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 ...
Let’s face it, at some point in our driving history we have all been distracted by one thing or another, lucky for most of us, we haven’t caused an accident…YET!
Distracted driving has become a serious issue in today’s society. The use of cell phones in cars has increased significantly. RCMP are now cracking down on distracted driving, and are handing out some hefty fines, and we couldn’t agree more…for everyone’s safety.
Here are our top 8 tips on how to stop being a distracted driver:
If your phone allows it, turn on Do Not Disturb while driving
If your phone doesn’t have do not disturb, put it out of reach
Set your GPS before your start driving do you don’t need to do it when you’re on the road.
Make sure your passengers are not a distraction. If you have children, give them something to occupy them
Avoid eating, drinking, and applying make-up while your vehicle is in motion
Keep music at a reasonable level so ...
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 ...
Spring is finally here and that means it’s almost pleasure boating time!!
Every day in late spring and summer boats hit the water. Whether you prefer sailing, speed boating or anything in between you should make sure you’re protected. As a boater did you know you are legally liable if something happens, whether you hit another boater, cause damage to the dock, or have a fuel spill?
We can help take stress of liability off your hands!! As Marine Insurance Brokers, we not only understand your liability needs, but we also have comprehensive knowledge of boats themselves, making sure that you have the right coverage for you!!
Our team of experts are here, ready to get you started this boating season!! Give us a call today at 1-888-245-4741.
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 ...
With the first winter storm of 2018 fast approaching, the Insurance Brokers Association of Nova Scotia has released some tips to keep you prepared on the road. We all know that no one wants to be on the road during bad weather, but being prepared can make all the difference.
· Remove all ice and snow from your windshield, mirrors and side windows.
· Check your wipers and washer fluid.
· Make sure you have winter tires on your vehicle.
· Check tire pressure regularly as this can be affected by cold temperatures.
· Keep your gas tank topped up in case you get stuck in traffic.
· Carry a blanket, shovel, snacks, flashlight, emergency kit, road salt/sand.
· Check ...
For a lot of Canadians fall is a time to celebrate. Hockey is back, leaves are changing, and pumpkin flavored treats are everywhere. But as summer starts winding down, our homes might need a re-freshening. Take the next few weeks to make sure your home is ready for the new season just as much as you are. Making the extra effort now can make a huge difference when next summer rolls around.
Clean the grill. As summer ends, so does grilling season. Give the whole grill a good scrub before packing it up for the season, instead of letting all of this summer’s gunk sit on it for months. It will cause a lot less hassle when you bring it out next year and want to start some outdoor barbequing.
Prepare summer items for storage. Outdoor furniture, lawn chairs and pool toys usually aren’t used year-round. Clean your summer items thoroughly and pack them away for next year. Donate any items that you know you won’t be using again, and throw out anything that is broken or unusable.
The weather is warm and outdoors is the place you want to be. It's time for barbecues, playing in the pool, and many good things to do and eat. However, this is also a time when you need to be aware of safety and here are 10 safety tips to keep you and your family safe and sound this summer.
1. Grilling Tip - make sure to clean the grill regularly and do not let grease build up. This will help to reduce the risk of fire. Also, do not let things accumulate around the grill.
2. Playground Equipment - perform a safety check on play equipment. Examine the legs of the swing structure to make sure they are sturdy and not weakened by rust. Make sure swing chains are in good condition and inspect the seats too.
Check out all the outdoor play equipment closely and look for rough spots that could cut people. If you find bad spots, sand them down and paint them with good rust inhibiting paint.
3. Deck Check - before you apply a new coat of deck sealer ...
We have recently been advised of a misrepresentation being made about our Fishing Vessel Insurance Policy we feel obligated to publicly correct due to its incredulity.
A licensed Insurance broker has been reported by more than one individual to be advising our clients and prospective clients that they are not permitted to abandon their vessel at sea in the event of an emergency if they wish to later make an insurance claim for damages to or the loss of their vessel. We are alarmed by these statements to say the least.
We can categorically advise there never has been, is not and never will be a requirement of any policy of insurance provided by Fairway Insurance Services Inc. that the owner, master or crew of a vessel must lose their life in order to place a vessel insurance claim. We are shocked by the actions of our competitor and invite his current employer to take the required disciplinary action to ensure such fabrication does not occur again in the future.