Dusyk & Barlow is a 100% locally owned Regina Insurance Brokerage providing honest, reliable, and personalized service to all their clients. Their long-standing reputation in the community remains strong through maintaining high standards of excellence and ensuring that their client's insurance needs are met. Dusyk & Barlow is a TRUSTED REGINA INSURANCE Brokerage and in this insurance article, they answer insurance FAQs from the Regina public.

Your Insurance Questions Answered By Dusyk & Barlow Insurance Brokers 

1. Child Moving Out- What Insurance do they need? 

 When a child moves out they should get insurance for their home and belongings through Home, Tenant and Condo policies. Your insurance will provide you coverage for such things as fire, and theft. Liability is also included in these options, which will cover you in case you are sued due to negligence or cause bodily injury or property damage.

2. What is Broad Coverage?

Broad Coverage for the most part is the Cadillac coverage on the building and Pinto coverage on your contents. However, most insurance companies do offer coverage which is the opposite, so you can have the Cadillac coverage on your contents and Pinto on your dwelling. If you have broad coverage, you can insure specific belongings by scheduling them on your policy. This option is available for certain types of belongings like jewellery for example. This does require an additional premium, however, the coverage is comprehensive, and you can have a lower deductible.

3. Teenager getting in accidents with parents vehicle?

SGI brought out the Safe Driver Recognition Program many years back, it is intended to penalize the driver, not the registered owner in your case. However, if you have an auto policy, these accidents will affect the policy, as it is paying out for the damages. I always recommend that parents register the vehicle in their child’s name if they are the primary operator of that vehicle. By doing this it will not cost the parent extra on their own auto policies, as well for liability purposes.

4. What exactly is No-Fault Insurance?

The public has a common misconception of what No-Fault means. No-Fault means that as long as you have valid plate insurance, it does not matter who is at fault, regardless of whether it is a multi-vehicle accident or just one vehicle, the injured parties will be provided with some medical coverage. This coverage depends on whether you have chosen to be covered by No-Fault or Tort.

5. I am going away on vacation what should I do regarding my home Insurance?

 It depends on what time of year you go away. In the warm season, there is no requirement. However, we always recommend that you turn off your water. In the winter it is different. During this time of year, insurance companies require the following steps to be taken: you must turn off your water, have someone come in daily to check on your house or have an alarm system that monitors for low temperatures.

6. When travelling is my stuff insured? 

When you are travelling, your home, tenant or condo insurance will temporarily cover you anywhere in the world. This includes liability coverage. However, you will be subject to your policy coverage, policy limits and your deductible.

7. Scheduled Insurance for expensive items of Jewellery- worth it?  

If you have valuables it is essential that you discuss them with your insurance broker. Every insurance company has different limits and depending on the type of policy you have chosen, you could be underinsured or not insured for certain types of losses. It is a good idea to have your jewellery appraised. By doing this we can schedule your valuable jewellery on your policy for an additional premium. Scheduling your valuables will provide them with comprehensive coverage and a lower deductible, which can range from $0 and up.

There are 2 Dusyk & Barlow locations to best serve you  4615 Albert Street South and 302 University Park Drive 

Dusyk & Barlow Are TRUSTED REGINA INSURANCE EXPERTS

Finding the shortest and safest route to any of your dreams requires planning and only with a carefully thought out financial plan can you be sure to make the most of your resources and to protect against risks along the way. At Worby Wealth Management, Chris will do his best to help you achieve those dreams with a financial plan that is tailored to your specific needs and based on your individual situation.

Let TRUSTED REGINA's FINANCIAL ADVISOR Chris Worby from Worby Wealth Management help you live your dream!

RRSP vs TFSA

I get asked this question all the time – “What’s the difference between a TFSA and an RRSP? 

Difference:

• Taxation on the way into and out of these accounts
• Tax Deferred growth in both accounts 
• These are accounts, not investments Both these accounts are very similar except for how they are taxed.

On an RRSP, you get a ‘tax break,’ meaning, if you put money into an RRSP, it will be deducted from your income and you will receive the taxes you have already paid back after you do your tax return. Example. You earn $50,000 and contribute $5000 to your RRSP. Your income comes down to $45,000 but you have paid tax on $50,000. The tax paid on that $5,000 gets refunded to you. The RRSP is therefore an ‘un-taxed’ pool of money. If you take money out, you will then need to pay tax. TFSAs are different in that you do not get a tax break on the way in – in our example, your $5000 does not reduce your income. Which means your account is a ‘taxed’ pool of money and is not taxable when you withdraw it. They both benefit from tax deferred growth – meaning you don’t pay taxes on the interest, dividends or capital gains from the investment in these accounts. But how they are taxed on the way in and on the way out is the difference. And you’ll notice I never said anything about these being investments – that is because neither an RRSP nor a TFSA is an investment – they are accounts.

If you choose to put GICs, Mutual Funds, Stocks or Bonds in these accounts is up to you. But they are just that – accounts.

Which one should you do? I can only make a recommendation if I know your specific circumstances but one thing is certain – you should do one of them!

Call Chris Worby at  (306) 757-4747 ext 226  or on his Cell: (306) 737-2909. Check out his listing on the Regina Directory in the REGINA FINANCIAL SERVICES category   . Chris is a Trusted REGINA FINANCIAL EXPERT

Active Electric are Regina Electricians that get it right the first time, delivering all electrical services including installation, upgrade, and repair solutions.You can feel confident calling Active Electric and you can be assured that they will treat your property and your person with the respect and attention to safety you deserve.

