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COVID-19 and Your Mackay Auto Insurance 

Mackay Insurance Belleville, Rate Changes During COVID-19

COVID-19 and Your Auto Insurance 

On March 11, the global pandemic was issued with respect to COVID-19 - and our world, as well as our normal employment practices changed dramatically.

On March 16, the office culture of Mackay Insurance changed dramatically when the majority of our staff began working from home, rather than from our Belleville office location. 

We understand that these times are confusing, as we’ve experienced the struggle of unknown ourselves as well, but we want to assure you that Mackay Insurance has you covered. We know the importance of having up-to-date knowledge in the insurance sector - including general news, changes in rates, updated policies etc. - and we are here to provide you with that knowledge so that you can feel safe - even amidst this unknown time.

Our Quinte drivers have frequently been asking us about their auto insurance policies and how their rates have, or will be, affected since the COVID-19 pandemic continues. In order to ease your worry and provide some helpful knowledge on the topic of Quinte auto insurance and COVID-19, our team of brokers at Mackay Insurance have compiled the most important factors for you to review!  

 

How Is Your Mackay Auto Insurance Affected During COVID-19

Vehicle Use 

Before the start of this pandemic, your vehicle was rated for particular usage: 

  • Pleasure (For our Sunday drivers out there!)

  • Commuting

  • Business

  • Delivery 

Many of our Mackay Insurance clients are now inquiring, however, whether their auto insurance rates will be affected with the stay-at-home order. The short answer is yes, depending on what you are using your vehicle for currently and what it was used for previously, your auto insurance rate might be affected. If you have more questions regarding your own Mackay Auto Insurance rate changes, please contact one of our insurance brokers and we will be happy to discuss these changes with you further!

Delivery

Currently, if you are a business owner in Quinte and have been forced to allow for minor amounts of delivery within your business (ie. delivering essential services and products), Mackay Insurance will amend your policy so that these factors are included. 

Once the pandemic is over, however, you will need to advise your insurance provider about the continued deliveries and your rate will be adjusted accordingly. 

If you have further questions regarding these policy and rate changes, or how they might affect your current vehicle deliveries, let us know and we will clear this up as soon as possible with you! 

Annual Kilometers

Many people show their annual kilometers at 20,000, 16,000 or 10,000.  This is definitely a rating factor that should be reviewed every year, as we have found that most people will actually lower the number of kilometers driven this year, due to COVID-19. At Mackay Insurance, we strongly recommend each renewal cycle to review, assess and adjust accordingly. 

It is important to note that this year may indeed cause your kilometers to be quite a bit lower in comparison to other, more ‘normal’ years. In this case, you would need to contact your insurance company directly in order to adjust for this decrease. 

Each year, however, is subject to change and differs from what the previous year’s average might have been. For this reason, it is crucial that you contact your insurance company on the basis of any change so that they are able to adjust your rates accordingly. 

Pay By Use

CAA insurance has just introduced a product called MyPace Insurance. This product basically allows you to pay for the exact amount of kilometers you drive. This product is unique to the Ontario market and should be considered if you drive under 9,000 km on an annual basis. If you drive more than 9,000 km annually, however, our brokers at Mackay Insurance recommend that you stay with your current insurance ratings. If you would like to analyze your situation further with us, please let us know and we would be glad to go over these details with you!

 Drivers

When reviewing your policy, it is very important to ensure that all drivers within your household are known and listed on that policy. Many people try to save money by not listing a particular driver who holds a negative driving record - whether that be from an accident or a ticket - in order to save on their premium. Unfortunately, if this is the case within your household, you could be put in the uncomfortable position of material misrepresentation and/or voiding of your contract when it comes time to a claim. Take our advice and don’t put yourself in that position.  Simply review your drivers and your policy regularly so that you are constantly aware of the expectations and requirements. 

Accident Benefit 

When was the last time you reviewed your optional accident benefits? Perhaps you had a job which included disability or benefits before, but now, due to COVID-19 or employment downsizing, you have been forced to become an independent contractor with zero benefits.  This could impact your auto insurance. 

If you have reviewed your Mackay auto insurance before, but have recently experienced an employment change, we highly recommend that you review with us again. 

Disability benefits cap out at 70% of your gross income to a maximum of $400 a week. If you don’t have a group benefits plan, this limit may be highly inadequate.

