Items filtered by date: February 2018 - Paramount Insurance

It seems that more and more Albertans are operating a home based business; health & beauty products, jewelry, clothes, oils, food, lashes, nails, you name and it's likely happening - the trouble is that most people don't understand how that could adversely affect their home insurance. More importantly, how their home insurance does not cover them & how an insurance company could deny a claim in the event something happens.

A home-based business insurance plan will cover your office equipment, business inventory on and off-premise (all that product you keep in your vehicle while running errands before your scheduled demo) and business interruption insurance if anything were to happen to your home because of an insured loss. Most importantly, it will cover you for additional liability for clients, delivery personnel and employees.

Some of you may be asking what is Liability coverage? Liability coverage insures your business against bodily injury or property damage relating to your company's products or services, as well as an accident or injury occurring on the premises, such as a messenger or customer visiting your home business and slipping on your steps, tripping over toys and falling, being bit by your dog or a customer having an adverse reaction to a service you are providing.

If you are operating a home based business and you unsure if you are properly covered or have further questions/concerns on this topic, we urge you to contact your broker today.

The purpose of this role is to obtain & retain our brokerage's ideal client, to challenge business owners to think differently about the way they manage risk, and to give business owners a reason why they should do business with our organization. We want a participant who takes control of their future by owning their training. We want a Paramount Insurance champion, someone who will turn Knowledge into Success. You will have mentors and support people along the way however you will be required to get up to each day and initiate your own development and communicate upwardly about the results, activities & needs.

Qualified Prospects are expected to meet the following criteria:

Top 5 Results
1. Sell at least $100,000 in revenue each year
2. Sell in a manner that will create long term relationships with our clients and a high level value proposition. Retaining a minimum of 93% client revenue annually.
3. Quantify the results of working with our organization to every client.
4. Be a challenger in the methods of selling: teach, tailor, take control.
5. Immerse into the community through networking, associations or any way relevant to your niche.

Unique Talents
* Networker
* Driven to effectively challenge the prospect/client to improve through working with our brokerage
* Ability to connect with people and connect communities of people
* Intelligent:
   - Business acumen & Industry acumen (in one or more areas: oil & gas, farming, construction, trucking, restaurant, commercial development, etc)
   - Learn: acquisition, retention & use of knowledge
   - Recognize: identify possible risks & problems in the clients business that need to be addressed
   - Solve: come up with useful solutions to risks& problems you have noticed within the clients business or coverage
* Look and act peer to peer with our clients
* Exceptional communication skills
* Passion for teaching
* Engaging and effective presentation skills
* Understands how to identify the clients value drivers - The Clients WHY

Values
* Integrity
* Intense customer focus
* Driven to bring values to others
* Loves to Compete
* High Business Acumen - Staying current
* Intelligent: Visual, Verbal, Logical, Inter/Intrapersonal, Practical, Business & Industry
* Time - Evidenced by the ability to manage it and get paid for it
* Client Value over Client Relationship

Education
- Level 1 AIC designation minimum 
- Enrollment or future enrollment in Canadian Risk Management Designation 


Being an insurance producer means you will be consulting with business owners, educating them about risk management & insurance. You will be providing education on how/why their general business effects their insurance and ways to mitigate against risk. You will also be in the business of networking yourself & your clients, the better they are doing - the better you are doing. 

You need to have a broad understanding of insurance however you will also need to cultivate a broad understanding about varying industry. A willingness to learn and more importantly to be taught by mentors & the business owners is paramount to your success. From there, you will provide value added services targetted to their business: best practices, consulting, education, communications, public relations, networking, retirement strategy, onboarding & hiring, sales, technology, environmental.  All aspects of their business have the ability to effect their exposure to risk, which leaves them liable to insurance claims, an increase in premium and loss in business. The best way to keep our clients protected is to turn their knowledge into success.

