Best Buy Insurance Inc.
1 Rossland Rd W L1Z 1Z2 Ajax, ON, Canada

Not only is Distracted Driving incredibly dangerous, its now going to cost you BIG! When Ontario's Bill 174 came into effect in January 2019, using a hand-held device such as a cell phone or other entertainment device, they increased the cost of the fine... up to $1,000 with a three day suspension and three demerit points. Get caught twice and face a fine of up to $2,000, a seven day suspension and six demerit point. Your third strike? That will cost you up to $3,000 and you...'ll lose your license for 30 days. If you're a new driver (G1, G2, M1, or M2) you won't lose demerit points but you'll face longer suspensions (30 days, 90 days and removal from the Graduated Licensing System). Further to the fines, demerit points and license suspensions, consider this... many insurers have now amended their filed rules to respond to this legislation and now ANY handheld device infraction is considered a Major Conviction by those carriers. So what does that mean? If you're insured with one of these markets and they become aware of the violation, you'll likely get a notice that your policy is going to be "non-renewed". Your only option from there will be a non-standard market and a premium surcharge. This conviction will be rated against you for at least three years. The solution? Focus on the road and put your device down. It's not worth the risk.

The Insurance Bureau of Canada has released some unsettling stats about the increase of cyber crime since COVID-19 hit: "89% of organizations have witnessed increased phishing attacks since the beginning of the COVID-19 pandemic" "Cyber attacks have increased in the past 12 months for 99% of Canadian organizations"... "Remote work has increased the average cost of a data breach by $137,000" "Cyber security breaches in healthcare have cost more than any other industry at $7.13 million this year" IBC notes that cyber criminals are becoming more savvy and targeting businesses using a variety of methods. The following types of attacks becoming more prominent: Island Hopping- When cyber criminals infiltrate large sized company networks by targeting their clients or partners. Credential Stuffing- Attackers breach into a system by using a list of compromised user credentials. Spear Phishing - When cyber criminals send emails from a seemingly trustworthy source but instead leads to a website full of malware. Criminals are attempting to take advantage of the pandemic and aggressively targeting commercial enterprises. Small and medium-sized businesses need to be vigilant, as they are often targeted as entry points to gain access to larger businesses. Speak to your insurance specialist about how to protect your company with cyber insurance. Visit www.bestbuyinsurance.ca to learn more.

Specialty insurance coverage for cyber risks is evolving, as cyber attacks are on the rise, especially since the start of COVID-19. With so many organizations conducting much of their business activities electronically, there is a greater risk of being compromised by cyber criminals. Here are ways a cyber insurance policy can protect your company related to a privacy or network security breach:... - Regulatory defence expenses - civil fines incurred in responding to a regulatory proceeding - Legal and civil damages - the cost of legal representation and possible damages - Security breach remediation and notification expenses - costs to notify affected parties and manage a privacy incident - Crisis management expenses - public relations expenses to manage damage to your organization's reputation - Forensic investigations expenses - costs of hiring a breach response firm - Computer program and electronic data restoration - expenses to restore or recover damaged or corrupted data caused by a breach, denial-of-service attack or ransomware - E-commerce extortion and reward payments coverage - pays for the cost of a professional negotiator and potential ransom payments to the person or organization extorting the organization - Business interruption and additional expenses - income the business loses and the costs it incurs due to an interruption in services Visit www.bestbuyinsurance.ca or call 1-844-310-9537 to speak to an expert about a cyber insurance policy.

Environmental liability exposures are often hidden, surprising and catastrophic. Your business could face large and unexpected expenses if held responsible for contaminating the environment. Environmental Liability insurance is a specialized form of insurance that covers statutory clean-up requirements, third party claims for bodily injury and property damage, and associated legal expenses, resulting from pollution or contamination events. These events can be sudden, accident...al or gradual in nature. Other event related costs, such as business interruption losses, such as profit or rental income loss can also be covered. With government regulations and compliance guidelines becoming more stringent, addressing environmental and pollution liability exposures are vital to many types of businesses. Most claims resulting from these liabilities are excluded from general liability policies. Several other types of Environmental Liability insurance exist: - Environmental consultants errors and omissions - Environmental contractor policies cover operations that a remediation contractor performs - Environmental testing lab coverage (liability of firms that analyze hazardous materials in soil, ground or air) If you are interested in learning more about an Environmental Liability insurance policy, or to request a free, no-obligation quote, contact Best Buy Insurance. We've been serving Durham region since 1946! Call us at 1-844-310-9537 or visit www.bestbuyinsurance.ca to learn more.

