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Our Top FAQ

We can help

You’ve got questions. We’ve got answers.

Need to know more? Call the SmartCoverage team at 1-888-881-8045.

Does my location determine what I pay for auto and home insurance?

Yes. Insurance companies look at how many claims are filed per postal code and set rates according to whether you are living in an area with more claims or fewer claims. So, yes it is about location, location, location! Based on what we consider high to low risk.

If I increase my deductibles, will it save me money? And, what are my options?

Yes. By increasing your deductible you assume more of the risk and as such, your overall premium will be lower. There are deductible options as low as $250 and as high as $5,000.

How can I pay less for my auto and home insurance?

The easiest way is to take advantage of every discount you are eligible for. Combining your auto and home insurance and collecting your claims-free discount are likely your best bets.

Below is a list of discounts most insurance companies offer.


Auto:

  • Multi-vehicle discount (Having more than one vehicle on a policy)
  • Winter tire discounts
  • Good student discount
  • Graduated licensing discount (Auto only)
  • Driver training discount (Auto)

Home:

  • Non-smokers discount (home insurance only)
  • Mature homeowner discount which usually applies over the age of 50

What is guaranteed replacement cost with my home insurance policy?

If the house needs to be rebuilt and the claim is covered, the insurance company promises to rebuild your home even if the cost associated with doing so exceeds the coverage limits of your policy. At SmartCoverage, it is part of every policy we offer at no additional cost to the homeowner.

Am I fully covered? Will I need more insurance?

Every insurance policy is unique to your needs. If you have concerns about the level of coverage your policy offers, call the SmartCoverage team at 1-888-881-8045. We can advise you on the recommended coverage for your needs.

Do all drivers in the household need to be added to the policy?

Yes. All licensed drivers need to be added to the policy. However, there are a few exceptions an insurance company will accept, including if the drivers are unrelated and the other licensed drivers have their own insurance and own vehicle.

In terms of water damage to a house, what am I covered for? What extra coverage is available?

All insurance policies are different. However, most insurance policies would cover sudden and accidental water damage as long as the source of the water was from inside your home. To cover water damage from outside of your home you need to purchase extra coverage, mainly sewer back-up and overland coverage. At SmartCoverage, we’ll walk you through the whole process. Call us at 1-888-881-8045.

How long does an accident or conviction stay on my record?

Accidents are rated differently by different insurance companies. However, most insurance companies will rate an at-fault accident for nine years. Convictions usually stay on your record for three years unless they are criminal convictions like drunk driving which would stay on your record for six years.

What is a waiver of depreciation?

This is something we strongly recommend for all new car owners. In the event of a claim on that beautiful new car, the insurance company will pay out the full cost you purchased the vehicle for instead of the depreciated amount.

How does claims counselling work?

Don’t stress about making a claim without being informed. SmartCoverage’s licensed brokers can walk you through your deductible and coverage options worry-free. We are here to represent you and provide you with advice on how a claim may or may not affect your insurance’s bottom line. Call the SmartCoverage team 1-888-881-8045.

How do you cancel a policy and what is the process?

Cancellations may cost you if you cancel outside of your renewal period. However, the fee cannot be more than one month of your premium. The process is simple, but you need to ensure you have another insurance policy in place before the cancellation takes place.