Your personal possessions represent your family's security and if they were destroyed, you would need to come up with the money to replace them. Insurance protects you against financial loss and gives you peace of mind.
The cost of insurance varies from company to company and is determined by the company's claims history and the underwriting variables unique to your "risk". Ask your AXA broker or advisor to obtain quotes on your behalf, but remember that the best quote isn’t always the cheapest.
There is a significant difference between purchasing your insurance through an independent insurance broker or advisor purchasing it directly from a captive agent or salesperson of a bank or insurance company. Rather than being "sold" the one product line offered by the direct channel, an independent broker or advisor represents many quality insurers. By marketing your insurance requirements to many companies and by comparing products and prices, an independent broker or advisor can tailor an insurance program that delivers the best value for you. You get professional expertise, personal attention and the benefits of choice. Your best insurance is an AXA broker or advisor.
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To answer this question, the Insurance Bureau of Canada has produced an "Insurance 101" brochure, which explains why the insurance industry has had to increase its rates. You will require Adobe Acrobat to read the brochure. Click here to download Acrobat free of charge.
There is no doubt about it: drivers who have no convictions or claims for at least ten years receive the best rates.
Ask an AXA broker or advisor about your best rating plan.
Newly licensed drivers who have taken a recognized driver training course may be credited with a three-year safe driving record for insurance rating purposes. This will save you money, not to mention teach you defensive driving skills.
Yes. A premium saving is available to AXA policyholders who choose a higher deductible on collision, comprehensive, specified perils or all perils coverage. Higher deductibles, combined with a claim-free standing, can result in substantial savings.
Giving a ride to someone in return for a ride, or sharing the cost of an occasional trip with others, is covered under your basic policy. However, if you regularly receive compensation for giving a ride to a co-worker, special coverage must be arranged. Your AXA broker or advisor can explain.
Yes, the automobile policy for each province is designed to provide standardized coverage for motorists. To some extent, this coverage is regulated by each provincial government. However, the difference comes in the policy rating, optional protections and, most importantly, the claims service you receive.
Yes, there are many optional protections, such as increased liability, all perils, collision, comprehensive and specified perils coverage that protect you against a variety of losses. There are also several optional endorsements like rental vehicle coverage, in the event your car is damaged by an insured peril. Your AXA broker or advisor can help you enhance the basic policy to suit your individual needs.
To make a claim, simply call your broker or advisor, who will report it to AXA. If it is after business hours and an emergency, feel free to contact our Emergency Claims Hotline at 1 800 268-8865.
Yes, it’s important to know what you are insured for. Since not every event is covered by insurance, it’s also critical to be aware of any policy exclusions. Your AXA Broker or Advisor can help you review the policy and answer any questions you may have.
You need collision coverage to pay for damages to your vehicle if it is destroyed, damaged by collision with another object (e.g. a telephone pole), or if you are partially or fully responsible for an accident occurring within or outside your province.
If you own an automobile in Canada, your automobile policy covers you for incidents occurring in Canada and the United States. Your policy will not cover you in Mexico, Central America or any other country.
An optional extension of coverage is available for cars you rent within Canada or the United States. An AXA broker or advisor can arrange this important coverage for you.
Monthly Pay Plan (E.F.T.- Electronic Funds Transfer)
Note: A checking account is required to process automatic E.F.Ts.
Please contact your AXA broker or advisor for details.
You may advise us of your desire to change at any time during the policy term. However, your request will be processed on your next renewal date.
A number of factors affect your auto rate, including:
The main factor affecting the insurance premium is, of course, the driver's experience. Careful drivers pay lower insurance premiums.
You can also reduce your insurance premiums by equipping your vehicle with a security system. If your vehicle doesn't have one, check out our Prevention Plus® Program.
Increasing your deductibles will also help bring down your insurance premium.
Your AXA broker or advisor will be happy to explain the rates that apply to you.
Collision coverage compensates you for damages to your vehicle if you are in an "at fault" accident. Depending on your vehicle's age and residual value, you may opt to forego this coverage to reduce your premium. Your AXA broker or advisor can help you decide if you need it.
A number of factors affect your home rate, including:
To be adequately covered in the event of a loss, you should take an inventory of your belongings. An AXA broker or advisor can advise you in this regard.
The amount of coverage you take out should correspond to what it would cost to rebuild your home. Your AXA broker or advisor will help you determine the reconstruction cost, based on the specifications of your house (size, number of storeys, type of heating system, materials, etc.).
