Serving Delafield and Surrounding Areas
Personalized Insurance

Brian J Buchman
Phone: 262-696-4894
Cell: 262-470-2523

Located in Beautiful Delafield

P.O. Box 180541
Delafield, WI 53018
Hours
M-F: 9:00 am to 5:00 pm
Sat: By Appointment

I can be reached on my Cell phone before or after hours.

Glossary

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A

Act of God

A natural occurrence without human involvement that could not have been prevented. Examples include lightning and tornadoes.

Accident

A collision of a vehicle with any object, for example, another vehicle, a fence or post.

Accident Benefits

These are also known as statutory accident benefits. They are the benefits you may receive if you are injured in a car accident, or your family will receive if you are killed in a car accident. They include replacement for lost income, medical benefits, death benefits, and funeral expenses, to name a few. Statutory accident benefits are paid regardless of who is at fault in an accident. There are certain exclusions, for example, if someone is driving without insurance.

Actual Cash Value

The fair or reasonable cash price your property would bring in a fair market, allowing for depreciation.

Additional Living Expense

The total additional cost incurred when an insured loss requires you to live outside of your home while repairs are made. If an insured peril makes your dwelling unfit for occupancy, or you have to move out while repairs are being made, the insurer will pay any reasonable increase in living expenses, including moving expenses, so that your household can maintain its normal standard of living.

Agent

An agent is someone who sells auto insurance for a particular company and can only tell you what the rates are for that company. Usually, a company that sells its products through agents does not use the services of brokers. If you are interested in buying insurance from a company that only uses agents, you must contact an agent representing that particular company.

All Perils

This combines collision or upset and comprehensive coverages. In addition, it covers loss or damage caused if a person who lives in your home steals the car that is covered by your insurance policy. All perils also covers you if an employee who drives or uses, services or repairs that car, steals it. For example, if you take your car to a garage for repairs and an employee involved in the repair of your car steals the car, all perils will cover you (if you’ve bought the coverage).

All Risk

All risk coverage describes insurance for losses due to a wide range of causes. Instead of listing each insured peril, such as fire, lightning etc., the policy covers all loss or damage to insured property that is the result of any “risk” that is not specifically excluded.

Anti-theft Devices

An anti-theft device is something that deters a vehicle from being stolen, for example, a car alarm or a special key for the ignition. Cars with ignition cut-off systems can save up to 5% on their comprehensive premiums.

At-Fault

If you are involved in a car accident and your car is damaged, your insurance company is required, by law, to assign the percentage of fault for each of the drivers involved in the accident. This is done by using the fault determination rules, which are set out in a regulation under the Insurance Act. The rules help insurance companies deal with accident claims quickly and economically.

Auto Policy Discounts

You could pay a lower premium on your auto insurance policy if you qualify for any of the several discounts offered by TW Insurance Brokers, i.e. anti-theft device, driver training, student away at school, multi-vehicle, multi-line and preferred driver discounts. Visit the auto insurance discounts link for more information.

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B

Bodily Injury Liability

An important type of liability coverage, bodily injury will pay damages awarded if you are held legally responsible for injury or death caused by a vehicle driven by you or by a covered family member.

Broad Form

Broad form is insurance coverage that protects you from all risks to the building and named perils only to the contents.

Broker

An insurance professional who searches the marketplace on your behalf to find the insurance coverage that’s best for you. A broker usually sells insurance for a number of different insurance companies, and can give you quotes for each of those companies. A broker must provide you with the names of all of the insurance companies for which he or she sells insurance, and all of the quotes he or she has calculated for you. If you want this information in writing, the broker must provide it to you.

Burglary Insurance

Burglary insurance is insurance covering property damage and financial losses resulting from property theft from within either the household premises or automobile and caused by someone entering by force. The theft must be reported to the authorities.

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C

Canadian Loss Experience Automobile Rating (CLEAR)

CLEAR is a rating system that groups cars based on their claims experience, such as the cost of repairs and injury claims, as well as how often they’re stolen or involved in an accident. Your premium may vary depending on whether or not your insurer uses CLEAR. For example, if your car’s repair costs, based on the history of the cost of repairs to the make and model of your car, are fairly economical, then an insurer that uses CLEAR might be able to give you a lower rate. As of June 1998, 82 percent of insurance companies used the CLEAR system.

Certificate of Insurance

A document listing your coverages, which includes the name of the insurer, the policy period and the limitations of coverage.

Chargeable Loss

If you are involved in a car accident and your car is damaged, your insurance company is required, by law, to assign the percentage of fault for each of the drivers involved in the accident. This is done by using the fault determination rules, which are set out in a regulation under the Insurance Act. The rules help insurance companies deal with accident claims quickly and economically.

Claim

Your notification to us for reimbursement due to a loss from an insured peril.

Collision or Upset Coverage

This coverage pays for losses caused when an insured car is involved in a collision with another object, including another car, or rolls over.

Combination Furnace

A furnace, which can burn more than one type of fuel.

