FAQs

Jul 23, 2018

What is FirstOntario Insurance Brokers?
FirstOntario Insurance Brokers is a new way for you to get competitive rates for your auto, home, auto and commercial insurance. For nearly 80 years, FirstOntario Credit Union Members have relied on their credit union to have their best interests in mind, and now FirstOntario Insurance Brokers does too. 

Jul 23, 2018

When will FirstOntario Insurance Brokers be open for business?
In July 2018, FirstOntario Insurance Brokers began offering auto and home insurance to FirstOntario Credit Union Members and everyone in Ontario looking for competitive rates, exceptional personal service and the added peace of mind that comes from knowing you’re getting advice from a name you know and trust.  FirstOntario Insurance Brokers will begin offering commercial insurance in the future.
 

Jul 23, 2018

What is the connection to FirstOntario Credit Union?
FirstOntario Insurance Brokers is a new company that is a subsidiary of FirstOntario Credit Union. It is a registered independent insurance brokerage, operating independently of FirstOntario Credit Union. 
Get to know us and you’ll find:

  • Competitive rates
  • Consequence-free claims counseling and a one-of-a kind claims appeal process *
  • Direct access to 24/7 claims service with adjusters who start your claim immediately
  • Claim forgiveness for home and auto *
  • Disappearing deductible on your home insurance *
  • New car depreciation waiver *
  • Dedicated, friendly and knowledgeable Licensed Insurance Brokers
* Some conditions apply

Jul 23, 2018

Do you have to be a credit union member, or FirstOntario Member, to use these services?
No you do not have to be a Member of FirstOntario Credit Union to use FirstOntario Insurance Brokers’ services.  FirstOntario Insurance Brokers is open to everyone in Ontario looking for competitive rates, exceptional personal service and the added peace of mind that comes from knowing you’re getting advice from a name you know and trust.
 

Jul 23, 2018

How do I get in touch and learn more?
Contact FirstOntario Insurance Brokers by calling 1-866-956-3642, visiting www.FirstOntarioInsurance.com or emailing info@FirstOntarioInsurance.com
 

Jul 23, 2018

Can I purchase insurance in a FirstOntario Credit Union branch?
No. FirstOntario Insurance Brokers is a separate company, operating independently of FirstOntario Credit Union.

Contact FirstOntario Insurance Brokers by calling 1 866 956 3642, visiting www.FirstOntarioInsurance.com or emailing info@FirstOntarioInsurance.com.

Jul 23, 2018

Are there Credit Union Member discounts for using FirstOntario Insurance Brokers?
There are a variety of discounts available for everyone – contact us to learn more.
 

Jul 23, 2018

Which insurance companies does FirstOntario Insurance Brokers represent?
Currently FirstOntario Insurance Brokers represent Aviva, Aviva Elite, Aviva Ovation, Ecclesiastical, CUMIS and RSA Facility. We will be expanding our roster of insurers going forward.
 

Jun 26, 2018

What coverages are required by law?
  • Third Party Liability for bodily injury and property damage (minimum $200,000)
  • Standard Accident Benefits (top-up benefits are available)
  • Direct Compensation (deductible is optional)
  • Uninsured Automobile Coverage

Jul 23, 2018

What does third party liability cover?
It protects you against financial ruin. If you are at-fault (or partially at-fault) in a car accident, the injured party can take you to court. This coverage also protects you if you damage someone’s property. For example, if you lose control of your car and destroy three lights posts, the owner of the light posts (usually the local or provincial government) will collect from your insurance company under liability / property damage.

Jul 23, 2018

….but I thought people can no longer sue under no-fault insurance?
That’s completely false. The third party can still sue if their injuries are severe enough and permanent. For example, if you cut-off a mini-van with six passengers and all six are badly injured, the potential lawsuit could go into the millions of dollars.

Jul 23, 2018

What exactly does no-fault insurance mean?  …that nobody is ever at-fault?
That’s a common misconception. In a car accident, single or multi-vehicle, somebody is always at fault. No-fault insurance means that no matter who is at fault, your own insurance company will pay for your claim. You will never have to tangle with the other person’s insurance company. Your company pays.

Jul 23, 2018

How much liability should I purchase?
As much as the insurer is willing to sell you. Most companies will sell up to $2,000,000 on an auto   policy. The difference in premium is usually only around $25.00 or less to go from $1,000,000 to $2,000,000. At FirstOntario Insurance Brokers, we strongly recommend that all of our clients purchase $2,000,000 liability, as well as an umbrella policy (excess liability protection).
 

Jul 23, 2018

Are all house insurance policies the same?
No, even though there are many similarities, policies do differ. Always make sure that you have an “All Risk” policy versus a named perils policy. The “All Risk” is the best one money can buy. But beware, just because it says “All Risk” does not mean that every claim / scenario is covered. There are numerous exclusions that are part of every property policy….that goes for house, condo and tenants.
 

Jul 23, 2018

Exclusions, like what?
Well, there are too many to list ( around 30 of them ), so read your policy wording carefully, however here are a few common ones:

  1. Breakage of fragile articles is not covered, unless you purchase a Fine Arts Rider that includes breakage coverage.
  2. Damage caused by vermin or insects is not covered…so if your log-home is eaten by termites, you are out of luck.
  3. Any property illegally acquired is not covered….such property could include the Armani leather jacket that was bought in the US and no duty was paid on it….if no duty was paid, the item is considered “illegally acquired” and therefore not covered.
  4. Wear and tear.
  5. Faulty workmanship.

Jul 23, 2018

What are some other things people should watch out for?
All policies have a section called “Special Limits”, even though the loss might not be excluded, the policy has “special limits” for various items, like:

  1. Cash is usually only covered up to minimum limits, like $300.
  2. Jewellery, watches and furs are always limited…check your policy wording for details.
  3. Stamps, coins, sports cards and comic book collections often have a special limit.
  4. Bicycles are another example…so watch out for those expensive mountain bikes.
There are many other examples. Please read your policy wording carefully.
 

Jul 23, 2018

Acts of God are never covered, right?
Wrong, things like tornados, lightning, and hail are always covered, however earthquake is a common exclusion…this coverage can be added to your policy, for an additional premium.

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