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7 RCMP-Recommended Strategies to Avoid Identity Theft

Identity theft and credit card fraud cost Canadians more than $1 million a day according to the Royal Canadian Mounted Police.

That staggering statistic doesn't mean you have to sit around and wait to be targeted. By taking identity fraud seriously and following the RCMP’s recommended strategies for protecting your personal information, you reduce your chances of becoming a victim of this costly crime.

UNDERSTANDING IDENTITY FRAUD

Identity fraud occurs when someone obtains another individual’s personal data or financial information and uses it fraudulently to obtain goods or services. This once-obscure crime is now a widespread problem for Canadians.

7 STRATEGIES TO PROTECT YOURSELF FROM IDENTITY THEFT

1. Always keep your credit card in sight. If your waiter or salesperson needs to walk away to run your card, go with them to make sure you are not a victim of credit card skimming. This common practice of identity thieves lifts information from the magnetic strip on the back of your credit card to use later to make purchases at your expense.

2. Never trust emails that ask for your personal or financial information - no matter how official they appear. Phishing is a frequent tactic used by identity thieves. They pretend to be your bank and prompt you to click a link to a fraudulent website and enter your information in a bogus online form. Phishing scams typically use a logo, design and URL that look close to your bank’s branding, but once you enter your information it goes directly to the thieves.

3. Protect your computer from malware. Hackers are constantly creating malicious software to infiltrate your computer and intercept passwords or credit card information you enter while online. Protect your computer by installing the latest anti-virus, anti-spyware, anti-adware programs and firewalls. Without this protection, you can unknowingly infect your computer with a virus by opening the wrong email, accessing the wrong website or downloading an infected game. Also, make it a practice to only purchase from trusted online retailers who have a secure “https” site instead of an “http”.

4. Shred trash and junk mail with personal information printed on it. Identity thieves are not above going through your garbage to get access to personal information, including that of your friends and family. An identity thief could use a discarded phone book to steal name, address and birthday information for those close to you.

5. Streamline your wallet. Only carry items you plan to use. Keep your passport, birth certificate, social insurance card and other credit cards safely stored when you are not using them.

6. Protect your PIN. Do not share your PIN with anyone and take care to shield the keypad whenever you enter it in public. Identity thieves use clever tactics to steal PINs including spy cameras.

7. Monitor your credit regularly. At least once every six months, check your credit through Equifax Canada or TransUnion Canada to make sure there is no suspicious activity. Also, carefully review your bank and credit card statements and report suspicious charges immediately.

For additional steps you can take to protect your identity, check out the RCMP’s Scams and Fraud guide.

Insurance during the course of construction. 

Building a home can be a really exciting experience. It can also be very time-consuming. You’ll have to research home builders and collect references before getting started. Then, you’ll be tied up with choosing a floorplan, selecting cabinets and picking colours. With so many decisions to make, it can be easy to overlook some of the business basics. 

For example, your builder has a business policy that protects them, their investment and risk.  However, contrary to what many people believe, it does not cover the homeowner’s investment or liability risk. 

Also referred to as a Course of Construction policy or Builder’s Risk, home construction insurance covers your property and belongings while your dream home is being built.  Along with covering the building structure and construction supplies in case of fire and other perils, it also provides liability protection. This is important because you can be sued for slips and falls or other accidents that happen on your property. Theft can also be a problem when a property is vacant. A home construction policy will cover items that have been installed in the home such as water heaters, built-in microwaves and bathroom fixtures. 

When do I need a home construction insurance coverage?

If you are working with a real estate developer who owns the land and has hired a contractor, you don’t need to worry about purchasing a policy. However, if you are the owner of the land and you actually hired the contractor, you are the one who is responsible for covering the property. 

​It’s important to clarify with your broker if you are hiring a contractor or acting as your own contractor. 
 
It’s also very important to speak to your broker before doing a major renovation to your existing home or other property, such as adding an addition, adding an attached garage, a total interior gutting or tear down/rebuild of the existing structure.  Do not assume coverage is in place.  There are exclusions during the course of construction.

How long will I need to keep my course of construction policy?

You will need coverage as long as your property is under construction.  After construction is complete, you’ll then switch to a standard homeowner’s policy. 

Don’t risk financial loss and legal issues by having no insurance coverage on your home while under construction. Be sure to contact our office before construction begins.

What is No-Fault Insurance? 

What Is No-Fault Auto Insurance?
It’s a term that can cause some confusion for people because it’s a bit of a misnomer.  In a nutshell, no-fault insurance pays the claim regardless of who is at fault.  It’s designed to speed the claims process and ensure coverage in a valid claim.
In Ontario, each driver’s insurance company pays for expenses related to their customer. For example, if you are at fault in an auto accident, your insurer pays for covered damage to your vehicle and you would pay your deductible. However, your insurer isn’t responsible for paying for damage to the other driver’s vehicle. Each insurer takes care of the claim for their insured customer.
From a consumer point of view, this may seem at first glance unfair: “Why should my insurance company pay when it’s not my fault?” Many think their rates will go up.
Years previously before no-fault Insurance was legislated in 1989, your insurance company would pay for damage to your vehicle if you have collision coverage and have an accident.  If you’re at fault in the accident, your insurer also pays for losses caused to the other party in the accident.  Unfortunately, if you were the victim, your claim could be held up in court if you were suing for compensation or had wait to be paid by the other person’s insurance company.
No-fault insurance offers a speedier claim resolution process.
In many cases, insurers collect money in the background from other insurers or even individuals in a process called subrogation. However, in most cases, the insured customer may not even know these negotiations are taking place. The insurer pays to repair the vehicle and the rest happens quietly in the background.
No-fault insurance doesn’t mean that no fault is ever assigned. Instead, it refers to who pays for the claim and creates a structure for how insurers interact. In auto claims, insurers do assign at-fault accidents which can affect your rates at renewal.
For example, if you were rear-ended and by no means had any fault in the accident, your company pays for repairs or offers a cash settlement.  Your premium does not increase due to the claim.  Not so for the person who hit you.  It will be their premium that increases (if they did not purchase the accident forgiveness) and will have an at-fault accident on their record.
So, as always, be careful out there.
 If you have questions about your coverage or haven’t reviewed your policy lately, feel free to reach out to a broker in our office.

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16 Central Avenue East Brockville ON K6V 1W4
613-342-1405 (local)  |  888-642-2201 (toll free)