Last week we reviewed some unsettling cyber crime stats from the the Insurance Bureau of Canada. Cyber crime has been on the rise since the pandemic, targeting small and medium businesses as a gateway to larger ones. Lets review a list of IBC's most common types of cyber crime to help understand when something's not right: Denial of Service: The hacker floods a website with more traffic than it was built to handle, making it impossible for legitimate visitors to access the si...te. Phishing: An attacker pretends to represent a trusted organization to trick a user into taking an action, such as opening a malicious attachment or clicking on a bogus link. Malware: Harmful software takes control of a machine, monitors user actions and keystrokes, and/or sends confidential data from the infected computer or network to the attacker's home base. Ransomware: Software encrypts files to prevent users from accessing them and then demands payment for their safe recovery. These attacks can occur after clicking on a phishing link or visiting a compromised website. Spoofing: A cyber criminal impersonates another user or device to attack network hosts, steal information, spread malware or bypass access controls. Brute force: The attacker attempts to decode encrypted data by trying as many password combinations as possible. Learn how a cyber insurance policy can protect your company and assets. Speak with your insurance specialist or visit www.bestbuyinsurance.ca to learn more.

According to the Insurance Bureau of Canada (IBC), only about 50% of Ontarians who rent have tenant (renter's) insurance. This is potentially because they think their landlord's insurance covers them. But a landlord's insurance only covers the structure of the apartment, not the contents within it. Tenant insurance isn't mandatory, however, it's a good idea. Not only does it cover your contents, it covers liability and additional living expenses. Contents ... Covers a specific amount of loss or damage to your property due to a insured risk. This can include items such as electronics, jewellery, furniture, etc. Insuring the actual cash value gives you coverage for the market price of an item had you sold it right before it got damaged, whereas insuring the replacement cost gives you coverage for the cost of replacing an item with a brand new one. Personal Liability Protects you from being liable if someone is accidentally injured or their property becomes damaged while in your unit- typically up to $1 million. Additional Living Expense Pays for a portion of living expenses if your unit needs to be vacated for repairs or other insured risks. If you are interested in a free, no obligation tenant insurance quote, contact Best Buy Insurance today. We've been serving Durham region since 1946! Call us at 1-844-310-9537 or visit www.bestbuyinsurance.ca to learn more.

Umbrella insurance is a type of liability insurance, meaning it protects you against lawsuits. It protects you against being sued for damage that other policies don’t cover. Examples: Bodily Injury - Covers medical bills that exceed the limitations of your auto or homeowners policy and types of injuries that other insurance doesn’t cover. For instance, if your dog attacks someone and you have to pay for their medical bills, homeowners insurance won't cover them, but umbrella... insurance will. Property Damage - For example, if your child breaks something expensive while you're visiting someone's home or you rent a scooter while on vacation and accidentally crash into a vendor stand, an umbrella policy can take care of the damage. Various Legal Damages - If you’re sued for libel, slander, malicious prosecution, violation of privacy, and a variety of other civil charges, umbrella insurance will cover you. Legal Fees - Umbrella insurance takes care of your legal fees and court costs in a lawsuit. Does Not Cover - Malpractice lawsuits - Workers compensation claims against employers - Damage caused by a business, or by any business-related activity - Damage you intentionally cause to any person or property If you are interested in learning more about an umbrella insurance policy, contact Best Buy Insurance today. We've been serving Durham region since 1946! Call us at 1-844-310-9537 or visit www.bestbuyinsurance.ca to learn more.