Combining and Saving

Now is the time to review and adjust your policy limits and coverages with your insurance provider. By increasing your deductibles, combining property and auto insurance, and updating your usage, you could also save quite a bit of money! 

 

Contact Mackay Insurance in Belleville

Our team of brokers at Mackay Insurance are here to walk you through these insurance processes, to review and customize to your specific needs and help you find the auto insurance coverage that fits you best. During COVID-19, we want to ensure that you are getting the best package to fit your needs. 

Although we are working from home, we are just as committed as ever in providing you with the best possible solutions for your specific needs.

 

Be Sure, Insure with Mackay Insurance!

 

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May 15 CSR Team Update - Working From Home

Our CSR Team

Hi!

It’s Bruce Mackay from Mackay Insurance - currently working from home! Whether I’m dressed like this, or this, or even this, we’re here to help you!

You can reach me at extension 206 or email me at bruce@mackayinsurance.com.

Most of our staff during COVID 19 are at home and they’re here to help you!

Hi! I’m Holly. My extension is 209 and my email is holly@mackayinsurance.com.

Hi, my name is Wendy. My phone extension is 207 and you can reach me by email at wendy@mackayinsurance.com.

Hi! I’m Anita. I’m working from home! You can reach me by email anita@mackayinsurance.com or at extension 202.

Hi! I’m Donna Mitchell Perry. I’m working from home! You can reach me at donna@mackayinsurance.com or contact me at extension 204. Thanks and stay safe!

Hi! I’m Janet and I’m working from home! You can reach me at my extension 208 or email me at Janet@mackayinsurance.com. Thanks!

Hi! I’m Tara. You can reach me at extension 229 or tara@mackayinsurance.com.

So we’re open for business and here to help! Give us a call at 613 966 5740.

Be safe, and let’s stop this virus!

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May 15 Sales Team Update - Working From Home

Our Sales Team 

Hi!

It’s Bruce Mackay from Mackay Insurance - currently working from home! Whether I’m dressed like this, or this, or even this, we’re here to help you!

You can reach me at extension 206 or email me at bruce@mackayinsurance.com.

Most of our staff during COVID 19 are at home and they’re here to help you!

Hi, I’m Davin and I’m working from home! My extension is 219 and my email address is davin@mackayinsurance.com.

Hello! Don - extension 205. My email address is don@mackayinsurance.com.

Hi I’m Paul, I’m working from home where you can reach me at my email Paul@mackayinsurance.com or extension 211

So we’re open for business and here to help! Give us a call at 613 966 5740

Be safe and let’s stop this virus!

 

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April 24 Update - Check Your Business or Home Daily

Transcript

Hi again everyone, Bruce Mackay from Mackay Insurance.

You know, Covid-19 has impacted us in many ways. One of which, for business owners, is the shutdown of their business. For your buildings, you do need to check on them, and we recommend that you check on them daily.

There's a few things that you should be checking on:

First, check your sump pump. Make sure it's in working order. Also check your water systems, making sure if you have any sprinkler systems, fire extinguisers, or your plumbing - check for leaks.

Second, check on your heating and thermostat. Make sure your building is properly maintained.

Third, check on your roof. You want to make sure that there's not any missing shingles or any leaks.

Fourth, check on your property. It's a good practice to check it daily.

Also, if you're a homeowner, and there's been a change in your home or if you've had a rental home and it's now vacant. You do need to let your insurance company know. These are things that sometimes people forget. We recommend that if you have any changed use of your building, that you contact us as soon as possible.

These are trying times, and we're here to help. If you need any more information, please contact your broker or give us a call at 613-966-5740. You can also email us at info@mackayinsurance.com.

Please be safe.

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Tips to Keep Your Basement Dry - Mackay Insurance April 15 Update

Transcript

They say April showers bring May flowers, but they also bring floods, and claims.

Hi folks, Bruce Mackay here with a few tips to keep your basement dry.

First, check your downspouts and your eavestroughs. Over the winter, lots of things could have gotten into them and blocked them. Make sure you check the bottom and maybe get an extension that will take the water away from the house.

Second, if you're spending a lot more time at home, perhaps putting this on your project or to do list for the spring is to make sure the grading is pulling away from the house. So as water comes off your roof it doesn't go back towards the house, but goes away from the house.

