guarantee gold … · prevention, planning and practice tips, designed to help protect your...
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G U A R A N T E E G O L D®
A P P R A I S A L A N D R I S K M A N A G E M E N T
G U I D E
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GUARANTEE GOLD® is committed to providing the highest level of customer satisfaction and insurance protection to help keep you and your belongings safe. The shield in our logo represents our unequivocal promise to protect the items and property you value the most. We proudly honour our commitments through exceptional claims handling and we look for coverage and preventative steps to help safeguard what’s most important to you. Use the risk management suggestions in this booklet to conduct a review of your home. Follow the prevention, planning and practice tips, designed to help protect your possessions and keep your home safe. GUARANTEE GOLD has the expertise and capital to weather any storm – to protect you from what life throws at you and is built for those who know what they value most in an insurance company.
We focus on customers who know the value of quality insurance coverage, and we design customized programs to meet their needs. Backed by our financial strength as a Canadian insurer since 1872, we commit to delivering innovative coverage and the highest degree of customer satisfaction, ensuring our customers are always in the know.
GUARANTEE GOLD is for those who know what they value most in an insurance company. For more information visit www.guaranteegold.com.
The Guarantee Company of North America. All rights reserved. Document contains general information and is not part of the policy. The terms of the insurance contract apply in all circumstances.
WELCOME
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YOUR APPRAISAL
GUARANTEE GOLD® home appraisals are complimentary for our customers and help you understand the value of your residence by completing a thorough review of your interior and exterior property. Our valuation process provides a precise replacement cost by using the most current construction data that accurately reflects the unique features and finishes of your home. The appraisals are completed by one of our professional, experienced and trained GUARANTEE GOLD appraisers during an appointment at your convenience.
WHAT ARE THE BENEFITS OF A GUARANTEE GOLD APPRAISAL?
□ Tailored recommendations to improve the safety of your home for you and your family.
□ Determine the actual reconstruction cost of your residence to provide adequate coverage.
□ Document the unique features and finishes of your home in the event of a claim.
INCLUDED IN AN APPRAISAL VALUATION ARE THE COSTS FOR:
□ Architect and design fees
□ Permit fees
□ Rebuilding costs associated with accelerated rates and timelines.
□ Builders' profit and overhead
□ Built-in cabinetry and window treatments
□ Light fixtures and chandeliers
□ Debris removal
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HOME RENOVATIONS
□ HIRE QUALIFIED CONTRACTORS
Get three quotes from qualified contractors and make sure they have references, proper permits and liability insurance in place.
□ PORTABLE FIRE EXTINGUISHERS
Use multi-purpose, type ABC model, minimum 10lb devices in your home. Place extinguishers in easy to access and visible areas on each level of your home such as kitchens, fireplaces, garages or utility rooms.
□ KEEP ALARMS ACTIVE
Smoke and battery detectors should remain alarmed throughout the renovation process. During active sanding and painting, the detectors should be covered with plastic shields to prevent false alarms. Remove plastic coverings promptly when work is not underway.
□ KEEP SITE CLEAN & BRIGHT
Install external site lighting and fencing and remove combustibles from the premises daily.
□ INSURANCE
Make sure the work being completed is covered by insurance. Talk to your broker about any planned renovations that will alter the value, use and occupancy of your home.
□ DISCOUNTS
Advise your broker of all monitored alarm systems and devices to ensure additional discounts are applied.
If you plan to renovate or make additions to your residence, consider the following:
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SEASONAL MAINTENANCE
FALL
□ Service furnace and boiler systems.
□ Clean chimney and flue.
□ Remove debris from eavestroughs and downspouts.
□ Trim branches near roofline.
□ Clear exterior drain wells.
Home maintenance routines change with the season. Be prepared with the checklist below:
SPRING & SUMMER
□ Timed with ‘spring forward’, replace batteries for smoke, carbon and security alarms.
□ Have your air conditioner serviced by a licensed professional.
□ Remove lint from the exhaust vent on external wall.
□ Replace furnace filters.
□ Clean and inspect the chimney after winter use.
WINTER
□ Clear furnace vent of ice and snow.
□ Increase insulation/ventilation to avoid cold zones.
□ Increase insulation between roof and rafters to avoid ice damming in eavestroughs.
□ Install pipe insulation tubing on hot and cold water pipes.
□ Keep combustible materials two feet from furnace/boiler.
WHILE YOU ARE AWAY
□ Set timers for lights.
□ Employ smart home technology to monitor various systems of the home.
□ Keep alarms activated.
□ Maintain heating during the cold season.
□ Ensure regular visitation and mail pick-up.
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SEASONAL HOMES
OPEN
□ Make sure that all land and water equipment is insured such as boats, water toys, outbuildings, boathouses and guest houses.
