Frequently Asked Questions

Does my home insurance policy cover my swimming pool?[+][-]

Aboveground swimming pools
Generally, basic home insurance policies do not cover damage to aboveground swimming pools. However, you can obtain additional coverage to protect yourself against anything that could damage your above-ground swimming pool, with the exception of normal wear.

In-ground swimming pools
Basic home insurance policies cover damages to in-ground swimming pools.

My insurance policy covers all the belongings that are in my house.
Why should I take out additional insurance for a specific item?[+][-]

Home insurance policies generally include certain limits with respect to valuable or unusual items. Such limits apply specifically to jewellery, furs, silverware, boats and certain collector's items. You can increase your coverage for such items or eliminate certain exclusions by adding specific coverage for a given item.

Does my residential policy cover a home-based business?[+][-]

Residential policies exclude business or commercial belongings, as well as professional liability. For more information, contact us.

Am I insured in the event of a power failure that would last several days?[+][-]

Insurance policies generally do not cover the additional expenses incurred as a result of an extended power failure, unless the authorities order your area to be evacuated.

Your website constantly reminds me to seek advice from you.
Is that really necessary?[+][-]

Insurance and investment products are very complex in many respects. Wrong decisions can severely affect your financial situation. Most individuals do not have the expertise to adequately analyze their risk management and investments needs, so it is crucial to get professional advice on these matters.

Can I be sued for more than the amount of liability insurance I purchase?[+][-]

Yes. During a lawsuit, the amount of your liability insurance is never disclosed. If you are sued for more than the liability insurance you carry, you will have to make up the difference from your own personal assets. This could mean the losing your home, your investments, your RRSPs and, ultimately, going bankrupt. This is why you should review your liability limits with an insurance professional to see what limit is appropriate for your circumstances.

What happens to my auto insurance in case of an accident?[+][-]

Insurance policies are reviewed after every loss. If the loss is not your fault, your policy will most likely receive no rate increase. If you are deemed to be responsible, your policy may be re-rated with a higher rate charged at renewal or, at worst, it will not be renewed and you will have to find another insurance company.

What options do I have concerning the payment of my home and auto insurances?[+][-]

Lepelco offers payment options that vary slightly based on which insurance company you choose. Most companies offer the following plans:

• Payment in full by the policy effective date
• Two, three or four installments, depending on your carrier and your policy, if you are eligible
• 12 or 24 monthly installments, depending on your carrier and your policy, if you are eligible
• Some of the insurance companies we represent offer payment plans with no service charges

What does "replacement cost value” mean?[+][-]

For home insurance, a replacement cost guarantee means an insured item will be replaced with a new item of the same type and quality if that object is destroyed or rendered unusable. In this case, the insurer does not apply any depreciation.

For automobile insurance, the owner of a new vehicle can also buy a replacement value guarantee. In case of a total loss, various options are available, from the reimbursement of the initial purchase price to the replacement of the vehicle by a new vehicle with the same features.