Third, check your sump pump. Sump pumps that haven't worked in a while, you want to make sure that they're in good working condition. As well, we get storms in April and should the power go out, you need to look into getting a battery backup system. The life span can be anywhere from ten to fifteen years on a sump pump, and if yours is older than that, perhaps replacing it and getting a battery backup system in place would be a good idea.

For all these and more tips, contact your broker. We are working away from the office right now. You can contact us by phone at 613-966-5740, leave a voicemail and we'll call you back, or by email at info@mackayinsurance.com.

Please be safe. We'll see you next week.

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Mackay Insurance Update April 9 - From Bruce Mackay

Mackay Insurance Update April 9 - From Bruce Mackay

Video Transcript

Hi There. Thanks for joining me today.

As you may or may not be able to tell. I'm coming to you from my home office. This is my living room.

Due to Covid-19, to protect most of our staff, we have moved them to working from home.

While our offices at 35 Jim Kimmett Blvd in Napanee and 211 Dundas St. East in Belleville are temporarily closed, we are definitely open for business.

You can contact us by phone at 613-966-5740 - you'll likely get voicemail, but we will likely call you right back.

Also, you can email us (see our staff list here).

Over the next week we'll be relaunching our app and customer portal. You can go online and get your documentation as well as your liability slips directly. It's a self-serve option and it'll be really slick when it's launched.

As well, we just launched something on our website where you can pay your policy by credit card (link). As well you can send your e-transfer instead of coming in to the office. You can e-transfer to us at liz@mackayinsurance.com.

From all of my staff, we want to wish you well, we want to wish you safety, during these challenging times. And we will be in touch with more announcements in the coming weeks.

Be safe everyone.

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Take Water Safety to a Whole New Level With Boat Insurance

knot on dock

Next to your home and personal vehicles, your boat may represent one of the biggest investments you make in life.

Yet far too many boat owners neglect the one task that will protect this investment no matter what life or open waters may bring: boat insurance.

We know buying boat insurance isn’t exactly fun. It isn’t why you wanted to invest in a boat. Just tending to the maintenance itself is no joke – that boat of yours probably keeps you pretty busy even in the off-season!

But this is also why winter is the best time of year to talk with your Mackay Insurance broker and find out what boat insurance has to offer. This way, you can look forward to your launch this spring with confidence that your investment is completely protected!

What Is Boat Insurance?

Boat insurance is designed to protect certain categories of watercraft, whether motorized or not.

The main categories of covered watercraft include:

  • boats (both motorized and non-motorized)

  • watercraft (like jet skis, inflatables)

  • motors

  • equipment (GPS equipment, dinghies)

  • boat trailers

If you are not sure if your boat or watercraft will qualify for boat insurance, our friendly Mackay brokers are happy to talk about it with you.

What Does Boat Insurance Cover?

Boat insurance policies are designed to cover you in a number of different categories. You may need all or some of the types of coverage a boat insurance policy is designed to provide.

Boat insurance, like most insurance products today, can be customized to your unique needs and concerns.

These are the basic categories a standard boat insurance policy will offer coverage for:

Liability

Liability coverage is the big one for most boat owners, regardless of craft type; it will protect you if you get into an accident with your boat that causes injuries or fatalities or harms another person’s property.

Emergencies

Emergency services can include coverage for boat repairs or towing.

Damage to the boat itself

All-risk coverage protects you for the types of events you simply cannot foresee.

Some examples include damage, theft, vandalism, destruction, weather, fire, explosion, lightning strikes and other situations that are beyond your control that cause damage or destruction of your boat and related property.

Do You Really Need Boat Insurance?

This is a really good question! Be aware that some types of low-value, low-liability watercraft may actually be covered under your homeowners insurance policy. Examples include canoes and kayaks.

But when you start to get into boats as an investment, it is time to look at standalone boat insurance rather than a rider on your homeowners policy. (As a side benefit here, taking out a standalone boat insurance policy will also safeguard you from an increase in homeowners insurance premiums if you have to make a claim for your boat.)

When it comes to determining how much boat insurance you need, there actually is no “one size fits all” answer to this question.

Rather, the boat insurance you need is dependent on the value of your boat and related property, the type of power your boat uses, your usage patterns, the type of storage you have for your boat/property, who can use the boat, what type of trailer or hauling vehicle you use and other factors.

How Much Boat Insurance Do You Need?

One big question all new boat owners typically have is how to figure out how much boat insurance you need.