You are required to have your level 1 AIC license and we believe that a Certified Risk Management designation is a necessary tool for a quantifying risk variables and being a Paramount Insurance Commercial Producer.

We are happy to accept Entry-level/Internship placements all the way up to Associate positions. 

This position will be commission based - so, come hungry.

Forward a cover letter & resume with references to This email address is being protected from spambots. You need JavaScript enabled to view it. - all successfull candidates will be contacted. 

We’ve nearly made it through another long, frigid winter and spring is on its way! If you couldn’t escape for a family vacation in the sun over the winter holidays, you’re probably ready to get out of dodge. Whatever the season, we’ll find any excuse for a holiday. Why not make March break yours?

Whether you’re planning to head to another province, for a quick trip to the US or further abroad to warmer southern climes, you’ll want to add travel insurance coverage to your travel checklist. If you’re travelling with family, a family travel insurance plan is a comprehensive and economical option offered through our travel insurance partners TuGo.

If you or your family have an accident or a medical emergency while you’re travelling, even within Canada, it can be costly and stressful. Having a comprehensive travel medical insurance plan will protect you financially by covering costs for doctors’ visits, hospital stays, prescriptions and more.

Many Canadians believe that if they go on vacation anywhere in Canada, they’re fully covered by their provincial healthcare plans. However, you may be surprised to hear that if a medical emergency happens outside your home province, provincial healthcare only covers certain costs, leaving you to pay the difference.

Here’s an example:
45-year-old Martin, from Lethbridge, traveled to Winnipeg for business. During a meeting, he experienced severe abdominal pain. An ambulance took him to the nearest hospital, where doctors discovered he was having an acute gallbladder attack. He required immediate surgery! After two days in hospital, Martin was discharged. As he wasn’t medically fit to drive, he flew back to Lethbridge. In this instance, TuGo arranged the return of his vehicle home.

Luckily, Martin was covered by travel insurance; otherwise, he would have been on the hook for $2,625.31 just for the ambulance and return of his vehicle! These are not costs that provincial healthcare plans cover.

Here’s a real-life example of how travel insurance helped Isaac and his family when he was hospitalized in California:
Isaac was on a family vacation in California when he fell into a swimming pool. After several minutes, his father came out looking for him. One family member performed CPR while another called an ambulance. Isaac was rushed to the children’s hospital where he was kept for observation overnight. Luckily, he suffered no ill effects and the family enjoyed the rest of their trip.

Amount
Ambulance fees $1,200.18
Hospital fees $16,231.44
Doctors’ fees $1,675.54
Radiology fees $327.41
Provincial healthcare – $114.57
Amount paid by TuGo $19,320.00
Without travel insurance, Isaac’s family would have had to cover those costs and navigate a foreign medical system, making an already stressful situation, worse.

What are the benefits of a family travel insurance plan?
A family Emergency Medical Travel Insurance plan provides all the same benefits of an Emergency Medical plan with some added value:

Costs less — If you’re travelling in a family of 2 or more, family travel insurance is the most economical option. The more people in the family, the better the savings.

Travel together or separately — With Multi Trip Annual Travel Insurance, family members don’t have to travel together or even leave their home province at the same time.

Single trip or annual trip coverage options:
Single: If you only take one trip per year, this option makes the most sense.
Annual: If you travel more than once a year, go for this option. Choose the trip length that works best for you and take as many trips as you like all year.
Insider’s tip: Get a Multi Trip Annual family plan to make things even easier. This way you and your family can travel together or separately as many times as you want during the year and not have to worry about travel insurance. You can choose to have your policy automatically renew yearly, so you’ll be continually covered and won’t have to worry about your coverage expiring. Because we know that if you have a family, you’ve got plenty of other things to worry about.

Still not sure if a family plan is right for you? Call, come in or email your broker today to start a conversation....

Well here it is! Red Deer is listed as the fifth most dangerous city IN CANADA!! We also happen to be the first Albertan city listed....

