42 — Wednesday, November 1, 1989 - North Shore News ' BuSINESS Ensure you have the right insurance IF YOU are going to have any insurance on your home and/or possessions, you might as well have the right in- surance. Unfortunately, too often we discover we weren’t covered for something only when we make a claim — and then are angry and dollars and sense Michael Grenby Ee frustrated when we can’t collect. So spend a few minutes now reviewing your home insurance PERSONAL PHOTO INVENTORY SPECIALISTS| We photograph and thoroughy document everything you vatue. In- side, outside, and close-ups. Fully bonded. WATCHDOG PHOTOLOGUE Service to Vanceuver & North Shore 538-2113 white Rock policy. And if the small print baf- fles you, call your agent to ask about any of the following points that apply to you. You might even find you qualify for a discount you aren’t claiming. “All companies offer a senior citizen discount, and some com- panies even offer a ‘mature citizen’ discount at age 50 or 55," said Brenda Borri, personal lines man- ager for Oakridge Insurance Agencies Ltd. “Some companies offer a dis- count if you have a new home. One company has a discount for Block Watch neighborhcods."’ Cheapest isn’t always best. You certainly want a policy with a competitive premium. But you also want a company in a sound finan- cial position, and one which takes a reasonable attitude when a claim is made — perhaps even allowing the agent to settle claims up to a certain amount. So when you ask your agent to shop around for the best deal, ask about service as well as price. Once you find a good company, plan to stay with it as long as rates and service remain competitive. G.LC. HOTLINE 7 683-0893 (24 nis.) 1 CAN HELP You can expect better service from a company if you have been a cus- tomer for a while than if you have a history of never staying with one company for more than a year or two. Obviously, you should make sure the coverage you carry would indeed replace home and posses- sions at today’s replacement costs. “‘Most companies now include a guaranteed replacement cost en- dorsement,’’ Borri said. ‘‘But there could be stipulations. For example, perhaps you must advise your agent if you make improve- raents exceeding $5,000. “So if you have finished part or ali of a previously unfinished area, added a sundeck, turned a carport into a garage (or spare room) and so on, check with your agent.”” Borri said all poficies contain limitations and exclusions, which vary from company to company. She warned you could jeopardize a claim if you haven’t advised your agent that you: © Rented out a room or suite. ¢ Installed a satellite dish. © Installed a woodburning stove or fireplace insert. © Operate a day care or other business as a sideline in your home. “All policies contain limits on items like jewelry, furs, money, coins and stamp collections,’ Borri said. ‘‘Some policies have limits on bicycles, silverware and computer hardware and soft- ware.”’ Find out whether the values of those possessions fall within the limits. If coverage is not adequate, ask what it would cost to increase the limit. Sometimes it’s worth paying the extra premium, some- times you might decide it’s not. But at least make that a conscious decision. Also decide whether you should have earthquake coverage and coverage for backup of sewer and drains. “Once you get a policy, don’t put it away and never check it again,”’ said Borri. ‘‘[t’s only pru- dent to review your coverage and options annually.”’ And you must take the initiative. If you simply send in a cheque every time you get a renewal notice, you probably won't hear from the insurance agent. I encourage people to invite the agent around for a cup of coffee every five years or so, and more frequently if there have been major additions to home or possessions or other changes. Based locally, Mike Grenby writes a money column which ap- pears in newspapers across Canada. Mike will respond to readers’ questions and story ideas through the paper. Write to Mike Grenby, Money Columnist, North Shore News, 1139 Lonsdale, North Vancouver V7M 2H4. Mike cannot reply in- dividually but will answer as many of your letters as possible in his column. {'m an Investors professional financial planner. It's my job to help you create and follow a personal financial plan. I can help with: investment Funds « Guaranteed Investment Certificates @ R.RS.P.s o Estate Planning Life and Disability Insurance Anquities & RBLF ‘JEFF ARNOLD 682-5431 GWESCLOWU. PROFIT FROM OUR EXPERIENCE Shopping for a new car? Looking for same furniture or appliances? Whatever you have in mind, we can help you make it happen. VanCity can pre-arrange your Prime +1% variable rate loan from $5,000*, then you can go shopping and get the best deal on a cash basis. THE CORPORATION OF THE CITY OF NORTH VANCOUVER VanCity makes it easy for you to pay off your existing loans or charge accounts with VanCity's Prime +1'%, variable rate personal loan, guaranteed for up to 5 years. You're a good deal ahead at Prime +1'%. Qualifying is fast. Just complete a Quick Loan form and we'll give you an answer, usually within 24 hours. PARKING POLICY A PUBLIC INFORMATION MEETING will be held TUESDAY, NOVEMBER 7TH, 1989 at North Vancouver City Hall, 141 West 14th Street at 7:00 p.m. Busy days? Arrange your juan over the phone. Call VanCity’s TeleService at 877-7000. Monday ~ Friday 8 am - 8 pm, and Saturday 8am - 4 pm. Oller applies io new funds only, Minimums $5,000. Youpelag™ The purpose of the meeting is to discuss the “Report on Parking Policy — Apri! 1989": The focus of the report is provision of park- ing in the commercial/business core. Copies of the report are available at the City Clerk's Department at a cost of $5.00 each. For further iniormation contact Mr. A. Derwyn Owen, Director, Purchasing & Property Services, 985-7761, Local 307. . th us. ai, 22 Branches throughout the Lower Mainland. A. Derwyn Owen, Director Purchasing & Property Services