As a general rule of thumb, if your boat is valued at $100,000 or less, you will pay about 1 percent of its value annually for your boat insurance policy.

Here, this would mean that insuring your $100,000 boat would cost you about $1,000 in boat insurance annually.

All things considered, paying $1,000 for a boat worth $100,000 is a very reasonable cost to protect the value of your investment.

Are There Discounts for Boat Insurance?

Many boat owners are happy to learn that discounts can apply to boat insurance.

Here are some discounts to be sure to ask about when you talk with your broker about boat insurance:

  • Multiple policy discounts (if you carry more than one policy with the same insurer)

  • Full lump-sum premium payment (if you pay for the full year at one time)

  • Power Squadron or other boat safety courses

  • Homeowners insurance discount 

  • Member discount (if you belong to a boat club or association)

  • Dry dock discount (if you store your boat at a dry dock instead of on the water)

  • Usage discount (if your usage patterns are moderate or seasonal)

  • Good credit discount (if you have an excellent or good credit score)

Get in Touch

Are you considering a boat purchase? Contact one of our friendly, knowledgeable brokers before you buy to find out what your insurance rate will be.

Contact us online or give us a call at 1-888-853-5552.

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Special-Event Insurance: When You Need It & How to Get It

special event insurance

Special-event insurance is a less well-known product – in fact, most people don’t even know they need it until after their event date has passed!

But depending on what you’re planning, you really may need it. In this litigious society we live in today, you just never know when an unexpected oops might turn into a headline-making lawsuit.

In this post, find out more about what special-event insurance is, when you need it, how much insurance you need and how to get it.

What Is Special-Event Insurance?

Special-event insurance might more accurately be named “special-event planner insurance.” It could also be called “one-day event insurance,” since in most cases it is active only for the time the event is taking place.

The primary purpose and goal of this type of insurance product is to protect you, the event planner, from any event or action that might cause you financial or personal distress.

More specifically, special-event insurance is designed to cover anything and everything that might occur during your special event that no other existing insurance policy will cover.

What Does Special-Event Insurance Cover?

Special-event insurance, like most insurance products, can be customized to some degree. This means the answer to the question of when you need special-event insurance may not be clear-cut at first.

It is always smart to talk with your Mackay broker to share the details of the event you are planning and discover if special-event insurance is a smart choice.

For general purposes, special-event insurance is designed to cover issues such as the following:

  • Damage/destruction of rented property (i.e., venue, tables, chairs, tent, vehicles)

  • Bodily injuries sustained by bystanders, participants, staff or you

  • Extra costs sustained by last-minute vendor cancellations or changes

  • Financial losses due to participant cancellations (permits, security deposits, etc.)

  • Issues related to alcohol (this often requires a special rider on the policy)

  • Event cancellations due to weather, fire, power outages and other unforeseen issues

When Do You Need Special-Event Insurance?

Here are some common event-planning scenarios to help you think through whether or not you may need a special-event insurance policy.

You are hosting an event at your home

In general, if you are hosting small events in your home, your homeowner’s insurance policy will probably be sufficient to cover you.

Here, you want to read the fine print of your policy, because sometimes there are exclusions for gatherings over a certain number of people, where alcohol will be served, specific types of gatherings (such as bachelor/bachelorette parties) and similar limitations.

If you will be bringing in a band, a DJ, portable bathrooms, a tent, valet parking attendants or any similar additions, you may also need one or more permits from your municipality.

And if you are hosting a party where most of the guests are personally not known to you, be sure to talk with your Mackay broker to find out if you need special-event insurance to increase liability coverage during the event.

You are hosting a personal event at a rented space

Purchasing special-event insurance is always a smart move if you are hosting an event at a rented space. If alcohol will be served, be sure to mention this when you take out your policy. Often this will require a separate policy rider.

Here, it does not matter whether the event will be private (invitation-only) or open to the public. In either case, and especially in the latter case, unless the rental venue specifically states otherwise, purchasing your own independent special-event insurance policy is a protection you don’t want to be without on the day of your event.

You are hosting an event for work

If the event you are hosting is for your employer and is part of your job description, it is quite likely your employer already has insurance that will protect you, but be sure to ask!

If the event you are hosting is for your own small business, talk with your Mackay broker about whether your existing small-business liability insurance policy is sufficient to protect you or if you need to add a separate event insurance policy for the day.

