Essentially, no. Property insurance underwrites the building and contents. Buildings generally remain constant. What the insurance company considers includes: how close is a building to a fire hydrant or fire station? Is the building sprinklered? What materials were used in the construction of the structure? Is there an alarm system?
With regard to property insurance premiums, the Insurance Bureau of Canada has stated that data collected between 2005 and 2009 shows the cost of $1,000 of home insurance paid by customers in Ontario dropped by 11 per cent during that time.
“Consumers are spending more on home insurance because they’re buying bigger policies to cover the recent rapid rise of home values in Canada and because they have more possessions to insure. Basements, once used to store old clothes and hockey equipment, are now often finished and filled with expensive electronic equipment.”
Insurance companies have already calculated the premiums to include charges for Fire Department services.
Property insurance is very different than Auto insurance.
Fire Marque is a privately owned Canadian company licenced in all provinces and territories.
Fire Marque’s Board of Directors have over 170 years of insurance claims experience and over 33 years of firefighting experience.
Yes, it’s in the agreement that the Municipality signs.
Fire Marque provides a new revenue stream for Fire Departments.
Fire Marque has the insurance claims technical expertise.
Fire Marque owns the intellectual rights to Indemnification Technology®
Fire Marque’s program doesn’t cost anything.
Fire Marque has a six year established track record.
The amount will vary with the number of “insured peril losses”, along with whether the area of the Municipality is urban or rural.
Not really. Insurance companies have been calculating and including Fire Department expenses in the premiums they have been charging. In fact, some insurers offer added endorsements for additional Fire Department expense coverage.
Property taxes pay for Fire Department services such as: the expense of the fire hall, the pumper, ladder trucks, and the salary of the firefighters. A property insurance policy covers, “the loss” as per the policy wordings.
As with any fire, the property owner must cooperate with the fire investigation and the Statutory Conditions of the Insurance Act and the Municipal Act.
Most insurance policies state that a “contract or formal agreement is required prior to the loss”, while others say the insured must be “legally responsible” or “required to pay”. The By-Law provides the legal contractual agreement for the requirement to pay.
Yes. Fire Marque is bonded and carries full legal liability coverage. A copy of the policy is available for the municipality.
Nothing happens. No “loss” funds are recovered from the building insurance company.
Generally, yes. Fire Marque’s expertise in recovering funds determines if “Haz Mat” incidents resulting from an insured peril are “escape” damages rather than erosion, etc. The “Haz Mat” coverage is summed up as follows:
The regulatory obligation to return a spill site to pre-existing conditions (when possible) is consistent with legal obligations at common law and the insurance principal of making the injured party whole, but with no betterment. The insurers' obligations are governed by the policy wordings and their contractual duty to their insured.
Some insurance company wordings state a bylaw is required prior to the loss before a payment will be made.
No. The policy wordings are normally clear on this point. No deductible applies.
No. The residents are not deterred from calling the Fire Department.
Fire Marque conducted a study with the homeowners. Every policy holder in the study was unaware of the Fire Department Services coverage in their policy and in every case they were pleased that their Fire Department benefited from the coverage.
No. The Fire Department Charges are additional coverages in most homeowner policies. Your agent, broker or adjuster will assist you with these questions.
No, there isn’t a concern. To date, every resident surveyed, is happy that their insurance policy helps with the costs of the Fire Department being called out to save and protect their property. There are no charges for additional fees or services.
Six years ago, the push back was from a few Insurance Broker/Agents and a few of the Insurance Companies.
With our changing environment, many insurers have recognized more than ever the significance of the Fire Marque program. Many insurers have issued additional coverage endorsements for firefighting expenses. The insurance community is gratified that the Municipalities have pledged through their signatures the funds they receive are committed to the fire departments public education programs, and/or the fire departments capital expenditure program, and/or the fire department’s firefighting training program.