If you sell products and services through an e-commerce website or manage customer records digitally, you are exposed to a cyber attack. If you store any of the following information on a company database or server, you could be exposed: - Payment information - Customer information - Medical records - Financial records... - Government documentation - Business and trade secrets Cyber liability insurance protects your business from financial losses, business disruption and reputation damage. It protects you when there is a system failure or your IT system is under attack. Network Security/ Data Breach - Protects against private information accessed due to a failure of online security, such as virus transmission, data breach, data destruction and cyber extortion. Errors and Omissions - Covers claims from errors in service performance Media Liability - Protects against advertising injury claims such as infringement of intellectual property, copyright or trademark, character assassination, online slander or website defacement. Privacy - Protects against actions that include wrongful collection of information. Extortion - Covers losses due to extortion associated with information technology systems. Best Buy Insurance will work with you to understand the cyber threats and risks for your business. We've been serving Durham region since 1946! Contact us today at 1-844-310-9537 or visit www.bestbuyinsurance.ca to learn more.

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Pet insurance helps pay for expenses incurred from vet visits. It's important to consider medical pet insurance, as veterinary care can be very expensive and often unexpected, as in the case of accidents or illness. A pet insurance policy can alleviate the stress and burden of making a decision for your pet's well-being, based on affordability. Typical pet policies include coverage for: - Eye/Ear infections - Bacterial Dermatitis... - Allergies - Gastroenteritis (usually from dietary indiscretion) - Ingesting foreign objects - Broken limbs - Bladder infections - Cancer - Many other accident and illnesses There are numerous reasons to buy pet insurance for your pet, such as: - Getting your pet the best possible medical care whenever needed (emergency surgery can cost thousands of dollars) - Protecting your bank account against unexpected vet bills - Extending the life of your pet with necessary medical care - Getting the best possible veterinarian for your pet - No delay in urgent medical care due to finances Some policies offer benefits like kennel fee coverage and advertising fees if your pet becomes lost. Some provide death benefits, with a set amount for cremation or burial. A wellness plan can take care of routine vet bills, such as dental, neuter/spay, microchip, nail trimming, annual exam and vaccinations. If you are in the market for pet insurance, contact a Best Buy Insurance expert today at 1-844-310-9537 or visit www.bestbuyinsurance.ca.

Errors & Omissions insurance (e&o), also referred to as professional liability insurance (PLI), and professional indemnity insurance (PII), is a form of business insurance designed to help professional advice, consulting and service-providing individuals and companies protect themselves against a negligence claim. It protects you or your business in the event a client holds you responsible for a professional service they believe didn’t perform as promised, or if they feel t...hey were given the wrong advice, error in service, or incorrect data/information. Examples of professions that often require e&o insurance: - Architects - Arbitrators and mediators - Beauty and spa service providers - Bookkeepers - Consultants - Data processors - Engineers - High tech firms - Management firms - Software developers - Travel agents Many contractors and businesses have commercial general liability insurance, but this type of policy only covers third-party bodily injury or property damage. It typically doesn't cover contract performance, errors or disputes. Most e&o policies cover judgments, settlements and defense costs. Even if found innocent, thousands can be spent on legal defense fees, which could bankrupt a small company or contractor. It’s important to deal with an insurance broker who has experience with this specific type of policy. To find out more about e&o insurance, contact a Best Buy Insurance expert today at 1-844-310-9537 or visit www.bestbuyinsurance.ca.

Unexpected events may force you to close your business temporarily. A flood or vandalism could cause time out for repairs. As such, your income stream could come to an abrupt stop, leaving you scrambling to cover repairs, bills, payroll, and other business expenses. Statistics show that up to 40% of businesses don’t recover after a disaster. If damage is too extensive for repairs, replacement costs could be covered. For example, if a fire breaks out, equipment can be replaced... outright.. Even if your business doesn’t suffer an interruption from a loss at the physical location of your business, other unexpected events could impact your ability to generate income. If a named peril impacts one of your key suppliers, that in turn may also interrupt your business and negatively impact your business income. Examples of expenses business insurance covers are: - Rent & property taxes - Employee payroll - Hydro, electricity, and other utilities - Security - Disaster striking at a key supplier or manufacturer - A disaster or unexpected event at a neighbouring business that has a direct impact on your business - A perilous event that happens to a key client, which in turn results in a large and direct hit to your own revenue It’s important to deal with an insurance broker who has experience with this specific type of policy. To find out more about business interruption insurance, contact a Best Buy Insurance expert today at 1-844-310-9537 or visit www.bestbuyinsurance.ca.