How Much Special-Event Insurance Do You Need?

As with any insurance policy, you have options when it comes to purchasing your policy. In general, event insurance is an inexpensive product and also one you have a great deal of control over.

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Mechanics: Are Your Tools Insured? Why You Canít Wait for This Important Coverage!

mechanic's tool cabinet

If you owned a brick-and-mortar business, you would want business insurance coverage to protect the premises as well as the contents.

But when your business is wherever you happen to be, and your professional tools and equipment travel with you from one appointment to the next, you need tool insurance that can travel with you and protect you wherever you are, day or night.

Mechanics tool insurance is not one of the better-known commercial insurance products, but it is also not the type of insurance you want to learn about only after your valuable tools and equipment have been stolen, damaged or destroyed.

In this post, learn timely information about mechanics tool insurance coverage, why you need it, when you need it and how to get it.

When Do You Need to Insure Your Tools?

When do you need to insure your tools? Is this insurance just for working professionals who use their tools and equipment as part of their career?

The short answer is no.

The longer answer is that tool insurance doesn’t just cover professional mechanics, contractors and businesses such as electricians or plumbers whose livelihood depends on their tools.

If you own a valuable tool collection for personal use, you can also benefit from tool insurance.

But Doesn’t Your Auto or Home Insurance Cover Tools and Equipment?

This is one of the most common misconceptions people hold about auto and home insurance policies!

Unless you have specifically requested a rider to cover valuable property such as tools and equipment, it is unlikely that either your homeowners insurance or your auto insurance policy will cover loss, theft, damage or destruction to your tools.

Even if you have a commercial auto insurance policy in place, this policy may not cover tools and equipment you transport, or your coverage limit may not be adequate to the full value of your tools and equipment.

What Does Tool Insurance Cover?

Tools and equipment insurance can vary depending on the insurer. In most cases, “tools” are belongings that are valued at $1,000 or less per item.

Common examples of tools covered under a professional tool insurance policy include hand tools, power tools, supportive gear (ladders, wheelbarrows, etc.) and safety gear (goggles, gloves, knee pads, etc.).

What Is Equipment Insurance?

If you also own equipment that you rely on to do your job, or if you have a personal collection of valuable equipment for projects or home safety, equipment insurance is a policy designed to protect your investment.

In most cases, “equipment” is defined as belongings with a replacement value of greater than $1,000.

Common examples of equipment covered under a professional equipment insurance policy include compressors, generators, backhoes, excavators, scaffolding and similar types of equipment.

Options for Ensuring Your Tools and Equipment Are Adequately Insured

If you are taking out an insurance policy as a part of your professional career, even a single day’s interruption could be costly for you.

So, as with any insurance product, it is important to set up your coverage in a way that fully safeguards your ability to get back to work quickly no matter what happens to the tools and/or equipment you rely on for your daily work.

Contractor insurance offers different options to address loss, theft, damage or destruction to your professional tools and/or equipment and also to the vehicle you use for work purposes.

Full replacement value versus market value

There are two ways you can be reimbursed for tools or equipment that have been lost, damaged, stolen or destroyed.

You can choose to receive the full replacement cost of the item (i.e., what it would cost you to purchase the item new) or you could choose to receive the market value of the item minus depreciation.

Rental reimbursement rider

It is not always easy to go right out and replace certain high-end tools and equipment. You may need to wait days or even weeks to obtain certain items.

A rental reimbursement rider can get you back to work quickly if you need to rent the required tools or equipment you need to do your job while you wait for the replacement items to arrive.

Commercial vehicle insurance

As mentioned earlier, if your business includes a mobile component, the vehicle you use also represents a valuable part of your business viability.

If that vehicle is also your personal vehicle, your personal auto insurance policy will NOT cover any claims that arise while you are using that vehicle for work purposes. You will need a commercial auto insurance policy to protect your vehicle when you are using it for work.

Even if you have a commercial vehicle that you use only for work purposes, you will still need commercial auto insurance to protect your vehicle as the business asset that it is.

Here again, it is important to review coverage levels with your broker to ensure your business is not interrupted while a claim is being processed.

How to Estimate the Total Value of Your Tools and Equipment

If you need help estimating the full or market replacement value of your tools and/or equipment, your Mackay insurance broker can help.

To get the process started, we invite you to create a complete list of your tools and equipment inventory.