If in life you’ve been spared from sickness or an accident, then count yourself lucky. But keep in mind that you cannot predict what the future holds for you.
Disability insurance is as crucial as life insurance since you are more likely to become disabled than you are to die prematurely (source: Canadian Life and Health Insurance Association).
AXA’s Individual Disability Plan offers 365/24/7 coverage in case of an accident or an illness. Individual Disability Plan includes a wide range of benefits:
- Disability due to Accident Benefit;
- Disability due to Illness Benefit;
- Business Overhead Expense Benefit (Accident);
- Business Overhead Expense Benefit (Illness);
- Hospital Allowance due to Accident
- Hospital Allowance due to Illness
- Critical Illness Benefit;
- Accidental Death and Dismemberment Benefit;
- Benefit in case of fracture
As you can see, Individual Disability Plan provides much more than just a disability benefit. It also offers business overhead expense coverage. The insureds and their beneficiaries can use other benefits according to their needs.
This benefit covers a company’s fixed expenses (regular offices expenditures) and allows the continuation of business operations for a defined period of time.
You could receive benefits for a disability due to an accident or an illness of up to $3,500 per month.
Disability coverage ends at age 65.
A 20-year-old male is about three times as likely to become disabled for 90 days or more than to die before age 65. For a 35-year-old woman, the odds are 7 to 1!
Partial disability is defined based on tasks performed by the insured and/or time (number of hours worked), whereas residual disability is defined based on an insured’s loss of income. The purpose of both of these provisions is to help individuals suffering from a disability to return to work, without totally depriving them of benefits.
Everyone can benefit from Critical Illness insurance. Statistically, you’re unfortunately more likely to suffer from a critical illness than you are to die before the age of 75. And, in most cases, people don’t realize how a critical illness can affect your estate or your family life until it’s too late. That’s why most people should consider taking out this type of benefit.
Thanks to Critical Illness benefit, you can protect your lifestyle and lessen your financial worries.
Your benefit could allow you to:
- Have access to the best medical treatment in Canada or abroad;
- Protect your estate (RRSP, loan, mortgage payments, etc.);
- Enable a parent or spouse to take time off work to care for a sick child or spouse;
- Have your home refitted or obtain special equipment as a result of an illness;
- Hire home caregiver to help with household chores or care for children;
- For business owners: compensate for the loss of an employee;
- Take an unpaid leave of absence to recover.
As you can see, you can use the benefit as you’d like based on your own priorities.
AXA lets you choose between Critical Illness Protection which covers three illnesses:
- Cancer (life-threatening)
- Heart attack
- Stroke (cerebrovascular accident)
or Critical Illness Protection Enhanced which covers up to 28 illnesses:
- Alzheimer’s disease
- Aortic surgery
- Aplastic anemia
- Autism
- Bacterial meningitis
- Benign brain tumour
- Blindness
- Cancer (life-threatening)
- Coma
- Coronary artery bypass surgery
- Cystic fibrosis
- Deafness
- Heart attack
- Heart valve replacement
- Kidney failure
- Loss of independent existence
- Loss of limbs
- Loss of speech
- Major organ failure on waiting list
- Major organ transplant
- Motor neuron disease
- Multiple sclerosis
- Muscular dystrophy
- Occupational HIV infection
- Paralysis
- Parkinson’s disease
- Severe burns
- Stroke (cerebrovascular accident)
The three illnesses representing nearly 85% of all claims consist of:
- Cancer
- Heart attacks
- Strokes
In Canada, one in three women and two in five men will develop some form of cancer during their lifetime (source: www.cancer.ca – Canadian Cancer Statistics 2006).
In order to receive benefits for a loss of independence, insureds must be totally and permanently unable to perform, by themselves, at least two of the following six activities of daily living:
1. feeding;
2. dressing;
3. bladder and bowel continence;
4. transferring;
5. bathing;
6. toileting;
or suffer from cognitive impairment.
Cognitive impairment means a mental deterioration and loss of intellectual ability, evidenced by deterioration in memory, orientation and reasoning, which are measurable and result from demonstrable organic cause as diagnosed by a specialist. The degree of cognitive impairment must be sufficiently severe as to require a minimum of eight (8) hours of daily supervision.
In the case of disability insurance, insureds receive a certain percentage of their salary so that they can maintain their lifestyle during the period when they are unable to work.
In the case of Critical Illness insurance, insureds receive a tax-free payment after they have been diagnosed with a critical illness.