Life Insurance in Canada

Stand up anybody who has ever collected anything in their lives. Most of people at some point started a collection of different things like toy cars, match boxes or bottle tops. Usually, after a certain period of time, these valued treasures have been put away or just disposed of.

For sure, there are those among us that have never given up this sometimes strange habit and have turned it into a lifelong passion There is, however, a certain kind of collectors, who have taken this passion to a higher level and have diversified their portfolios by investing in valuable coins or stamps.

So, who is the special insurance cover for? Consider this: normal household insurance is quite good enough if you just need to cover everyday items such as TV’s, computers and so on. However, collections of higher value need to be approached differently. In some situations, collections of low value might be covered, but if you need to claim from your insurer, more often than not this will end in failure. Most household policies normally only cover the material cost of lost or damaged property. It is relatively easy to claim for a damaged front door or smashed window, but try claiming for a priceless Blue Mauritius stamp.

Therefore, fellow collectors, what is the best approach to insurance if you collection is more valuable than your new car? Do you have nightmares, visualizing it being stolen? Fortunately, you won’t need to worry anymore. There are now special policies tailor made for these collections. AIG and Allianz are but two of many insurance companies that have specialist policies for valuable collections.

If you are a serious collector, then an ‘all risk’ policy would be your choice securing your collection against most imaginable risks, even nuke attack or ‘mysterious disappearance’. Mysterious disappearance cover is offered for in the Fireman’s Fund policy. Transportation and travelling shouldn’t be a worry as both are covered in all specialist policies.

Collections naturally increase in size and value over time and insurance companies tend to offer this in their policies as a way of appearing more customer friendly. New additions to your collection can be insured easily with a simple phonecall to your policy provider. If you are nervous about going to pick up a new addition, then a simple phone call to your insurer prior to going and your new investment is insured.

Obviously nothing can replace your cherished collection, should it be destroyed by fire or stolen by some hard-hearted thief.

Nevertheless, if you can be compensated financially for the full value of your investment, then the pain should be more bearable.

Life insurance, long term care, disability insurance - we all have bought at least some of these products. They are well known options to shield financial safety of our everyday life. The selection of insurance types is quite wide, however conservative it may look at the first sight. But don’t be surprised when you find out about the unexpected variety even in the insurance world. Strange or at least a bit funny, that is how some special policies look. You can for instance purchase insurance for your special events.

Imagine yourself organizing a wonderful wedding ceremony full of romance - taking place on the beach, with roses all around and guest count going into hundreds. But in the worst possible scenario, it may happen that just before the ceremony starts, you step on your veil, slip and end up with a broken leg. For such cases, there is a special insurance policy available, if only to limit the damage to the minimum. No matter if you need to insure a birthday party, a wedding ceremony or a bar mitzvah, almost all attributes of the event can be covered if you choose a suitable product. The most often used insurance types are liability and cancellation insurance, but you can tailor the insurance according to your specific needs. But what to do if you have dreamed of an outdoor ceremony and the weather shows you its unfriendly face? No problem, if you buy the insurance in advance (around two weeks), you can ask also for this protection.

And there are many more options regarding your events insurance. If an unskilled photographer by mischance damages the pictures, the insurance will help you to retake it. You can also sign up for an insurance covering all the gifts, jewellery or rental property. And think about a case of a bride running away from the altar… Yes, believe me; you can cover cold feet too

Event insurance is in some of the most famous world insurers’ selection Allianz offers it via Fireman’s Fund subsidiary; Axa adds fireworks and Christmas light insurance, some other offer the option to cover alcohol related accidents. The basic coverage can often be bought a bit below $100.

Shortly said, all your events can be covered from the beginning till the end.