Comprehensive Coverage

This coverage pays for losses, other than those covered by collision or upset, including perils listed under specified perils (see definition for specified perils), falling or flying objects, missiles and vandalism.

Comprehensive Form

Insurance coverage that protects the policyholder from all risks to the building and contents except for those, which are specifically excluded.

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D

Declarations Page

The declarations page tells you who and/or what is covered by the insurance, the amount of coverage purchased and the conditions-the “when” and “where” covered by the purchased insurance.

Deductible

The amount of a loss the insured is responsible to pay. For example, if vandals cause $1,000 worth of damage to your car and you have a $300 deductible on your comprehensive coverage, then your insurance company will only pay for damages over the $300, i.e., $700. You will be responsible for the first $300. You can choose to have higher deductibles, but you may not always be able to get a lower deductible. Increasing your deductible could decrease your insurance premiums. This is because if you have a loss, you contribute a higher amount toward the cost of repairing your home or car.

Depreciation

The actual or accounting recognition of the decrease in value of your hard assets over a period of time, according to a predetermined schedule.

Direct Compensation-Property Damage (DC-PD)

This covers you if another car causes damage to your car and its contents. It is called direct compensation because even though someone else causes the damage, you collect directly from your own insurer. If you’re not at fault, you may claim under the DC-PD portion of your policy. Check with your broker or agent for more information.

Driving Convictions

These are any offences under the Highway Traffic Act or the Criminal Code of Canada. They include but are not limited to, careless driving, criminal negligence, impaired driving, speeding, not wearing a seatbelt, following too closely, and improper passing. If you have one or more driving convictions, your insurance premium will likely increase, depending on how serious the offence is.

Driving Record

Your driving record is your driving history. It includes any accidents or driving convictions. It also includes the number of years you have been licensed to drive. Your insurance rates are based on, among other factors; the quality of your driving history — a good record can mean lower rates!

Dwelling Building

Premises occupied as a private residence.

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E

Endorsement

A written agreement attached to your insurance policy, which adds or subtracts insurance coverages. This attachment takes precedence over the provisions in your original policy.

Exclusion

Specified loss or damage for which there is no coverage on your insurance policy.

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F

Fault Determination Rules

Fault determination rules are used to determine fault in an accident. The rules are set out in a regulation under the Insurance Act and help insurance companies to deal with accident claims quickly and economically.

Fire and Extended Coverages

Insurance coverage that protects the policyholder from specific perils to the building and contents. Fire and extended coverage is how seasonal dwellings are commonly insured. (Burglary and vandalism coverage may be included for an additional premium.) The perils covered in a fire and extended coverages policy are:
- Fire and lightning
- Explosion
- Smoke
- Falling objects
- Impact by aircraft or land vehicles
- Riot
- Water escape, rupture or freezing
- Windstorm or hail

Fire Insurance

Insurance against loss caused by a fire including damage from lightning and explosion of specified gases.

Floater

An addition to the homeowner’s policy to provide extra coverage for listed items. Examples include jewellery, furs, stamp and coin collections, bicycles and cameras.

Fungi

Fungi refers to, but is not limited to, any form or type of mould, yeast, mushroom or mildew whether or not allergenic, pathogenic or toxigenic, and any substance, vapour or gas produced by, emitted from or arising out of any fungi or spore(s) or resultant mycotoxins, allergens or pathogens.

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G

Guaranteed Replacement Cost

The insurance company pays the cost of repairs or replacement even if the cost to rebuild or replace your home exceeds the insured amount shown on the insurance policy (subject to terms and conditions of policy wording).

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H

Heat Source — Non-Standard

Space heaters (any fuel), wood or coal burning stoves and furnaces, fireplace inserts, combination units and kerosene heaters. Note: All units must be CSA, ULC or Warnock-Hersey approved.

Heat Source — Standard

Hot water, steam or forced air, fuelled by natural gas, propane or oil with furnace installed on concrete floor. A public utilities commission approved electric heating system.

Homeowner’s Policy

A policy designed to cover the various risks of a homeowner in one policy.

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I

Indemnity

Compensation for your loss. Indemnity will put you in the same financial position as immediately prior to the loss.

Insurer

The party in an insurance contract that agrees to reimburse the insured if a specified loss occurs. Usually an insurance company.

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J

Jewellery Coverage (Scheduled)

Worldwide coverage on your jewellery or precious stones on an all risk basis at any location. Each item must be specifically identified in the policy. This extends the jewellery coverage under your homeowner’s insurance.

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N

Named Peril

Named peril coverage describes insurance coverage for loss or damage caused by:
- Fire or lightning
- Explosion
- Smoke
- Falling object
- Impact by aircraft or land vehicle
- Riot
- Vandalism or malicious acts
- Water escape, rupture, freezing
- Windstorm or hail
- Transportation
- Theft, including damage caused by attempted theft
- Collapse of building
- Electricity
- Fuel oil escape

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O

Outbuildings

Other private buildings located on the same property as your residence. For example, a pool house.

