So many people have questions about the insurance industry, and we want to answer them! We know how intimidating it can be when there is much unknown, so our goal is to give you some answers to help you feel informed and comfortable.
What does Comprehensive cover?
Comprehensive; subject to your deductible, will cover the following thirteen incidents: Fire, Theft, Vandalism, Windstorm, Hail, Impact with an animal, Explosion, Lightning, Falling or Flying Objects, Earthquake, Rising Water, Malicious mischief, Riot, or Civil commotion.
What are Accident Benefits, Do I need them & What do they cover?
Accident Benefits cover expenses related to medical treatments, disability, and death due to an accident. It is required by law (along with liability coverage) on all motorized vehicle insurance policies in Alberta.
What is the value of an independent broker?
As a member of the Insurance Brokers Association of Alberta, we represent multiple insurance companies rather than just one. The advantage is that we can ensure the company we place you with is best suited to you and your family’s immediate and future needs.
Do you offer payment plans at Paramount?
Paramount Insurance does not offer payment plans. However, most insurance companies we represent offer payment plan options based on each client’s individual payment history. Call us for more details on what is available to you and your family!
The Captive is in a separate vehicle – so in the event of a bankruptcy or sale or whatnot of the operating company, I would think, so long as the operating company doesn’t own the Captive itself, would the Captive’s value survive?
We cannot provide a professional opinion on this question as we are not accountants or lawyers. Therefore, we strongly recommend seeking professional advice. However, the simple answer is yes, assuming the operating company has no ownership of the Captive. The Caveat being, if both companies have common ownership (ie. the same shareholders). A court of law or the CRA maybe be able to access those assets; this a legal question that should be directed preferably to a tax attorney.
We are always open to answer any other questions you may have, and here for you for whatever you may need; email us or message us on LinkedIn or Facebook!