall insurance, it applies to a number of things that include accidents and false advertising claims among other things.
  • Contents Insurance: If a fire were to break out, many insurance policies would cover the building but not necessarily the equipment you rely on or the chair you rent. Contents insurance makes it possible for barbers to recoup their losses in the aftermath of an insured peril. 

Here’s Why You Should Get Barber Insurance With Oracle RMS

We’re a professional insurance broker that has been helping barbers with their insurance needs for several years. Contact us for your FREE quote today.

Travel Health Insurance

Insurance Coverages for March Break Travelers

By Blog Editor Health Insurance Home Insurance Life Insurance Travel Insurance One comment

Since March Break is right around the corner, families are in the midst of preparing everything that goes along with traveling off to a new destination for the week, such as running some last minute errands needed for their trip, getting the whole family packed and getting to the airport as early as possible, since the Friday before March Break is usually the busiest travel day for all.

However, before even arriving at the airport, it’s important to have insurance to ensure that all individuals are protected and insured. Enjoy your March Break vacation with peace of mind knowing that you’re safe and secured with the following insurance coverages below:

  1. Travel Insurance

Travel insurance should always be purchased after you’ve booked and paid for your March Break vacation. In doing so, travel insurance will provide coverage for unforeseen travel situations such as medical emergencies, trip cancellation and interruption, baggage loss, damages, delays and flight and travel accidents. However, travel insurance coverage depends on the type of coverage you may want since there are different types of packages available.

  1. Health Insurance

By having health insurance coverage, it will protect you from healthcare costs that are not covered by government plans, should there be an unexpected illness that occurred while on your vacation. It should be noted that there are four types of health insurance products to provide protection that you may need such as personal health insurance, critical illness insurance, long-term care insurance and disability insurance.

  1. Life Insurance

Not many families will think of life insurance when going on vacation, but if an unexpected scenario occurs on your trip that’s a matter of life or death, then it’s definitely a type of coverage that should be considered. With life insurance, it will protect the financial security of the people you love by giving them a tax-free payment after you’ve passed away. Life insurance also depends on the type of coverage and amount that you want, since it is up to what the insured’s needs and budget are.

  1. Home Insurance

Although you’re away on your March break vacation, you should never leave your house without having home insurance. Oftentimes, there are unfortunate circumstances that leave homeowners with their house broken-into while on vacation. Due to this serious matter, home insurance will provide coverage for your contents, valuables and personal belongings that reside in your home. In addition, if your suitcase has been stolen while you’re traveling, home insurance will provide protection, but you must have an enhanced or comprehensive policy in order to be covered.

Don’t forget that it’s critical to know what your insurance covers before your vacation, especially with the current Coronavirus outbreak. For Canadian travelers considering cancelling their trip due to this pandemic should know that travel insurance does not provide coverage for your trip. Insurance carriers such as Manulife and TuGo recently announced that they will not be providing any refunds to consumers with regular travel insurance due to the coronavirus fears even if a travel advisory was issued after they’ve booked their trip. Even the National Post stated, “it’s important to keep in mind that fear alone of a rapidly spreading disease is not covered under most travel insurance.”

With that being said, before you go away for your March Break vacation, know that having these types of insurance coverages should be a top priority to have in order for your family to stay protected and secured. Contact Oracle RMS today to speak with a licensed broker who will gladly answer any of your questions and concerns regarding your insurance or to simply update your current coverage.

Nothing Says “I Love You” More Than Life Insurance

By Blog Editor Life Insurance No comment

Don’t have any gift ideas for Valentine’s Day this year? Luckily for you, there’s another gift option to give your loved one(s) other than your typical chocolate or flowers. That option is: life insurance.

As crazy as it may seem, buying life insurance actually shows your selfless love for your significant other. By having life insurance, you are showing selfless love by protecting yourself after you die. You are also protecting the financial security of the people you love by providing them with a tax-free payment after you die. That tax-free payment will depend on the amount and type of life insurance coverage you’ve chosen, as every policy depends on your circumstances and particular needs.

For example, a family of five has been involved in a terrible car accident which resulted in the unexpected death of the mother, who was seated in the front seat of the passenger side. Due to this tragic and unforeseen circumstance, payments must be paid for funeral costs, legal action, hospital bills, etc. Fortunately, the mother of this family bought life insurance years ago after the birth of her first child because she knew that her purpose in life was no longer about her. It was now about her growing family. With a mother’s love and instinct, she knew her family would depend on her overtime. Because of this, she lived her life equipped with full life insurance coverage, which she knew would help provide for her family.

With that being said, more Canadians have life insurance coverage than ever before. According to a recent LIMRA study, it was revealed that there are now 12.6 million Canadian households with life insurance coverage. This is an increase of 3.4 million over the past six years, which marks the highest level of ownership up to date in Canada. In fact, there is an 81 percent increase in the number of Canadian households with life insurance coverage that grew from seven million to 12.6 million over the past 37 years.

When you purchase life insurance, the cost of your policy that you buy will depend on your age, gender, health, medical history and overall lifestyle. There are four types of life insurance:

  • Participating Life Insurance: This type of life insurance allows you to be eligible in receiving dividends. The amount of coverage you choose and your premiums are guaranteed for life. It also allows you to use the dividends to buy more coverage, reduce your annual premium cost, earn interest inside your plan or take them out in cash. However, these dividends are not guaranteed.
  • Permanent Life Insurance: This type of life insurance provides coverage for your whole life, which is why permanent life insurance is often called “Whole life” insurance. There are also different variations of permanent life insurance, such as building cash value over time. On the contrary, you can purchase a plan that lets you pay for a limited time, which then results in you not having to pay any more.
  • Term Life Insurance: This type of life insurance provides a fixed amount of insurance for a specific period of time. It provides temporary protection that can be customized to meet your changing needs.
  • Universal Insurance: This type of life insurance is much more flexible because it combines your protection and your savings.