□ Review water safety tips with your family and ensure there are adequate lifejackets and PFDs.
□ Be aware of changes in water levels to prevent accidental collision with unseen hazards.
□ Replace batteries and test all smoke and carbon monoxide detectors.
□ For added security, use automatic timers or smart home technology for indoor and outdoor lights.
□ Ensure road safety when using a trailer hitch by inspecting the lights, tires, brakes, bearings and safety chains before you set off.
CLOSE
□ Hire a property manager or arrange for someone to regularly check on your property and ensure they have your contact information.
□ Keep seasonal vehicles winterized, secured and disabled during the off season.
□ Keep boats and lifts covered and locked and outboard motors secured.
□ Document belongings and the premises with a camera or simple video.
□ Secure windows and doors and close curtains or blinds.
□ Inspect roof for missing shingles, overhanging and dead branches and clean out eavestroughs and downspouts.
□ Consider installing water mitigation devices such as battery powered sump pumps, automatic shut-off valves and centrally monitored water and temperature sensors.
Make the most of your seasonal residence by following these tips for opening and closing your home:
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FIRE SAFETY
Be prepared for a fire emergency with the checklist below:
SAFETY
□ Prepare and practice an escape plan for your family.
□ Establish a safe meeting place outside your home.
□ Have two escape routes for each area of your home.
□ Teach children how to safely exit in an emergency.
□ Test your alarms on a monthly basis.
□ Keep ABC rated, 10lb fire extinguishers near kitchens, garages, fireplaces and utility rooms.
FIREPLACE
□ Always have fire screens in use.
□ Store ashes outdoors in metal containers.
□ Install chimney caps with wire mesh screens for all wood burning fireplaces.
□ Book annual chimney/woodstove inspections and cleaning.
□ Burn seasoned hardwoods to reduce creosote build-up.
DETECTION
□ A sufficient number of smoke detectors will ensure that alarms are heard. Approximately one smoke alarm should be installed for every 1000 sq/ft of living area.
□ Consider installing smoke detectors adjacent to sleeping areas and in children's bedroom.
□ Have all smoke detectors interconnected to ensure the sound is carried throughout the home.
□ Heat detectors should be used in kitchens, garages and utility rooms where steam, fumes and dust may cause false alarms.
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Water DAMAGE mitigation devices
□ BACKWATER VALVE
An automatic valve that prevents wastewater from overloading and main sewer lines from backing up into your basement. Contact your local municipality to take advantage of a backwater valve rebate program.
□ SUMP PUMP DRAINAGE SYSTEMS
These systems are effective for water damage prevention by discharging groundwater away from the home. Sump pumps should be equipped with both a battery powered back-up and be tied to your alarm system. Contact your local municipality to take advantage of a sump pump rebate program.
□ AUTOMATIC WATER SHUT-OFF SYSTEMS
Automatic water shut-off systems automatically shut off the inflow of water to the home at the first main water supply line when a water leak or frozen pipe is detected.
SENSOR BASED SYSTEMS use water sensors located near water producing appliances. When water is detected, a signal is sent back to an automatic water shut-off valve to stop the incoming water supply.
or
FLOW BASED SYSTEMS monitor incoming water usage based on two pre-programmed settings, ‘home’ and ‘away’. If levels exceed programmed levels, the alarm is triggered and the water shut-off valve is activated.
Whether it is rapid thaw, overloaded municipal sewer lines or frozen pipes there are ways to engineer your home to reduce the chances of water damage. Consider the installation of the following water damage mitigation devices to qualify for credits on your policy.
□ LOW TEMPERATURE SENSORS
These sensors are invaluable for homeowners who spend time away from their home or vacation property during winter months. Placed strategically throughout the home, the sensors can detect a drop in temperature and alert the homeowner prior to a burst pipe resulting from cold air infiltration. Sensors should be tied directly to your alarm system.
WATER DAMAGE MITIGATION DEVICES
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WATER DAMAGE PREVENTION
□ Repair cracks in exterior walls or foundations that can lead to water damage or mould in your home.
□ Clear eavestroughs and downspouts from debris and seal them to prevent water seeping towards foundation walls.
□ Direct downspout extensions at least four feet away from your home onto a permeable surface, i.e. your lawn.
□ Grade your lot to gently slope away from foundation walls and adjacent homes to help prevent ground water infiltration due to pooling water.
□ If your downspout is connected to the sewer line, engage your municipality pipe severance and capping program to disconnect your downspout.
□ As an added measure, consider installing weeping tile to help redirect pooling water away from your home.
□ If your roof shows signs of deterioration (water stains on ceilings, missing or curled shingles, moss build-up) have a roofing contractor check flashing and seals around chimneys and skylights and repair as necessary.