We've been saying it every day - theft & crime are on the rise here, so we need to start protecting ourselves. Alarm systems are a great place to start - they provide safety solutions & they will get you a discount on your home policies. We always recommend Ambusch Security - they are locally owned & operated and know what it takes to keep Red Deerians protected.

Keep an eye out for suspicious vehicles & people and don't be too shy to report them to your local RCMP or City Police detachment - they want to know!

Be sure to keep your valuables OUT of your vehicle & your vehicles LOCKED! Not to mention the doors to your homes... We had an incidence this past year when criminals entered one of our brokers homes, took the keys to vehicles and away they went. Our community isn't like it used to be, we no longer live in a time where leaving your homes & vehicles unlocked is ok!

Use Red Deer Driver Take Home & Delivery - do NOT leave your vehicle for a sleepover when you've had a few too many. You may as well place a strobe light on top of it asking for people to come vandalize, rob & thieve you! Alternatively arrange transportation to and from wherever you're going! Think Ahead!

If you have questions or concerns about your coverage, or would like more ideas on how to protect yourself, give us a call today!

 

COMMON HOME INSURANCE WATER CLAIMS & HOW TO PREVENT THEM 

1. Water Damage From Washing Machine Hoses

Washing machine hoses fail for several reasons, such as:
     • Exposure to rapidly alternating temperatures
     • Installation errors
     • Poor construction
     • Not enough room between the washing machine and the wall behind it
     • Age

How to prevent it
The best way to prevent a home insurance claim of this problem is to inspect your washing machine hoses and replace them before they fail. Washing machine hoses are located directly behind your machine, and they connect to the water supply in the wall. Check the hoses that connect to both your hot and cold water supplies.
Inspecting a washing machine hose is quick and easy. But what should you look for?

Signs of imminent failure in a washing machine hose include:
     • Blisters, bubbles or bulges in the hose
     • Cracking or sharp kinks in the hose
     • Rust on the connections
     • Discoloration on the hose or connections
     • Moisture or drips

If you see signs that your washing machine hose is likely to fail, it’s important to replace it immediately. You should also replace hoses as they age, regardless of whether you see signs of imminent failure. The useful life of a washing machine hose is just five to seven years.
If your hose is older than that, it’s probably time to replace it. A new washing machine hose usually costs less than $10 and can prevent more than $6,000 in damage.

 


2. Mold and Water Damage From Bathtub and Shower Leaks

How to prevent it
Water damage from showers and tubs usually have just a few sources. Almost all of these leaks are due to leaks in the sealant or grout, or a simple lack of sealant.

There are several places where these issues show up. These are:
     • The grout in the tile surrounding the tub
     • Leaks in the corners of the tile surround
     • The connection where the tile meets the tub or shower pan
     • Leaks in the seal around the drain or drain overflow
     • The valve in the wall
     • Leaks in the hot or cold water feeds
     • Around the shower head or bathtub faucet

If the problem is in an easy-to-see area, you may be able to diagnose and fix the problem yourself. Look for cracks in the caulking around the drains, showerhead and tub faucet. If you see cracks or discoloration in the caulk, this is a likely source of the leak, and these areas will need to be resealed.

If you suspect that the leak is behind the wall, you may want to consult a plumbing professional. We can help you find and fix these leaks. We’ll also help you figure out what type of damage has already been done.

3. Leaking or Overflowing Toilets

Other causes of leaky toilets:
     • The wax ring beneath the toilet fails
     • The flange beneath the toilet is cracked or too low
     • Seals around the valves have failed
     • The toilet itself has cracked

How to prevent it:
If your toilet is already leaking, you have a few choices. If the wax ring or the flange is damaged, you may be able to replace them. However, if the toilet itself is damaged, it’s usually easier to replace it than it is to repair it.

