Creston Valley Insurance RV Insurance

RV and Motorhome Insurance Coverage – Leave Home Prepared!

Enjoy peace of mind as you head out on the road in your RV this fall. Inadequate insurance leaves too much to chance!

As you make your plans to head south in your motorhome, fifth wheel, tent trailer or travel trailer, it’s important that you’ve crossed all of your Ts and dotted all of your Is – adding the purchase of insurance to the top of your todo list! You’ve invested significantly in these assets and they should have the appropriate coverage to ensure they’re protected in the event of anything unexpected.

Insurance for Your Motorhome

Purchasing insurance for your motorhome isn’t much different than the insurance you’d purchase for a car, truck, or van. It becomes distinct when you take into consideration “standard equipment” and “contents”, items not typically covered by the insurance policy for your car.

This “standard equipment” includes the components attached to the motorhome, such as the appliances. The “contents” covered included items such as dishes, cooking utensils, linens, etc.

Questions? Contact us for a complete list of items considered “standard” and “contents”.

Travel Trailers, Fifth Wheels

Travel trailers and fifth wheels can actually be insured through the Insurance Corporation of British Columbia (ICBC) or other insurance companies. For example, when you purchase a “Vehicle Travel Protection” package from ICBC for your auto, the camper or trailer that you are towing will be protected.

There can be limits to the protection included under this type of policy. Ask us! 

Whether your unit is brand new or a vintage model we can customize a package for you.  Guaranteed replacement cost is available through most of our insurers for units 10 years or newer. An insured total loss in the first 10 years could be settled with a new current model year unit.

It’s not unusual for your home insurance to cover some of the contents of your trailer or fifth wheel—up to certain limits. Additional coverage may be required if those limits aren’t sufficient to cover the true value of the contents of your trailer including awnings and outbuildings.

Questions? Need a quote? Contact us!

Additional Coverage for Motorhomes and Travel Trailers

Consider other coverage options to ensure your valuable assets are fully covered:

Comprehensive Coverage: For protection from just about any direct, sudden, and accidental loss, including collision, fire, smoke, flood, landslide, hail, windstorm, animals, vandalism, low branches or overhangs, theft, and lightning.

Unit in Storage: Trailers, fifth wheels, tent trailers, and campers require special insurance while in storage. If they are used as living accommodation, they require still another type of coverage.

Attached Accessories: Includes awnings, satellite dishes, and TV antennas.

Emergency Expenses: Pays for lodging or travel home if your rig is damaged or destroyed by a covered loss more than 50 miles from home.

Campsite/Vacation Liability: Provides liability coverage when you are parked and using your motorhome as a residence.

Replacement Cost Policy: This type of policy provides broad coverage, with the standard insurance exclusions, and a replacement cost settlement that is based on the current depreciated value of the motorhome or travel trailers.

Guaranteed Replacement Cost Policy: This policy also provides broad coverage with the standard exclusions, but the replacement costs are calculated based on the value of providing a new, but comparable, motorhome or travel trailer.

Full Timers Coverage: Provides comprehensive personal liability, stored personal contents, and additional living expense coverage if you are living full-time in your motorhome or travel trailer.

Take advantage of our emergency vacation expense, as most losses occur while away from home. Talk to us!

Creston Valley Insurance- home-based business insurance

When You Need to Insure Your Home-based Business

Do you have a home-based business? There are a few things you need to know about your insurance.

More and more, British Columbians are starting and operating businesses from their homes. This is terrific! However, what they may not know is how this may affect their home insurance.

It’s important to understand what is covered under your homeowner’s policy ensuring that you’re properly covered for your business activity. In fact, it may not be adequate, particularly if employees and clients are regularly coming into your home for business purposes.

Even if you have a part-time home business, you should consider home-based business insurance to make sure you and your business property are covered.

Should I insure my home-based business?

Whether or not you should insure your home-based business depends on what your business activities are. If you have a lot of high-value equipment and no clients or employees coming to your house, it may be less expensive for you to simply add your equipment to your existing home coverage as an additional endorsement.

If you do work for the government or other high-profile agencies such as working as an author, event organizer, HR consultant, marketing consultant, translator or for a non-profit organization, you may want to consider Errors & Omissions coverage, which can be required for some contracts.

Business-coverage is particularly necessary if you have visitors to your home for business purposes. It’s also important if you have to cover business inventory.

If you don’t have the added risks of frequent business-related visitors and inventory, the business coverage probably isn’t necessary. Your Broker will be able to advise you on the best course of action.

How do I insure my home-based business?

Home-based business-coverage is available as an extension of your home insurance. However, if your business is larger than the typical one to two-person home-based business operation, you may need to consider standard business insurance.

Your Broker will be able to advise you as to what you need for your particular situation.

