Dear Policyholder Members,

The provincial Stay at Home Order has been extended into June and we will continue to operate under our pandemic protocols. Please contact your agent or broker via telephone or email for the safest service possible. We really appreciate your patience and co-operation.

Everyone may be aware that the increased demand for building supplies has created shortages and significantly increased cost of materials.

Many members have been proactive by contacting their agent or broker to increase the insurance limit on their building(s); we commend those who have done so. If this is something you have not yet completed, it is something to consider.

Although our agents and brokers do have tools to help calculate the amount of insurance coverage required, they are not building appraisers. These calculations do not necessarily demonstrate an actual cost to rebuild.

In a common law society, owners of tangible items have a responsibility of safeguarding them and knowing their value. All we can recommend is that you carry the amount of insurance you feel comfortable with. If you have any questions about rebuilding costs or want to increase your insurance limits, please contact your agent or broker.

A bit more 150^th Anniversary trivia: In the early days of mutual insurance, the maximum amount of coverage available on a building was limited to 50% of its value. That meant the policyholder was automatically a “co-insurer” having to come up with the other 50% on their own. In those days, if there was a loss by fire, the insurance money would pay for the building materials. Neighbours would then gather and pitch in to help with a barn raising – how so much has changed!

We know this time is stressful and challenging for everyone and we thank you for your continued support.

Sincerely,

Frank Rider, CIP

President