FAQS
- PVi does not determine rates. We are not an insurance company; we are a brokerage. We have contracts with multiple insurance companies which allows us to quote more than one insurance market for your insurance needs.
- Prices are determined by each individual insurance company.
- We try to find the best coverage available at the best rates available.
- There are several factors that affect insurance rates. The three primary ones are:
- Rising cost of natural catastrophes (Fort McMurray fire in 2016 cost 3.7 billion in insured losses)
- Low interest rates the insurance companies are receiving on their investments
- Increased claims costs, for example, advances in technology means cost of repairs are now higher. Consider a bumper that now has sensors and cameras, which did not exist before.
- The concept of insurance is simple. We each put some into the pot in the way of a premium. If someone has a loss or claim, that money comes out of that pot. When the amount coming out, exceeds the amount going in, the insurance companies will increase premiums to cover the claims costs.
- There are only two places an insurance company can get revenue:
- Premiums
- Interest from the investment of these premiums
- The shortfall of investments also causes premiums to rise
- Automobile policies are based on claims history, driving record and years of experience driving.
- Most insurance companies offer a mature owners discount on home policies. Each company will vary as to what age you are eligible and what the discount amount is.
- Home policies have a claims free discount, typically this takes effect after three years.
- Claims history is factored into auto rates, credits are applied depending on how many years you are claims free.
- With respect to home insurance, the claim remains on your record for five years, but most will allow the claims free discount at three years.
- With respect to auto insurance, the claim affects your premium for 5-8 years depending on the company. Discounts will start applying every year that you are claims free.
- We deal with all the major Canadian Insurance companies in Canada. View a full list here.
- Auto – Bill of Sale, older vehicles may require a Garage Inspection – if you are unsure, please call us
- Home – Address, Style of home (1 story, Bi-Level, Tri-Level etc.) Year, Square Footage of home and interior details such as type of flooring
- Boat/travel trailer and other recreation units – Bill of Sale showing Year, Make and Model for Boat, S/N for Motor, HP and maximum speed in MPH and Boat Trailer information
- Yes we have many payment plan options available. Please contact one of our brokers today to find out more.
- If wanting Monthly payments remember to bring either a Void Cheque or a Direct Withdrawal Form from the Bank
- Yes we sell wellhead insurance, this is commercial general liability. Please visit our commercial section for more information
- Advise your Broker of your new mailing address and provide an email address if not already on file
- You will require your Claims Experience History which your Broker will request from the Insurance Company
- Once Insurance has been placed in new Province your Alberta Auto Insurance will need to be cancelled by a signed request. Your Broker can email the Cancellation Form for signing.