CO2 Detectors

According to the Journal of the American Medical Association, 2,100 people die from unintentional carbon monoxide poisoning each year in the United States. It is the number one cause of poisoning deaths in the United States. It is colorless, tasteless, odorless and absolutely preventable.

 Is your home protected from carbon monoxide poisoning?

People who are unconscious due to inebriation or sleep can die before they ever experience the symptoms of carbon monoxide poisoning. In addition, depending upon the levels of carbon monoxide in the air you can die within minutes or hours. A carbon monoxide detector will alert you and your family when there is a risk of being poisoned.

What are the symptoms of carbon monoxide poisoning?

The initial symptoms can feel like the flu without the fever. Look for warning signs like:

• Dizziness
• Headaches
• Nausea
• Light Headedness
• Sleepiness Fatigue or Weakness
• Irregular Breathing
• Vomiting
• Shortness of Breath
• Confusion
• Chest Pain
• Food Poisoning

Monitor dangerous levels of carbon monoxide in your home with a carbon monoxide detector

Sources of carbon monoxide:

Carbon monoxide is found in many household appliances like gas ranges or stoves, gas clothes dryers, water heaters, furnaces and gas or wood fireplaces. Carbon monoxide can also be produced by fuel-burning space heaters, exhaust from cars, gas or charcoal grills, and clogged chimneys or flues. If items like these are in poorly ventilated areas, carbon monoxide can build up. Before you know it, you’re surrounded by toxic air that will poison you if you inhale.

How can I prevent carbon monoxide poisoning?

• Have CO detectors installed in your home. At a minimum, have one installed on every level of your home and outside each bedroom.
• Change the batteries in your CO detector every six to twelve months.
• Look for Underwriters’ Laboratories or the American Gas Association seal of approval when purchasing gas equipment.
• Have your gas appliances checked bi-annually
• Do not use flameless chemical heaters indoors or in enclosed spaces. They burn gas and will allow CO to build up to toxic levels.
• Have a service expert repair any gas appliance that is not functioning properly.
• Be sure to open the flue when enjoying a fire in the fireplace or furnace.
• Do not use a gas oven to heat your home.
• Do not run a generator, vehicle, or other fueled motors inside. Even if the garage door is open to the exterior CO can still build up to toxic levels.
• Only use grills outside in a well-ventilated area.
• Use battery-powered heaters when camping.
• Keep all gas appliances properly adjusted and use an exhaust fan where appropriate.
• Know the difference between the sound of your smoke alarm and your CO alarm.
• If you cannot afford a CO detector contact your local fire department. There are programs to help the elderly and the poor.
• Putting you or your family at risk of carbon monoxide poisoning is senseless.

Finding the shortest and safest route to any of your dreams requires planning and only with a carefully thought out financial plan can you be sure to make the most of your resources and to protect against risks along the way. At Worby Wealth Management, Chris will do his best to help you achieve those dreams with a financial plan that is tailored to your specific needs and based on your individual situation.

Let TRUSTED REGINA's FINANCIAL ADVISOR Chris Worby from Worby Wealth Management help you live your dream!

I have a print out that shows my retirement projections. Is there anything more I should expect from a financial plan?

Yes – absolutely!

There was a study done a while ago in operating rooms where a checklist made complication rates go down and survival rates go up.

Why? Do checklists make doctors smarter and nurses more capable of performing their tasks? No, it just reminded them of things they needed to think about in order to deal with everything they needed to deal with to make sure everything went well and according to plan. Financial plans are the same and retirement is only a portion of your financial decision making. You have current spending, banking, insurance decisions, will and estate planning – all kinds of other things that are not even on the radar of a retirement plan. And, at the end of the day, a printout will not make your retirement work – you need consistent, on-going advice to see these things through to the end. So beware of the checklistless surgeon – and financial planners!

Call Chris Worby at  (306) 757-4747 ext 226  or on his Cell: (306) 737-2909. Check out his listing on the Regina Directory in the REGINA FINANCIAL SERVICES category   . Chris is a Trusted REGINA FINANCIAL EXPERT

Finding the shortest and safest route to any of your dreams requires planning and only with a carefully thought out financial plan can you be sure to make the most of your resources and to protect against risks along the way. At Worby Wealth Management, Chris will do his best to help you achieve those dreams with a plan that is tailored to your specific needs and based on your individual situation.

How is financial planning like bicycle racing?

I follow bicycle racing pretty closely and one of the first things that surprised me was how much of a team sport it is. Every team goes into it with a strategy, there are support racers who bring water and food up to the racer they are trying to see win, these same guys cut the wind and allow the eventual winner to 'draft' off of them.

This got me thinking about financial planning. While some investors try to 'go it alone,' wise people engage the skills and knowledge of people around them. In the same way that a team will have a strategy, I have a plan with my clients based on goals and time frames that they provide. I think information is like food and water; if you have it, it will sustain you even when the going gets tough. And the more sources for these things you have the better. I notice that many times I have access to more of it than just the newspaper and business channels. And then there's drafting. If you can be behind someone with access to more information and an ability to stick to the plan, it can make the going way easier. The last thing I noticed is that when a team racer wins, everyone on that team celebrates. Sometimes you'll see someone crossing the finish line with their arms raised in victory 20, 30 places behind the leader. Then you notice their jersey and realize that a team win is for everyone.

Original Blog post by Chris Worby your Trusted Regina Wealth Management and Financial Services Expert