There are also some ways to prevent leaks from occurring. The first, and most important, is to inspect your toilet periodically:
     • Inspect the fill, supply and flush valves at least twice a year. Look for leaks or discoloration.
     • Consider replacing older screw-type valves with newer ball valves, which are less likely to leak.
     • Check to see whether the bolts at the base of the toilet need to be tightened.
     • Have a professional inspect your toilet and its valves for leaks.


4. Hot Water Heater Leaks


Signs that a water heater is about to fail are also harder to spot than they are with other appliances. Look for:
     • Water that doesn’t get as hot as it used to
     • A metallic taste to your water
     • Rust on the outside of your water heater
     • Discoloration or mineral buildup on the pipes leading to and from your water heater
     • Crackling sounds while the heater is warming water

How to prevent it
You can prevent water heater leaks and damage with the following tips:
     • If your water heater isn’t already in the garage, consider moving it.
     • Inspect your water heater regularly for signs that it’s about to fail.
     • Put a drip pan beneath your water heater.
     • Replace your water heater when it’s nearing the end of its life. Most water heaters have a lifespan of eight to 12 years.
     • Flush your water heater twice a year to eliminate buildup of sediments inside it.


5. Water Damage From Refrigerator Leaks

Refrigerator leaks can come from:
• A clogged or blocked defrost drain. This is one of the first things to check if you notice water leaking from underneath the refrigerator. Another sign of a clogged drain is ice buildup in the freezer. Clogs in the defrost drain is one of the most common causes of refrigerator leaks. The defrost drain is usually located on the bottom back inside the freezer. Because it’s small, particles of ice and food can block it up easily. If you can see the drain, you may be able to repair this problem yourself. If not, call someone to service it. You’ll prevent water damage to the floor under the refrigerator.
• Water line connections to the ice maker or water dispenser.
If your refrigerator has an ice maker or water dispenser, you may notice water leaks. If you suspect that one of these connections is a problem, look for signs of water inside your refrigerator. Water line connections often leak inside the fridge, and these leaks usually happen because of a loose connection, broken seal or damage to the water line itself. Leaks in the line from the water supply should be handled quickly — water will continue leaking even if you’re not using the water dispenser or ice maker.
• Broken or damaged drain pans. This is a less common cause of water damage from the refrigerator, but like a clogged defrost drain, you’ll usually notice a puddle of water underneath or directly in front of the refrigerator first. The drain pan often holds a small amount of water, and it should evaporate quickly. If your drain pan begins to overflow or leak, you have a problem. Check the drain pan for cracks or other signs of damage.


6. Slow Water Damage From a Leaking Sink


How to prevent it
You can often prevent leaks around your sink areas if you:
     • Regularly inspect the area around your sink and beneath your sink for leaks or water damage
     • Make sure connections in the P-trap are tight
     • Replace a leaky faucet as soon as possible
     • If you notice leaks, place a bucket or rags under the sink right away to prevent further damage
     • Get a plumbing check up to look for signs of leaks or water damage


7. Leaks From Your Dishwasher


Repairing a dishwasher is best left to professionals. Because dishwashers use both electricity and water, the risk of electric shocks is much higher than it is with other types of appliances. If you notice leaks underneath your dishwasher, contact a plumber like Mr. Rooter for repairs instead of attempting to do it yourself


How to prevent it:
     • Look behind the kick plate for water leaks every six months or so
     • Check in the cabinet under the kitchen sink (usually right next to the dishwasher) for leaks from the dishwasher
     • Inspect the dishwasher seal for damage or brittleness

 

As insureds all we can do is do our utmost to maintain our property to the higest degree and to avoid claims - we hope that you found this information helpful! 

Before you leave - do you have your company specific claims emergency number saved into your phone? We’re pretty sure the last thing you’re going to want to do when a catastrophe is happening is track down your insurance policy to find the 24/7 Claim Line. We have a complete list of After Hours Claims Emergency numbers in the CLAIMS tab, they are also listed on your policy documents – take the time today to save that information into your phone – you’ll never know when it could come in handy and you’ll sure be happy with yourself if you end up needing it!