Be sure to include carrying cases, safety gear, supportive gear, cleaning supplies, replacement parts and other items that you use to maintain your tools and equipment.

Get in Touch

Are you shopping around for an insurance policy that will cover your personal or professional investment in tools and/or equipment? We can help!

To generate a fast, free, easy online quote, simply complete this online short form. A friendly Mackay insurance broker will contact you to learn more about your tools and equipment and discuss your insurance options.

Contact us online or give us a call at 1-888-853-5552.

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Why Insurance Is So Expensive in Ontario & What You Can Do About It

money bags and question marks on blackboard

It’s no secret that Ontarians have some of the highest auto insurance rates nationwide.

This is a popular topic for major news outlets and certainly gets drivers’ attention when those annual premium notices go out.

“But why?” is the common refrain. Everyone is concerned about the cost of their insurance, from high-risk drivers to drivers with a spotless driving record.

Even officials representing the Insurance Bureau of Canada (IBC) acknowledge that Ontario’s auto insurance premiums are high and that the industry is struggling to get a handle on the situation.

What can you do to control your auto insurance costs when you live in the priciest province in the nation? We’ll show you: read on to find out!

Shop Around & Don’t Settle for “This Is the Best Rate You’re Going to Find”

Shopping around is a smart play. While the insurance industry as a whole uses some common factors such as age, gender, location, make/model, driving habits, driving record, etc.), individual insurers file their own rates. Different insurance companies reward different customers with a better price. As an example, Company A may have collected data that tells them that customers who park their car in their driveway have fewer claims than customers who park on the street. They may give a discount to those people. Company B may never have looked at that aspect of setting rates. If you are insured with Company B, you may be getting their best rate, but not the best rate available.

Similarly, because bottom-line price is such a powerful motivator for customers to switch insurers, insurers are free to offer their own incentives and discounts to retain customers and build loyalty. So if an insurance broker tells you that their offer is “the best you’re going to find,” keep looking. Chances are good they know their offer isn’t the best!

Buying your insurance from an insurance broker such as Mackay Insurance gives you an advantage over people who buy from a 1-800 number with only one option for them. Your broker can do some of that legwork for you and check which is the best insurance company for you.

Even if you are insured with a broker, periodically stop in and talk to them about your options. Your circumstances may have changed, and they may now have a better answer for you. A good time to touch base with your broker is when you get your annual renewal notice. And remember that no broker represents every insurance company there is. Periodically  check the market yourself and satisfy yourself that you are not over-paying for your insurance.

Talk to Mackay Insurance for help with this. We represent many different insurance companies and can shop around and find the best deal for you. In addition, our knowledge and expertise can help find you discounts and rate reductions you may not have otherwise known about!

Carefully Review Your Insurance Discount & Savings Options With Your Broker Annually

Did you know that insurers will now discount your premiums if you install snow tires on your vehicle during the winter season? You may be able to save up to 5 percent for making this seasonal change! But you have to tell your broker or agent, or they won’t know to add the discount to your policy.

Some insurers will give you a discount if you choose to install a special app on your phone. This app is sort of like the black box on an airplane. It monitors your driving habits and can analyze this data to identify additional discounts you are eligible for (like not driving at night or regularly slamming on your brakes) to further lower your premium payments.

Another potential way to get discounts is to make your vehicle more difficult to steal! Anti-theft alarm systems and secure garaging may translate into lower risk to insure you and thus a premium discount.

Other Mainstream Ways to Lower Your Auto Insurance Premiums

While you might not love all of these savings options, each one does offer a potential avenue for lowering auto insurance premiums.

Consider a higher deductible

The deductible is the amount you pay personally if there is a claim, and the higher the deductible, the lower the premium. It generally is not advisable to put in very small claims anyway, and if your budget can handle paying a larger deductible if there was a larger claim you may as well save some premium and take a higher deductible.

One word of caution is to check what the actual savings are, as there is often something called a “diminishing return” on taking higher deductibles. For example, it may save you enough premium to be worth changing from a $500 to a $1,000 deductible, but you may find that the savings to bump the deductible from $1,000 to $2,500 don’t save you enough to make that next change. Every situation and every budget is unique, so talk to your broker about your own situation.

Drop your comprehensive and/or collision coverage

The Financial Services Commission of Ontario (FSCO) points out that an older, lower-value vehicle may not merit the additional, optional collision and/or comprehensive coverage you would want with a new vehicle.

