From the category archives: Fairway Insurance Services

Business Insurance

Things to Do to Prepare for a Hurricane!

Written by on 9/6/2019 6:01 AM . It has 0 Comments.

With Hurricane Dorian heading our way over the weekend, now’s the time to start preparing around your home and business. To make this a little easier, here are our top 10 things to do to prepare: 1)     Tie down or bring inside your patio furniture or anything loose around your home 2)     Trim dead branches and cut down dead trees to reduce the danger of these falling onto your house. 3)     Make sure downspouts are clear of debris and direct water away from your home. 4)     Fill your vehicle with gas 5)     Fill your propane tank for your bbq or have a spare in case you need it to cook food.  6)     Be prepared for power outages with sufficient food, water and medications.              • Water, one gallon of water per person, per day, for at least three days. (for drinking  and sanitation)    ...


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Net’s and Gear - Are you Covered?

Written by on 12/5/2018 5:32 AM in , , , , , , , . It has 0 Comments.

Commercial fisherman will usually always have nets and gear that they use in their operations.  Although some may feel that this gear is covered under the commercial fishing vessel policy, that is incorrect. Nets and gear coverage is an added coverage that needs to be purchased by the vessel owner.  There are also 3 streams of nets and gear coverage: 1)     Nets and Gear – On Board the vessel 2)     Nets and Gear – On Land 3)     Nets and Gear – In transit to and from the vessel  Nets and Gear – On Board the Vessel Accidents happen, and fishing accidents are no different, a fishing enterprise can purchase nets and gear coverage under their commercial fishing vessel policy, so that the costly gear can be included if there was an event to occur at sea causing this gear to be lost. There is also some on land coverage included in net’s and gear coverage if it’s purchased for gear on the vessel ...


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WHY DO I NEED DIRECTOR’S AND OFFICER’S INSURANCE (D&O)?

Written by on 9/5/2018 7:15 AM in , , , , . It has 0 Comments.

Directors and Officers insurance protects the personal assets of directors and officers, and their spouses, in the event they are personally sued by other parties for (alleged) mis-management of their company or organization. What is the difference between Commercial General Liability (CGL) insurance and Director’s and Officer’s (D&O) Insurance: o   CGL provides coverage for claims arising from third party property damage and/or bodily injury. o   D&O provides coverage for wrongful acts such as neglect or breach of duty. People who give advice and/or make educated recommendations also benefit from Errors and Omissions (E&O) coverage, as they are at risk of being sued for giving improper or misleading advice. Examples  of types of potential losses may include: o Wrongful dismissal o Slander o Fraud ...


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How Much Commercial Building and Equipment Coverage Should I Have?

Written by on 6/21/2018 5:57 AM in , , , , , , , , . It has 0 Comments.

At some point in time as a business owner you have had to decide how much insurance coverage you feel you need on buildings, equipment or stock that you own or are responsible for.  Hopefully the following will help you make an informed decision. Most property insurance polices contain a “Co-Insurance Clause”.  The word in essence means that both parties, yourself and the insurance company can become partners in payment of an insured loss.  Most insurance claims to buildings, equipment or stock tend to be partial losses and not total losses and an insurance company needs to collect enough in premiums to cover all losses and expenses.  It is impossible to know who is going to have a partial loss verses a total loss, so to stop businesses from only insuring a portion of the value of a given building, equipment or stock a “Co-Insurance” penalty is contained in the contract wording.  In simple terms this clause states that insured losses are settled on the basis o ...


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What's your Deductible??

Written by on 2/27/2018 5:19 AM in , , , , , , , , . It has 0 Comments.

Deductible options are used in  both auto and home insurance. Many insurance companies have set deductible options. When choosing your collision and comprehensive deductible your insurance broker should advise what options are available. For example: $1000, $500, $250 and $100. The higher the deductible the lower the premium. Depending on the overall rating, increasing or decreasing the deductible may not change the premium by a large spread. In other cases it can alter the premium enough to make a difference. The same applies to home insurance. Due to rising claims, some companies have set minimum deductibles for collision, comprehensive and home insurance. Picking your deductible should be based not only on how it effects the cost of your policy but also what you can afford if you were to have a claim. If you want  a $1000 collison deductible in order to bring down your annual premium, you need to be able to pay $1000 out of pocket if you were to have an at fault collision claim. Check w ...


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What's the Most Important Insurance for Businesses?

Written by on 1/11/2018 7:36 AM in , , , , , . It has 0 Comments.

Commercial General Liability insurance, commonly referred to as a CGL policy,  is the most important insurance coverage a business owner can have.  This insurance coverage ensures that the business, and business owner, is protected in the event of injury to a person, or property damage caused by the insured, in an area associated with the business. The commercial general liability policy includes various different coverages as follows: Bodily Injury and Property Damage Liability – For example, if a client slips and falls on your property because you did not salt or sand properly, or you are plowing a client’s property and cause damage to part of the property, these things would be covered under this policy coverage. Personal Injury Liability – This coverage includes coverage for false arrest, wrongful eviction of a person from your property, or oral slander or libel.  For example, if you wrongfully detained someone on your premises because you believe they were stealing on ...


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The Importance of Choosing A Local, Family Oriented Business for Your Insurance Needs

Written by on 11/9/2017 5:14 AM in , , , , . It has 0 Comments.

Fairway Insurances Services Inc. is a family operated business. With over 40 years of experience we have grown and expanded to fit the needs of our clients. We have insurance brokers all over Atlantic Canada, and in British Columbia to help find the right kind protection for you and your needs from the best insurance companies offered in Canada. Insurance is not simply a piece of paper or a contract. Insurance is being able to have peace of mind knowing that you, your family, and your assets are protected. When you buy insurance, it is not just another pill to pay every month. By buying insurance, you have just purchased the peace of mind that when a bad situation occurs you will be protected. The assets that are important to you can range from thousands of dollars to millions of dollars, so shouldn’t you be insured by a brokerage that cares about you, understands the importance of these assets, and wants to make the process easier? At Fairway Insurance, we care not only about our client’s fina ...


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Summer Parties, Alcohol, and Your Responsibility as a Host

Written by on 8/8/2017 5:54 AM in , , , , , , , . It has 0 Comments.

Summer is a great chance to have a get together, be it sitting around the pool during the day or even around a fire at night. It’s a great time for weddings, reunions, and all things in between.   If you’re an adult these events will sometimes have alcohol involved, and if you’re the host, then you are responsible for your guests. What exactly does this mean?  It means that if you are the host and your guests are drinking, it is your responsibility to ensure they do not drive or drink too much.  Here are a few suggestions on how to ensure your event goes off without any issues. 1)      Have anyone that has driven to the event location leave their keys with an attendant if they are having a drink or two. 2)      Arrange to have a couple designated drivers / or taxi’s to bring people home when they need 3)      Have snacks around so that people are not drinking on an empty stomach.  ...


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Carbon Monoxide Detectors Could Save Your Life!!

Written by on 4/6/2017 10:08 AM . It has 0 Comments.

 What can you do to prevent carbon monoxide poisoning?

-Have your any gas, oil, coal or wood burning appliances serviced by a qualified technician every year.

-Install a battery-operated or battery back-up carbon monoxide detector in your home and check or replace the battery when you change the time on your clocks each spring and fall.

-Leave your home immediately and call 911 if your CO detector ever sounds. Seek prompt medical attention if you suspect CO poisoning and are feeling dizzy, light-headed, or nauseated.


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