If you rent, lease or own a commercial property, you should have commercial property insurance. Examples of commercial properties include condos, strip malls, office buildings, warehouses, garages, medical centres, and retail stores. Commercial property insurance covers the owned or leased building, along with an extensive list of listed perils inside and out. Some of these items include: - Computers and files - Equipment and inventory... - Furniture, fixtures and lighting systems - Electronics - Windows - Personal property of employees and/or clients - Company signs, fencing and landscaping - Equipment that is parked off-site for business purposes Examples of incidents that may be covered in a commercial property policy: - Sewer Backup, burst pipes and floods - Fires or explosions - Boiler, machinery and equipment breakdown - Loss of rent - Theft and vandalism - Storms/severe weather damage - Clean up expense for on premise pollutants No matter how much you prepare your business for the risks it faces, sometimes unexpected disasters happen. If your business operates from a home office, you should have a commercial property policy, as your homeowners insurance generally doesn't cover business losses. For business owners who are tenants only, the policy provides coverage for your contents. Best Buy Insurance can answer your questions about commercial property insurance and provide a free, no-obligation quote. Contact us at 289-278-4278 or visit www.bestbuyinsurance.ca.

Fleet insurance covers a fleet of vehicles. These can be registered in the name of a company, a partner or director of the company. It allows one policy to cover an entire business. There are different levels of insurance available with fleet coverage. The best coverage to have is third party liability collision and comprehensive. Third party liability is required by law to have a vehicle on the road, but it only protects the other party. Comprehensive covers a long list of ...perils, including medical and legal fees. Some fleets will have an endorsement that allows "like" vehicles to be automatically covered. Restrictions and requirements apply, but this option can be time saving for businesses that have many vehicles that change frequently throughout the year Every employee that will be driving one of the insured vehicles must be listed on the fleet policy. Failure to do so could result in the denial of a claim. It's important to keep your broker updated with relevant changes, including the number of vehicles owned and who is driving them. Notify your broker if the nature of your business changes and make sure your address and contact information on file is current. If you’re not sure whether or not you need fleet insurance, talk to a Best Buy Insurance broker first. We can help with a free, no-obligation insurance quote to protect your assets while staying within your budget. Contact us today at 289-278-4278 or visit www.bestbuyinsurance.ca.

If involved in an auto collision, when possible, the best thing to do is contact your insurance representative. They can provide helpful, on-the-spot advice on tow options, as well as repair and car rental companies. You have the right to decide who can tow your vehicle and to which location, unless otherwise directed by police. The towing company must provide an itemized invoice before receiving payment or commencing the tow, and a permission to tow form must be signed. You ...are entitled to a receipt for services rendered and have the option to pay with debit or credit card. Unless directed by your insurance rep, it's advisable to decline offers to store your vehicle in a compound yard. Never sign a blank contract or take referrals from tow companies. Details your insurance company will need to process your claim include: - Date, time and location - Name of driver of other vehicle, driver’s licence number and licence plate - Name of insurance company and policy number - Contact info - Attending police officer(s) names and badge numbers - If it’s safe, take photos at the scene with your phone Call Police If... - Someone is hurt - You think another driver may be guilty of a Criminal Code offence, such as impaired driving - You suspect you might be the victim of a staged collision - There is damage to private property If you would like to request a free, no-obligation auto insurance quote, contact Best Buy Insurance at 289-278-4278 or visit www.bestbuyinsurance.ca.

