LÉVIS, QC, June 27, 2012 /CNW Telbec/ - It's a warm, sunny day—perfect
weather for a bike ride. And bam! You swerve to avoid a rock, slamming
into the door of a nice convertible. So much for your beautiful, brand
new bike. You're no worse for wear, but the bike is totaled... and the
door needs replacing.
An everyday situation like this can be costly for the one third of
Quebec tenants between the ages of 18 and 34 without home insurance.
According to a survey commissioned by Desjardins General Insurance, in
Quebec, 35% of people in this age bracket (versus 23% for the rest of
the population) do not insure their apartments.
The study revealed three main reasons why these respondents had not
insured their property: thirty-one percent said it had never occurred
to them, 30% of them find the premium too high, and 18% believe they
don't own enough valuable property. However, many of these people would
be surprised to learn that for less than 65 cents a day, you can insure
all your property while taking advantage of coverage that comes in very
handy when you have to replace a damaged door and purchase a brand new
"Keep in mind that home insurance is not only going to help
policyholders replace their own property in the event of damage—it will
also cover them for any damage they or their dependents may cause to
other people's property. This is what is known as civil liability, and
it's included with our home insurance policies," explains Denis Côté,
Vice-president of marketing at Desjardins General Insurance.
The survey also indicates that nearly half of uninsured tenants age 18
to 34 are not familiar with civil liability. "It is important to
understand that if you are not protected by home insurance and you are
responsible for any major damage, your financial health and that of
your loved ones will automatically be threatened, long into the
future," Mr. Côté emphasizes.
It makes sense that if you are responsible for your bike, you are also
responsible for any damage you cause if, for example, your apartment
catches fire and destroys the entire building or a good part of it. And
in such cases, tenants can be responsible for mind-boggling repair and
Making a property inventory
When you take a look at what you own, you will definitely start to
realize how much it would cost to replace it. So why not take advantage
of Moving Day on July 1 to inventory your property? The Insurance
Bureau of Canada (IBC) has developed a form to help you do just that (http://www.infoinsurance.ca/en/documents/property-inventory/). Note that during a move, property is covered from point A to point B.
Among insured tenants, the average claim for theft is $2,500, the
average claim for fire damage is around $10,000, and the average civil
liability claim is over $8,000. "And remember that when a policyholder
is forced to relocate because of damage, living expenses are covered,"
explains Mr. Côté.
About Desjardins General insurance Group
A subsidiary of Desjardins Group, Desjardins General Insurance Group
provides home and auto insurance to consumers across the country and
commercial insurance to businesses in Quebec. With over 3,700 employees
across Canada, a portfolio of more than 2 million policies in force,
gross written premiums of $1.9 billion and assets of approximately $4
billion, DGIG ranks among the largest P&C insurers in Canada.
About Desjardins Group
Desjardins Group www.desjardins.com is the leading cooperative financial group in Canada with assets of
$196.4 billion. Drawing on the strength of its caisse network in Quebec
and Ontario and its subsidiaries across Canada, it offers a full range
of financial products and services to its 5.6 million members and
clients. Desjardins specializes in Wealth Management and Life and
Health Insurance, in Property and Casualty Insurance, in Personal
Services, in Business and Institutional Services. As one of the largest
employers in the country and among Canada's Top 100 Employers for 2012TM, Desjardins is supported by the skills of its 44,645 employees and the
commitment of nearly 5,400 elected officers. A new education and
cooperation program is now available to Desjardins members and the
general public. For more information, visit www.desjardins.com/co-opme.
SOURCE DESJARDINS GROUP
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