□ Ice and snow along the roof line may indicate ice damming likey due to inadequent roof venting and/or insulation. Contact a roofing contractor to prevent it from resulting in water damage.
WHILE YOU ARE AWAY
□ Drain and shut off outside faucet pipes.
□ Install low temperature sensors in each heating zone and maintain heating during the cold season.
□ Employ water mitigation devices.
Canada's increasingly unpredictable weather creates a growing number of claims events every year. These are measures you can take to protect water from damaging your home:
Check the manufacturers’ label to identify the date of the installation.
SYSTEM LIFESPANS
Another way to reduce water damage is to upgrade system installations in your home when they have reached their typical lifespan.
□ Asphalt roof: 15-20 years
□ Hot water tank: 8-10 years
□ Window and skylight caulking: 5-10 years
□ Appliances: 10-15 years
□ Sump pumps: 10 years
□ Replace all plastic hoses with steel braided.
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PERSONAL VALUABLES
We’ve got your personal valuables covered no matter where your travels take you. Here are tips to keep your finer things protected:
CARE
□ Fine art pieces should be kept away from direct heat sources and sunlight.
□ Keep jewellery in individual soft pouches and padded jewellery boxes.
□ Consider using a bank vault and inquire with your broker about related premium savings.
□ Wine storage: keep it cool, still, dark and sideways for optimal long term aging.
TRAVEL
□ Consider leaving the most treasured items at home.
□ Secure valuables and passports in the hotel safe or security vault.
□ Use approved locks on your luggage for added security.
□ Store official papers such as financial documents, insurance policies, birth and marriage certificates, passports and social security documents in a safety deposit box or in a fire proof safe at home.
□ Store contents such as cash, jewellery, appraisals, collectibles, bullion, bonds, stocks, family heirlooms in a vault at the bank or in a safe at your home.
HOME SAFES
□ Consider installing a permanent fire and burglary resistant safe that is connected to the central alarm.
□ Safes should be professionally installed and bolted down or secured into the walls or floor of your home.
□ Safes should be certified by a known laboratory standards company (SP, UL or ULC certified and labeled) and carry a serial number.
□ Take a video/photographic and itemized inventory of your home and contents. Keep an electronic back-up to be stored off site.
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GOLD INFRARED DETECT – GOLD ID
We're pleased to offer complimentary infrared thermography consultations using our specially trained in-house certified appraisers. Thermography uses infrared imaging to detect very small variances in heat that can diagnose moisture and potential fire hazards within the home. The GOLD ID program helps identify potential issues with a home's ventilation, HVAC, electrical and mechanical installations and more.
PROACTIVE MEASURE FOR THE PROACTIVE CLIENT
There are many practical reasons to conduct a GOLD ID consultation:
□ Current & post construction/renovation
□ Heritage homes
□ Post-claim analysis
□ Structural and system anomalies
□ Initial signs of damage or disrepair
□ New home purchase
□ Homes at greatest risk of water damage
THE CONSULTATION
Using the latest technology, we scan interior and exterior components of your home to reveal hidden issues. You can use the information to make educated decisions about the condition, maintenance and possible repairs of the following:
□ Air and moisture infiltration
□ Improperly installed insulation
□ Electrical system anomalies
Contact your Broker to ask about qualifying for GOLD ID.
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CLAIMS
GUARANTEE GOLD knows that it’s not only how swiftly a claim is settled, but how quickly your life is returned to normal.
WHAT YOU CAN EXPECT:
□ A GUARANTEE GOLD claims adjuster will contact you within two hours of notification of your claim.
□ Our staff is committed to communicating with you throughout the claims process to keep you in the know.
□ We employ leading technical experts to ensure you have the most skilled team on your side.
□ Our claims professionals take the time to listen and learn about the things most important to you and act upon them – 24/7.
WE ARE FLEXIBLE:
□ GUARANTEE GOLD stands out as a leader in the industry by giving you the option of selecting the vendor to work with or to take advantage of our cash settlement option of full replacement cost.
□ Our trusted partners who perform the work required to get you back on track, are best in class. You can rest assured they value the same high standards of quality and customer satisfaction as we do.
□ Our leading edge policy wordings drive change within the industry and ensure unparalleled flexibility and satisfaction in the claims process.
TO REPORT A CLAIM, PLEASE CONTACT YOUR BROKER OR REPORT IT TO US AT 1-888-998-1872.Do you have a question about our claims process in general? Contact us at [email protected]
© 2015 GUARANTEE GOLD® is a registered trade name of The Guarantee Company of North America. All rights reserved. Document contains general information and is not part of the policy. The terms of the insurance contract apply in all circumstances.
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