To drive in Ontario, you must secure coverage through a private insurer that meets the minimum provincial regulations. You will likely want to extend your policy beyond the mandatory coverage- your broker can help you understand and decide on the best level of protection for your needs. As of Jan 1, 2020, all Ontario drivers must carry a minimum of the following coverages: 1) Third Party Liability coverage - a minimum of $200,000 if you're at fault for someone else's losses,... although most policy holders opt for $1 to $2 million in liability coverage. 2) Accident Benefits coverage to pay for medical treatment, income replacement and other benefits if you become injured, regardless of fault. 2a) Non-earner benefit (disabled unemployed persons, full-time students, or students who completed their education less than one year before the accident and are not employed) 3) Uninsured Automobile coverage to pay for your injuries and any damage to your car if you are the victim of a hit-and-run, or if the at-fault driver has no insurance coverage. 4) Direct Compensation-Property Damage coverage to fix your car if someone else is at fault for an accident. If you would like to request a free, no-obligation personal, commercial or fleet auto insurance quote, leave it to Best Buy Insurance! We have been providing Durham Region with the "best buy" for insurance dollars since 1946! Contact us today at 289-278-4278 or visit www.bestbuyinsurance.ca.

Did you know that sewer backup and overland flood coverage aren't automatically included in home insurance policies? They are often available as optional coverage. Below are tips to help mitigate water damage to your property: Inside - Become familiar with the location of the main shut-off valve in your home - Hazardous materials stored in the basement (paint, oil, cleaning supplies) can leak and become hazardous in a flood; store them elsewhere ... - Do not store valuable/irreplaceable items in the basement - Ensure your sump pump is working properly and includes a back-up power source - Install back flow valves for drains, toilets and other basement sewer connections (check with your municipality first) - Anchor fuel tanks to the floor, as they can be prone to tipping in a flood, causing fuel to spill or catch fire - Never walk through a flooded basement if the power is on Outside - If your lot grading is uneven, try to build up the ground around your home to allow water to drain away from basement walls - Keep water out of window wells - Ensure downspouts extend a minimum of six feet from the basement wall and drain towards the street or backyard - Use a rain barrel to catch water runoff If you would like to request a free, no-obligation home or business insurance quote, leave it to Best Buy Insurance. We have been providing Durham Region with the "best buy" for insurance dollars since 1946! Contact us today at 289-278-4278 or visit www.bestbuyinsurance.ca.

As a business owner, it’s important to evaluate insurance rates from competing carriers. But there are also ways you can help keep your premium down: Minimize risk A safety training program or risk management review will help reduce the possibility of a claim.... Employees Industries with higher instances of worker injury will affect the premium, so ensure employees are categorized accurately and advise your insurance company when employees enter or leave your employ. Security Install security systems, including digital, to protect sensitive data. Outfit the company with fire sprinklers. Offer worker safety programs and driver training, if applicable. Policy Review Sit down for a detailed annual policy review with your agent. This is the time to make sure you are adequately protecting your business, while making required adjustments (up or down). Payment Payment plans cost extra money. Pay your annual fee upfront, if possible. Deductible If you increase your deductible, you will lower your premium. At Best Buy Insurance, we will match you with a broker who is well-versed in your industry. We will create a custom plan that works for you and your budget. Best Buy Insurance has been serving Durham region since 1946 and retains some of the most experienced experts in the industry. We even have a certified risk manager on staff. If you would like to discuss business insurance- big or small, contact us at 289-278-4278 or visit www.bestbuyinsurance.ca today!

Have you ever wondered how much small business insurance costs in Ontario? The answer depends on your line of business. Generally, a sole proprietorship, low-risk company can secure a liability policy for around $500 per year. This can increase by several thousand dollars, depending on services provided and risk involved. Insurance companies will evaluate the following: - Business classification (sole proprietorship, corporation, etc) - Size and location... - Goods or services offered - Number of employees - Annual revenue and salary paid - Risks involved (ie. deliveries, heavy lifting, etc) - Value of assets Liability coverage insures against things like loss from theft or damage, legal disputes and professional mistakes that cause harm or destruction. A few types of coverage available include: - Property; protects the building and its contents - Liability; protection from litigation (ie. being sued for medical bills and legal fees) - Workers' Comp; employees must be covered in the event of work related illness or injury At Best Buy Insurance, we will match you with a broker who is well-versed in your industry. We will create a custom plan that works for you and your budget. Best Buy Insurance has been serving Durham region since 1946 and retains some of the most experienced experts in the industry. We even have a certified risk manager on staff. If you would like to discuss business insurance- big or small, contact us at 289-278-4278 or visit www.bestbuyinsurance.ca.