Bundle your policies

When you purchase more than one type of insurance with the same broker, you may qualify for a discount of anywhere from 5 to 15 percent on your aggregate premiums.

Pay your premiums annually in one lump sum

It typically costs insurers less in administrative overhead to collect premiums in one annual lump sum than to send out and monitor monthly payment reminders. If this fits your budget you can save service charges.

In between paying monthly or paying for a full year is another option to investigate. Many insurance companies have an option to pay in two or three installments and do not charge the finance fee they would if you paid monthly.

Get in Touch

Are you shopping around for a lower rate on insurance? Our talented, seasoned brokerage team would love the opportunity to assist!

Contact us online or give us a call at 888-853-5552.

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Use Our New Mobile App & Never Lose Track of Your Policy Information Again!

mackay insurance app screenshotAs our life today becomes increasingly hectic, it is easy to lose track of those old-fashioned paper insurance policy cards.

Also, moving, weather disasters, kids and pets can all too easily cause important printed policy information to simply “disappear.”

Here at Mackay Insurance, we are just as likely as you are to forget to place an updated insurance card in our vehicles or to replace last year’s now-outdated printed homeowner’s policy with the new updated document in our home filing system.

Some time ago, we realized that what we needed—and what our clients need—is a way to carry our insurance policy information with us at all times!

From that bright idea, the Mackay Insurance mobile app was born. From day one, we have worked hard to create an intuitive, fully functional mobile experience for iOS and Android devices where you can access all of your insurance policy information at all times and from one single portal.

In this post, meet the new Mackay Insurance mobile app and discover how it can make your life both easier and more organized!

Watch a Short Video Introducing Our Mobile App

In this short, focused introductory video, listen to our CEO, Bruce Mackay, review the new Mackay Insurance mobile app and its many features and benefits.

What Can Our Mobile App Help You Do?

The new Mackay Insurance mobile app is designed to keep you in touch and up to date. It provides this service in two ways:

The app keeps you in touch with your broker

There are times in life when you need to reach your insurance broker right away.

Whether you have questions about coverage, you need to initiate a claim, you are ready to add to or edit an existing policy or you have had a life change requiring a new type of coverage, with the new mobile app you can reach out to your Mackay Insurance broker via phone, email, chat or website.

The app keeps you in touch with your coverage and protection

With the new Mackay Insurance app installed on your phone, you can instantly access detailed information about each active insurance policy you carry.

You can also print new insurance liability cards, review coverage limits and details, begin filing a claim, request new coverage or different coverage, update your personal contact information and much more.

How to Download and Install Our New App

There are two easy ways to find, download and install the new Mackay Insurance mobile app.

  1. You can do a search for it on the app store for your smartphone. Our app is supported for both iOS and Android devices.

  2. You can visit our online client website and request your app login and password and a link to the new mobile app.

  3. You can reach out via email (app@mackayinsurance.com) to request your login and password and a link to the new mobile app.

What You Can Do Using the New Mobile App

Once you have downloaded and installed the new Mackay Insurance mobile app, you have your entire insurance world at your fingertips!

As you launch the app, you will notice there is a separate page for each of your active insurance policies (auto, homeowners, life, business, etc.).

As you add a new policy, a page will automatically be created for that new policy. When you make changes to an existing policy, those changes will be reflected when you visit the app.

You can access and download or print out your policy information for all of your policies, including your official pink card, anytime you need them.

If you need to add a new policy, add another individual to an existing policy, change your personal information, file a claim, view your premiums and payments or reach your broker here at Mackay Insurance, all of these other features are also readily available each time you power up the new mobile app.

Winner: 2018 Favourite Insurance Broker for Belleville Intelligencer

A tidbit of breaking news: We are so proud to announce that Mackay Insurance has been named Favourite Insurance Broker by Belleville’s The Intelligencer Readers’ Choice Awards!

Mackay Insurance is a family-founded and -owned insurance brokerage. We have been serving the Quinte and surrounding areas for more than four decades, and we are so honoured to be recognized by our clients for our insurance services.

Do You Need a Quote for a New Insurance Policy?

Our online portal (and our new mobile app) make it easy to request a free quote for a new insurance policy.

