Insurance for Buildings Under Construction or Renovation
Posted on Monday, April 09, 2018
The thought of building something new is exciting. You’ve saved for a long time to build your dream kitchen, to expand your home with an addition or to build a new barn, workshop or garage. Most people consider insurance for their project as an afterthought. These types of construction activities may not be covered under your current property insurance policy.
In this article, we define what “under construction” means for insurance coverage and how to insure your project.
Ayr Farmers Mutual defines ...
Refund of Premium 2018
Posted on Friday, January 26, 2018
Within the company by-laws the Board of Directors at Ayr Farmers Mutual is granted the ability to declare a refund from premiums to participating Policyholders. Such a consideration is based on the company’s financial and capital position as at the most recent fiscal year end.
For the Board to declare a refund, numerous factors are considered, such as:
- The Company’s overall financial position, and the financial performance during the past year.
- The Required funding for future strategic plans
- The Future ...
Are Insurance Rates Higher if Your Local Firehall is Volunteer?
Posted on Monday, January 22, 2018
Are home insurance rates higher when your local firehall is volunteer?
The short answer is no.
When Ayr Farmers Mutual rates a building, we consider three grades of fire protection, which are not conditional on the firefighters being full-time or volunteer. Here are the three grades that Ayr Farmers Mutual uses to rate a building for fire protection:
GRADE 1: a building is within 1000 feet of an operational hydrant AND within 8 kilometers of a responding firehall, either full-time or volunteer.
GRADE 2: a building is within 16 ...
What Does No Fault Insurance Mean?
Posted on Tuesday, January 16, 2018
No-Fault Insurance is one of the most misunderstood terms in insurance.
A common misconception is that it means that no one can be considered at-fault for a motor vehicle collision. However, that is not the case.
No-fault insurance was introduced in Ontario in 1990. The purpose of this legislation was to expedite access to treatment for victims who were injured in an automobile accident.
Before No-Fault Insurance, the insurance company of the at-fault party was responsible for payment of automobile claims. Unfortunately, ...
What to do after a Pipe Bursts
Posted on Wednesday, January 03, 2018
Water, water everywhere? That doesn’t sound good…
An old rubber hose connected to the washing machine lets go. The pipe connecting to the exterior tap freezes due to poor insulation & bursts. The kitchen piping freezes up as the heat is turned off in the crawl space below. You would not believe how common these losses are!
Did you know, burst pipes and water escape claims are one of our most common claims over the last 5 years? Freezing temperatures and aging pipes don’t pick favourites - it can happen to ...
124th Annual General Meeting
Posted on Thursday, December 21, 2017
TAKE NOTICE that an Annual General Meeting of the Members of Ayr Farmers Mutual Insurance Company will be held at the head office of Ayr Farmers Mutual Insurance Company, 1400 Northumberland Street, Ayr, Ontario on the 2nd day of March, 2018 at the hour of 2:00 p.m. for the purposes of:
1. To receive, consider and approve the annual statements for the year ending December 31st, 2017;
2. To appoint auditors for 2018;
3. To approve the amendment to article 20(e) of Bylaw #5 passed by the Directors on April 11, 2017, ...
Should I Insure My Bicycle?
Posted on Monday, September 25, 2017
Do you tear up singletrack trails, or put serious KMs on your road bike? Is it important that you shave off seconds on your trail or track time? Do you scrub your bike down after every ride, making sure you can see your reflection in it? Chances are that if you answered ‘yes’ to these questions, you care about your bicycle... a lot.
Have you considered how your Insurance Policy would respond if your bike was involved in a loss? In this blog post, we explain what your current Ayr Farmers Mutual Home, Tenant or Condo Plus ...
Should I Insure my Golf Clubs and Golf Cart?
Posted on Wednesday, August 16, 2017
Tomorrow’s office golf tournament came a little sooner than expected. I just got back from trying out a new driver at the range that I had purchased to replace the one that came with my club set. Hopefully my boss will notice!
I wiped away the grass stains and polished the clubs. Kicked off a bit of the grit from my white shoes and packed them away in my bag. My gear looks clean enough to convince someone that I know what I’m doing. I laid my golf bag to rest in the trunk of my car in preparation for ...
Trees, Lawns, Shrubs and Plants - Are They Covered?
Posted on Tuesday, July 04, 2017
When was the last time you thought about insurance coverage for that tree in your yard? Our guess: likely never. We see a lot of damaged greenery this time of year. We find that homeowners are unaware of the Home Insurance policy’s impact on trees, lawns, shrubs and plants. This tends to create confusion about what the policy covers in the event of a loss. So, let’s clear things up! In this article, we will break down the Home Insurance policy wordings into plain language to help you understand the coverage for trees, lawns, shrubs and ...
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What Kind of Insurance Do I Need for My Hair Salon?
Posted on Monday, June 05, 2017
Have you always wanted to start up a commercial hair salon, beauty parlour or even a barber shop? Not sure what kind of insurance you will need?
The short answer: a Retail Package Policy .
A Retail Package Policy offers Property, Crime, Business Interruption and Commercial General Liability (CGL) coverage.
Check out this infographic for key coverages offered on the Retail Package Policy that may pertain to your business...
Contact your agent or broker if you would like to discuss insurance for your hair salon, beauty ...