What Changes Do I Need to Tell My Insurance Broker?

Mar 16, 2023
Categories: Driving · Home · Safety
Staebler blog logo

Your insurance coverage is unique to you and policies are tailored to each person or item (i.e. your policy will be different than your neighbour’s, even if you drive the same car).

It is important to keep in mind that changes to your life, or your property, can affect the way your policy responds in the case of a loss. Even a minor change can mean the difference between a claim being covered or denied. When in doubt, it is best to inform your insurance broker so they can advise if it will have an affect on your insurance coverage in the future.

For your home and car insurance, here are some examples of things that could change that you’ll want to make sure to let your insurance broker know about:

• Your home address

• Your martial status

• Home renovations

 – Finished basement, kitchen reno, bathroom upgrades

• Using your home as an office or running a business from home

• Adding an additional insured

 – Having a roommate or partner move in

• Renting out rooms or parts of your home

 – A student living in your basement, listing part or all of your home on Airbnb

• Upgrading or modifying your car

 – Exhaust systems, lift kits

• Changing or starting a new job

 – You may be eligible for Group Rate Discounts

 – Commute distance changing

• Starting a side hustle

 – Driving for a ridesharing app (eg. Uber, Lyft)

 – Delivering takeout food, groceries, or other items (eg. Uber Eats, Door Dash, SkipTheDishes, Instacart)

• Acquiring valuables

 – Jewelry, artwork, electronics

 – Beginning a new sport or hobby (eg. bicycles have a policy sub-limit)

• Installing a swimming pool or hot tub

This list is not all inclusive but represents some of the most common changes that can affect your insurance coverage. It’s important to keep your insurance broker informed of any significant changes in your life so that they can help you adjust your insurance policy accordingly.

Any questions? Please reach out to your Staebler Broker today.

. . .

Staebler Insurance is a general insurance broker specializing in auto insurance, home insurance, small business, and commercial insurance. Staebler brokers proudly serve Kitchener, Waterloo, Cambridge, Guelph, Stratford, Listowel, Fergus, Elora, Wellington County, Perth County, Waterloo Region and southern Ontario. Click here to get started.


Submit a Comment

Your email address will not be published. Required fields are marked *

Related Posts

When Can I Take My Snow Tires Off My Car?

When Can I Take My Snow Tires Off My Car?

Spring has sprung in Ontario with melting snow, warmer weather, and dry roads. Naturally, drivers are beginning to ask when they can take the snow tires off their car. To maintain your snow tire discount and coverage, most insurance companies require you to have four...

read more
Top Tips For Safe Winter Driving

Top Tips For Safe Winter Driving

As the winter season moves along, Mother Nature has brought its familiar friends of dicey road conditions, ice slicks, and blinding flurries. Driving in the winter is never fun, but there are steps you can take to make it a lot less dangerous for you and your family....

read more