Ownership

The auto policy covers cars owned by an individual, or a husband and wife residing in the same household. These requirements exclude coverage for cars owned by businesses or groups of people.

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P

Personal Property

Contents of your dwelling and other personal property you own, wear or use while on your premises which is usual to the ownership or maintenance of a dwelling.

Policy

A written document that serves as your proof of an insurance contract. The document contains the relevant facts about the policyholder, the insurance coverage, the insured and the insurer.

Premium

The amount you pay to the insurer for insurance coverage for a specified policy term.

Principal Dwelling

A dwelling that is occupied year round and is not vacant for more than 30 days.

Private Passenger Automobile

This refers to a car that is operated by an individual or a family for personal use, and not for commercial purposes, such as a taxi or delivery service.

Property Damage

An insurance policy will pay for damage caused to your property or the property of others as a result of covered peril.

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R

Replacement Cost

The amount required to replace your damaged property with one of like kind and quality without deduction for depreciation to the limits of the policy.

Residence Dwellings (Rented Homes)

We must insure your primary residence (homeowners, condominium owners or tenants’ package) to insure a rented home. A rented home is insured for fire and extended coverages. The building and contents that belong to you can be covered. Liability is extended from your primary residence. The property of tenants is not covered in a fire and extended coverages policy, tenants should purchase their own tenants insurance policy.

Risk

The person or object to be covered by insurance.

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S

Scheduled Articles

An addition to a homeowner’s policy to provide extra coverage for listed items. Examples include jewellery, furs, stamp and coin collections, bicycles and cameras.

Seasonal Dwelling

Generally, a dwelling occupied by the insured for a portion of the year only. If a second dwelling that you own and use periodically, is used year round see secondary dwelling.

Seasonal Residence

Homeowners We must insure your primary residence (homeowners, condominium owners or tenants package) to insure a seasonal residence homeowners. If your seasonal residence is built on a permanent masonry foundation or concrete pad and is 25 years old or less, fully winterized with access by a responding fire department by means of public road kept open 12 months of the year, valued at $40,000 or more and is unoccupied for more than 60 consecutive days it may qualify for our Seasonal Homeowners package. This package includes coverage for your seasonal dwelling, outbuildings, and your contents. Coverage is offered on a broad form basis, which includes burglary and vandalism as well as guaranteed replacement cost on the building. Liability is extended from your primary residence. Secondary Dwelling Generally, a dwelling that is not unoccupied for more than 60 consecutive days at any one time in the course of any one year.

Secondary Residences

We must insure your primary residence (homeowners, condominium owners or tenants’ package) to insure a secondary residence. If your secondary residence is built on a permanent masonry foundation or concrete pad and is 25 years old or less, fully winterized with access by a responding fire department by means of public road kept open 12 months of the year, valued at $60,000 or more and is not unoccupied for more than 60 consecutive days, it may qualify for our secondary residence package. This package includes coverage for your secondary dwelling, outbuildings and your contents. Coverage is offered on a broad form basis, which includes burglary and vandalism as well as guaranteed replacement cost on the building. Liability is extended from your primary residence.

Sewer Back-up / Water Escape Coverage

An additional coverage you may add to your home insurance policy to protect against direct loss or damage caused by water entering the insured dwelling as a result of accidental escape of water from a sewer, storm drain, drain, sump, septic tank, eaves trough or downspout.

Specified Perils

This coverage pays for losses caused by one of the following: fire, theft or attempted theft, lightning, windstorm, hail or rising water, earthquake, explosion, riot or civil disturbance, falling or forced landing of aircraft or parts of aircraft, or the stranding, sinking, burning, derailment or collision of any kind of transport in or upon which an insured car is being carried on land or water.

Spore(s)

Spore(s) refers to, but is not limited to, any reproductive particle or microscopic fragment produced by, emitted from or arising out of any fungi.

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T

Terrorism

Terrorism means an ideologically motivated unlawful act or acts, including but not limited to the use of violence or force or threat of violence or force committed by or on behalf of any group(s), organization(s) or government(s) for the purpose of influencing any government and/or instilling fear in the public or a section of the public.

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U

Underwriting

The process of reviewing, accepting or rejecting insurance risks. Accepted risks are categorized so the appropriate premium can be charged.

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V

Vacant

Vacant means that all occupants have moved out with no intention of returning regardless of the presence of furnishings or in the case of a newly constructed house, no occupant has yet taken up residence.

VIN (Vehicle Identification Number)

This is a 17-character number that is unique to each vehicle and identifies characteristics of the vehicle such as year, make, model and engine specifics. The VIN is usually located on the driver’s side of the dashboard.

Voluntary Medical Payments

A limited payment that will be made, at the request of the named insured, for medical needs of a person (other than the insured) without the need to prove legal responsibility.

Voluntary Property Damage

A limited payment that will be made, at the request of the named insured, for repair / replacement of property (other than the insured’s) without the need to prove legal responsibility.

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