Benefits of a home-based business insurance plan

An insurance plan for your business will cover your office equipment, business inventory on and off-premises, and business interruption insurance if anything were to happen to your home because of an insured loss.

Most importantly, it will cover you for additional liability for clients, delivery personnel and employees.

Do you have questions about home-based insurance coverage? We can help – CONTACT US to learn all you need to know about keeping you and your business protected in the event of a loss.


Creston Valley Insurance Loss Prevention and Your Business

Loss Prevention and Your Business: What You Should Do to Limit Risk

Considering worst-case scenarios and an effective loss prevention plan is a necessary evil – saving your business a lot of money in the event of a crisis.

No business person wants to think about costly events that could damage their business, but creating a loss prevention program is an important investment in your business.

Understanding how to prevent loss before the catastrophic is essential and that means understanding the two types of losses your business may incur: insured and uninsured.

Insured losses are covered by your insurance policy. A business that has property insurance will be covered from an unexpected fire, and with business interruption coverage, the store will even be compensated for the income lost while the business is closed for repairs.

Uninsured losses are not covered by your policy. These costs can include replacing equipment that’s been used improperly or replacing sick or injured employees with new hires.

Developing a proper loss prevention plan can help your business profit in the long run.

When it comes to implementing a proper loss control strategy, you can get out ahead of any expensive uninsured losses through proper and thorough employee training and best practices, minimizing any potential downtime of your machinery to keep your business operating smoothly.

Claims that involve libel, slander, and violation of the right of privacy are known as reputational harm and are the most expensive claims that small businesses can incur. As a small business owner, you can take steps to avoid these claims, including requesting background checks, having someone review your advertising copy, and having an emergency preparedness plan ready.

There are several reasons why you should incorporate a solid loss prevention program for your business:

  • It provides guidance for employees. Employees who are aware of hazards and are properly trained on how to deal with them tend to be more efficient workers.
  • It provides opportunities to identify hazards through regular inspections, quality control programs, and procedures to correct deficiencies, which can help to avoid and reduce losses.
  • It provides direction for emergency procedures. Employees who are properly trained on emergency response are prepared to act quickly and correctly during an emergency. This can help mitigate losses and increase profits.

A culture of safety – regular practice helps prepare your business not just in the case of an emergency, but every day.

An effective business owner should conduct mandatory training sessions and practices. Develop drills, performance reviews, and best practices to help ensure your workforce is less vulnerable to expensive and possibly dangerous mishaps.

Here are some of the ways you can develop an effective loss prevention program for your business:

  • Develop employee safety manuals, policies and guidelines to build a culture of safety
  • Teach staff how to use new equipment to improve efficiency and safety
  • Install monitored burglar alarms and sprinkler systems to protect your assets
  • Make safety training mandatory to actively promote this culture of safety

Empower your employees

If you really want your loss prevention practices to be successful and effective, your employees need to play an active role.

The people who work for you should be required to participate in reducing, controlling, or eliminating workplace hazards, accidents, and injuries. There are a number of ways in which your employees can actively assist in loss prevention:

  • Think “safety” before initiating any work.
  • Follow all loss prevention procedures, regulations, and rules you’ve outlined.
  • Follow inspection guidelines for all equipment, machines, and tools.
  • Utilize proper personal protective equipment where required.
  • Operate all equipment with safety guards in place.
  • Operate only the equipment and machines you’re trained and authorized to operate.
  • Immediately report all unsafe acts, conditions, and accidents to management.
  • Participate actively in loss prevention training.
  • Recommend a specific methodology to control workplace hazards.

An effective loss prevention policy is simply good for business.

Encouraging all employees to participate in the development, maintenance, and enforcement of a loss prevention program will be invaluable in enhancing the safety and efficiency of your business while helping to increase your profits and the overall success of your business.

Do you want to protect your business through a loss prevention program? If you’re looking for comprehensive insurance coverage for your small business, contact us!

Creston Valley Insurance loss prevention

Loss Prevention at Home: What You Can Do!

Insurance and loss prevention work together to help keep you, your family, and your home as safe as possible.

Buying home insurance protects your home and your most valuable assets. By understanding what common risks there are, and taking action to mitigate those risks, you can prevent potential losses.

Unfortunately, the worst-case scenario sometimes occurs, whether it’s a flooded basement, kitchen fire or natural disaster. Home insurance provides the peace of mind, knowing you’re protected in the event of any losses and many potentially costly risks. And there is a lot you can do to prevent damage to your home.

As a homeowner, it’s important to understand what risks you may face. Some risks are obvious, while others only reveal themselves to someone who knows where to look and what questions to ask.