All in all, there’s no better way to show your love than on Valentine’s Day when you purchase a more permanent gift with life insurance! Besides, a card with flowers or chocolate is merely temporary. After all, nothing says “I love you” better than life insurance.

Contact Oracle RMS today to speak with our licensed Life Insurance broker, Amy Liquornik, who will gladly answer any of your questions or concerns.

Get The Best Travel Insurance These Holidays

By Blog Editor Auto Insurance Home Insurance Life Insurance Tenant Insurance Travel Insurance No comment

Whether you’re going on a holiday in the sun or hitting the slopes for a winter getaway, it’s important to make sure you’re protected and insured. You can enjoy your holiday with peace of mind knowing that you’re safe and secure with the following insurance coverages below:

  1. Travel Insurance

    Travel insurance should always be at the top of your list of coverage to have while on your holiday. By purchasing this, it will provide coverage for the widest range of unexpected travel situations. There are different types of travel insurance packages, which depend on what coverage you may want. Most packages will provide coverage for medical emergencies, trip cancellation and interruption, baggage loss, damage and delays and flight and travel accidents.

  2. Trip Cancellation and Interruption Insurance

    In relation to travel insurance, purchasing trip cancellation and interruption insurance policy is also an important type of coverage to have. This coverage is for non-refundable trip expenses if your trip has been cancelled or interrupted. Should something unexpected happen before your departure, having this type of coverage will reimburse your deposits and cancellation penalties that have been charged. Should something happen after your departure, it will cover extra costs to return home sooner or later than planned and for non-refundable portions of unused prepaid travel arrangements. Other expenses such as hotels, meals, transportation fares and more will be reimbursed if a covered situation (business trips) may occur.

  3. Home/Tenants/Condo Insurance

    Even when you’re not physically home, your home, tenants or condo insurance can keep you protected on your holiday. For example, if your suitcase has been stolen, your suitcase and the belongings inside are protected under your insurance when you’re travelling. However, you must have an enhanced or comprehensive policy in order to be covered. Make sure you check your policy ahead of time to see what’s covered.

  4. Car Rental Insurance

    Plan on renting a car while on holiday? All car rental businesses always offer different types of insurance coverage for their clients. Depending on what the renter chooses, the two main types of car rental insurance are Liability insurance or Collision and Loss Damage Waiver insurance. Choosing Liability insurance will cover the renter from paying any damages, a stolen car or injuries they may inflict on other people and their property, while driving the rental car. Choosing the Collision and Loss Damage Waiver insurance will only cover the car being driven. Should something happen to the car, such as fire, theft or an accident, the costs will be paid for by the renter.

  5. Health and Life Insurance

    Should there be an unfortunate circumstance that occurs while on your holiday, it is best to have health and life insurance. With health insurance, it will provide coverage that protects you from healthcare costs not covered by government plans. There are four types of health insurance products to provide you with the protection you may need such as personal health insurance, critical illness insurance, long term care insurance and disability insurance. Meanwhile, life insurance will protect the financial security of the people you love by giving them a tax-free payment after you’ve passed away. With life insurance, you are able to choose from many types of coverages and amounts. This will vary by what you’ve decided in terms of what your needs and budget are.

If you do plan on going away for the holidays, know that having these insurance coverages should be the next step in your planning process once you’ve booked your trip. If you have any questions or want to update your current coverage, especially with the holiday season quickly approaching, contact an Oracle RMS licensed broker today!

Q-And-A: Your Life Insurance Questions Answered

By Keith Revie Life Insurance No comment

Content courtesy from the Huffington Post Canada website.

When it comes to establishing a financial plan suitable for you and your loved ones, having a discussion about life insurance needs to be a part of the conversation. It’s important to consider the value of having insurance to help protect the financial well-being of your loved ones in the event of your death.

In simple terms, life insurance can financially help support your surviving loved ones after your death. It can be a difficult conversation to have — but it’s ultimately one that helps protect the financial future of your loved ones. But have no fear, here are some of the commonly asked questions and answers about life insurance, presented in sponsorship with CIBC Insurance.

Q: What is life insurance exactly, and why might I need it?

A: The primary benefit of purchasing a life insurance policy is in a majority of cases to provide a tax-free lump-sum death benefit, which is paid out to your beneficiaries, or your estate, in the event of your death. This lump-sum may be used to help pay off outstanding debts and costs — including unpaid bills and funeral expenses — and to preserve your loved ones’ financial well-being by helping them to maintain their current standard of living in your absence.

Q: How do I know if I can afford life insurance?

A: Life insurance policies come in a range of coverage amounts and prices. Working with a trusted licensed insurance agent can help determine the policy that works for you, your loved ones, and your budget.

Q: How much life insurance coverage will I need?

A: Establishing the amount of coverage your beneficiary would receive involves a careful financial review of your income and living expenses. A licensed insurance advisor can help conduct an assessment of your financial assets and liabilities to determine the right amount of insurance coverage you need.

Q: How do I apply for life insurance? How long will it take?

A: Getting a life insurance policy can be easier — and faster — than you might think.

Figuring out which type of insurance is right for you and your loved ones can be challenging. While no amount of money can ever replace a loved one, the benefits of life insurance are clear — it’s all about helping to protect your loved ones from any debts and expenses that you may leave behind.

*You should always discuss your specific needs with a licensed insurance adviser.