Download and install our new Mackay Insurance mobile app or visit our online free quote estimate generator webpage to request a quote for auto insurance, property insurance, life insurance, motorcycle insurance, commercial insurance and collector car insurance.

Don’t see the insurance product you need on this list? Not to worry! Just reach out to us by phone, email or through our mobile app to request a quote for the insurance product you are seeking.

Get in Touch

Do you have questions about our new mobile app? Want to make a special request for new features you don’t see online yet? Do you need help locating or installing the Mackay Insurance app or navigating through all of its features?

Our friendly, professional, knowledgeable team is happy to help! Contact us online or give us a call at 1-888-853-5552 to set up a time for a phone or in-person introduction to our new mobile app!

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Insurance Basics: How to Figure Out How Much Insurance You Need

calculations on desk

The world of insurance can be a complicated one even from the inside out. From the outside in, it can sometimes feel nearly impossible to work out exactly what type of insurance you need.

Here at Mackay Insurance, we have been serving our continually growing list of clients for more than four decades. Even so, there is still something new to learn about the insurance industry each and every day!

One of the most frequently asked questions we hear every day is, “How do I figure out how much insurance I need?” That is what we are going to talk about in this article.

Types of Insurance

You may find you need different types of insurance at different times in your life.

There are four basic types of insurance policies:

Of course, there can be many subsidiary types of insurance policies within each of these major insurance categories.

For example, homeowner insurance can also include renter insurance, cottage or seasonal home insurance, flood insurance and other related policies. Auto insurance also encompasses motorcycle insurance, recreational vehicle insurance, classic or vintage car insurance, RV and motorhome insurance.

Life insurance is its own separate arena with a variety of policies ranging from a simple term life insurance policy to complex whole life (permanent) life insurance.

Business insurance can span the gamut from commercial vehicle insurance to liability insurance to a specialized suite of insurance products geared toward large corporations, home-based businesses and nonprofit entities.

There are also various specialty insurance policies, such as travel insurance, high value/rare possessions insurance, health insurance, long-term disability insurance and pet insurance.

Insurance Basics You Should Know

Even if you don’t know much about insurance itself, you probably recognize the word “premium.” This is the fee you pay in order to receive insurance coverage.

Premium costs

Your premium can vary quite a lot based on a wide variety of factors. Some factors will be beyond your control. For example, the make and model of the car you drive, the neighborhood you live in, even your personal health history can influence how much you pay for insurance coverage.

But some factors will be within your control. For instance, you can bundle a variety of policy types together with a single insurance provider to receive a discount on your total policy premiums.

Deductible levels

You can also set your deductible level higher or lower to influence how much you pay in insurance premiums annually. Some insurance companies offer payment options that avoid finance fees—for example, making three payments instead of paying monthly.

A higher deductible will lower the premium, but you want to check pricing before simply going with a high deductible. If the premium savings for switching to a higher deductible is modest, you may prefer a lower deductible. An important question when choosing a deductible is what amount you could come up with comfortably if you had a claim. If the most you could come up with is $1,000, then a $2,500 deductible may not be a good solution for you even if the cost is lower.

Optional discounts

In addition to a discount for bundling multiple types of policies together under a single insurance provider, there are often other discounts you may qualify to receive. Examples include discounts for installing winter-rated tires during the winter months, security features of your car or home and being mortgage-free on your home. Even if you are not shopping to change insurance companies, periodically stop in to see your broker and talk through you circumstances and what discounts you may be eligible for.

Choosing Your Insurance Provider

Here in Canada, car insurance is regulated by each province or territory. For the most part, the coverage from different insurance companies operating in the same province will be the same. However, prices can vary significantly—different insurance companies specialize in different segments. It is worth checking options, and a broker who represents several insurance companies can do the shopping for you.

Other types of insurance, such as house insurance, are less regulated. There will often be core coverages that are the same between companies, and there can then be significant differences in the coverage that one company provides compared to another. As an example, Company A may offer flood insurance at your address, and Company B may not.

Customer service

You want to be sure the broker or insurer you select can communicate with you the way you like to communicate. In-person visits? Telephones answered by a live person? Email? Chat-based live customer service support? All options are available, but not always all from the same broker or insurance company.

Claims processing

Research what other customers say about working with this insurer and whether the insurer serves as a client advocate when claims are filed.

Get in Touch

Contact us online, or give us a call at 1-888-852-5552 for help with all your insurance needs!

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