When it comes to loss prevention, know how to reduce your risk:

  1. Know what might go wrong. Is your home surrounded by wild junipers that could provide fuel to the loose spark from your firepit? Learn what you can do, outdoors, around your home to make it fire safe. An uneven step could cause someone to fall on your property. Learn about your slip, trip and fall risks and the value of preventive maintenance.
  2. Plan ahead to reduce your liability risks. Create an emergency kit and plan emergency exit routes with your family members. Limit how much alcohol guests are served when you host a BBQ, dinner or house party. Prevent sewer overflow in your basement by installing a backwater valve. Ensure that all smoke and carbon monoxide detectors are working properly.
  3. Know how to handle an emergency or loss situation. Learn what you need to know when making a property claim. And keep calm.
  4. Keep an up-to-date record of your household contents. A current home inventory of your belongings will make it easier to file a claim.
  5. Consider if you have adequate coverage. If you are concerned about natural disasters, you may be able to add coverage to your policy, such as earthquake coverage. Your insurance representative can explain the available options.
  6. Be sure that your home is equipped with approved loss prevention devices:
    fire alarm systems
    fire suppression systems
    security systems
    sump pumps and backwater valves
    automatic water shut-off devices
    reflective tape for heavy/farm equipment
    lightning suppression systems
    back-up power systems
    keep the chimney clean and free of brush and debris
    hail-resistant roofing materials

To learn more about loss prevention, contact us; we have the knowledge and expertise to advise you on all aspects of Loss Prevention.

CVINS understand insurance

Understanding Insurance – Why It’s Important!

Understanding insurance is important so that, in difficult times, you know you’re covered so you can get back to your normal routine and enjoy peace of mind.

A car collision can happen at any moment. A massive wind storm could bring a tree down on to your home. Your business might be damaged by vandals. Everyday life can change in significant ways after a loss. While it’s impossible to anticipate what might happen, you can be prepared to a large degree. Typically, recovering from a loss situation costs more than most people can manage on their own. That’s where insurance comes in.

Proper insurance protects you from having to pay out a huge amount in the event of the unexpected: that car collision, fallen tree, or wretched vandals.

Understanding the basic elements of insurance can help you make informed decisions to ensure you’re as prepared and protected as possible given the unknown occurrences that can so easily impact our lives.

Without insurance, driving a car, buying a home, or taking that trip abroad would be an unaffordable risk.

What is insurance and How Can It Help?

When someone purchases insurance, that money is put into a premium pool with the many others who’ve purchased. That is the money that’s drawn upon to help those who’ve suffered an unexpected hardship due to loss from a home fire, vehicle collision, or business interruption that year.

The payouts for these losses are referred to as ‘claims’. Insurers are required by law to have sufficient funds to pay out claims.

Why Should I Have Insurance?

Without insurance, driving a vehicle, buying a home, starting a business, or traveling abroad would present an unaffordable risk as losses or mishaps would have to be paid out of pocket in these and other instances

Why do I Pay for Insurance Annually?

With a few exceptions, an insurance policy is an annual contract. The premium pool operates for only a year at a time. Insurance companies predict how much money they will need to pay the coming year’s claims.

Your premiums do not carry over or build up over time.

Calculating insurance premiums is complicated and involves a process that requires a risk assessment based on actuarial science.

Premiums are based on informed predictions about how much money may be needed to pay future claims. Insurers gather the information that they understand from experience will help them set fair yet accurate premium prices.

What Will Be Covered By My Insurance Policy?

Insurance pays for only the insured losses described in your insurance contract. Read and understand your policy – talk to your insurance representative with any questions!

Talk to her about what you are covered for and, equally importantly, what you are not.

Insurance will not pay for every problem you may encounter, nor is it meant to. For instance, your home insurance will not cover regular home maintenance.

Insurance is generally intended – and priced – to help you cope with the financial impact and consequences of unpredictable events that are sudden and accidental.

If, for example, you live on a floodplain near a river, the seasonal flooding of your property in the spring is neither sudden or accidental; it is an inevitability and, consequently, unable to be insured.

It’s important that you speak to your insurance representative about any potential inevitabilities as well as any other questions or details regarding your insurance policy to thoroughly understand your coverage.

4 Steps in the Insurance Process

  1. Your insurance company estimates an annual cost, or premium, to accept the risk of covering your home, vehicle, travels, or business.
  2. On an annual, or monthly, basis you pay a premium to your insurance provider for assuming the risk on your behalf.
  3. Your insurance company puts all premiums into one large pool, contractually operating only one year at a time.
  4. Your insurance company uses the pool to pay for the losses of the few who make claims that year.

Life and all of its various facets bring risk. Thankfully, insurance can give you the peace of mind you need to take it on!

Have questions about an existing or new policy? We want to help! Contact us today to talk about your insurance needs.