What College and University Graduates Need to Know About Insurance
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- What College and University Graduates Need to Know About Insurance
Congratulations! Graduating from college or university is a significant milestone in your life. One that will bring on many new and exciting life changes involving work, money, living space and possessions.
As you seek out new ventures, one thing you’ll need is insurance. And one thing you’ll want is good insurance, reasonably priced from a knowledgeable advisor.
Things to consider:
- Auto
- Renter’s
Auto Insurance
In college, you were probably on your parents’ auto policy. That’s because their policy covered resident relatives. However, when you move out and/or get a title to a vehicle, you’re no longer covered on their auto policy.
Another reality is that your auto insurance needs are different than your parents’. For example, they might be financially able to have a large deductible on their policy. But that might not be best for you right now.
Now is the time to call Colley Insurance. Because we represent a wide variety of insurance companies, you’ll have many options to choose from.
Also, auto insurers offer discounts. You can bet we’ll hunt every one of them down for you.
Options and Discounts. Colley Insurance will present all of them to you. We’ll make sure you get the right auto policy coverage value for the right amount of money.
Renter’s Insurance
Picture this. You finally get your own place. You move out of the family home (Not just for the school year. This time it’s permanent). You can’t believe how much stuff you’ve accumulated:
- TV
- Laptop or PC
- Printer
- DVD Player
- IPod and other music players
- Cell Phone
- Game systems
- Bedroom set and other furniture
- Microwave and other kitchen appliances
- Watch / Jewelry
(You might not think they’re worth much but they are—especially when you think of how much it would cost to replace them.)
A couple of friends help you move to your new garden apartment. Great!
You’re moved in, you’ve managed to save a couple of bucks and it’s two weeks before you start work. So, you take a short trip with some friends to Cancun. You have a blast and return home on a Saturday night.
You’re still smiling at the memories of the trip as you walk up the stairs. Maybe you’re even chuckling as you put the key in the door and open it.
Then you stop laughing. You stop smiling. You mouth goes ajar and you can’t believe your eyes.
Your place has been trashed. Everything you had is gone—your laptop, DVD player, game system. Everything.
That’s a bad enough feeling. And it happens. But eventually you realize all of your things are replaceable. Or are they?
Did you have renter’s insurance?
Renter’s Insurance covers your belongings (clothing, books, CDs, furniture – everything) not only in your apartment but in your locked car and anywhere else you take them. It protects your things against fire and other occurrences beyond your control—including vandalism and theft.
If you thought about it at all, you may have thought insurance was the responsibility of the landlord. It’s not. The landlord’s policy covers the building only. It’s a renter’s policy that will help pay for the replacement of all your personal items.
It will also pay for an attorney and protect you in case someone gets injured while in your apartment and/or you get sued if damage caused by you impacts neighboring apartments.
Colley Insurance will give you peace of mind about your belongings and your liability. We’ll help you sort it all out. As with auto insurance, we’re big on discounts. We’ll make sure you get them.
One Insurance Source
When you make the transition from college to “real-life,” everything changes.
Now you’re responsible for protecting yourself and your family….
Your choices are difficult and you need an expert on your side. Don’t fool yourself and pretend you know insurance. It can be complicated business. Plus, your needs can constantly change as your life changes.
Work with someone who specializes in College and University Graduates. Contact us at Colley Insurance today.
The saddest words an insurance broker ever hears are “I knew I should have done something.” All you need to do is one simple thing… contact us.
We’re your one-stop insurance shop. We’ll do all the work for you. Complete the protection analysis form today, or call us now at 519-824-4040.
The more your assets grow, the higher your liability risks are. No matter how well you’ve covered your bases, sometimes things go wrong. A car accident. A guest who slips and falls on your property. A lawsuit. If you don’t have the right coverage, an unfortunate situation can compromise your financial security and put your personal assets at risk.
An excess policy responds when the underlying liability limits of your other policies, such as home and auto, aren’t enough to cover the unexpected costs of a lawsuit or accident.
It is important to note that most Canadian insurance policies carry on average $1,000,000 of liability coverage. This limit can quickly become quickly exhausted and is very frequently limited to North America. The Group Personal Excess policy provided by Chubb Insurance provides up to $5M of worldwide coverage which extends to all dependent member of your house hold and also provides coverage for foreign owned assets.*
* Territorial restrictions apply: Sudan, North Korea, Iran, Cuba, Syria
Personal Liability (Homeowners) for bodily injury and property damage in the minimum amount of $1,000,000 per each occurrence.
Registered and unregistered vehicles in the minimum amount of $1,000,000/$1,000,000 bodily injury and $1,000,000 property damage; or $1,000,000 single limit per each occurrence. Registered vehicles include motorcycles and motorhomes.
Uninsured and underinsured motorist protection in the minimum amounts of $1,000,000 per each occurrence. This requirement does not apply to the provinces of Quebec or Manitoba.
Watercraft less than 8 metres (26feet) and 50 engine rated horsepower or less for bodily injury and property damage in the minimum amount of $100,000 per each occurrence.
Watercraft 8 metres (26 feet) or longer or more than 50 engine rate horsepower for bodily injury and property damage in the minimum amount of $500,000 per each occurrence.
*The above liability limits must be in USD if the asset is located in the United States.
Each participant is covered for a $5 million limit of liability, and there is no annual aggregate on the policy.
Your Chubb Group personal Excess Liability coverage provides worldwide automobile rental coverage (subject to a few territorial restrictions), for up to 60 days. You can rent a car while on vacation and have coverage for personal injury and property damage without buying the additional insurance.
Yes. At the time of writing this (November 1, 2017) you would not be covered in Iran, North Korea, Syria, Cuba and Sudan. Please check with us for any changes to these territorial restrictions.
What do I do if there is an accident?
Please contact Colley Insurance at 1-888-824-0445 as soon as possible, so we can help you through the claim process.
Need any help!
Office: 519-824-4040
Toll-Free: 888-824-0445
Fax: 519-763-6839
customerservice@tgcolley.com
1 - 34 Harvard Road Guelph,
ON N1G 4V8
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