If I withdraw money from a universal life insurance policy, will I be required to pay taxes?

Yes. Your universal cash balance grows tax free while secured within your policy. When you withdraw a portion of this amount, you may be required to pay taxes and interest, depending on the amount withdrawn and the purpose of the withdrawal. Fortunately, your Ron Johnston Insurance broker can help you determine the best way to use your universal life insurance investments to your benefit, without overpaying on taxes and fees.

I purchased farm insurance; will it cover my equipment, vehicles, and plane?

Your farm insurance should cover most of the equipment on your farm. However, commercial vehicles like delivery trucks, and aviation require separate policy types. You can bundle your policies to save on premiums and get the best coverage at the best price.

Why can’t I drive my classic car as my everyday vehicle?

Classic cars, while pristine in appearance, are older vehicles and therefore have a higher risk of damage and collision. When you insure a classic car it is under the assumption that the vehicle will be used infrequently when being shown at an event or car show. If you plan to use it as an everyday vehicle, you will require a different policy type and you may pay a higher premium.

Insurance Broker in Haliburton

Home to more than 180,000 Canadians, Haliburton is recognized as a top tourist location for cottage goers and landscape lovers alike. The picturesque scenery throughout this Central Ontario county offers a variety of residential, commercial, and rental opportunities. Fortunately, Ron Johnston has an insurance product to fit every niche.

Do you live in Haliburton and are looking for a policy to protect your home, business or loved ones? Some of the insurance products we specialize in include:

Home Insurance in Haliburton

Whether buying or renting in Haliburton, home insurance is necessary to protect your property and belongings from damage, theft, and liability concerns.

Standard home insurance policies provide coverage on:

Property and structures
Unattached structures (shed, fence, deck, and more)
Belongings
Liability

When you work with an experienced insurance broker in Haliburton, you will have access to five main categories of home insurance. These are:

Homeowners – Buying a home is a big investment, so it only makes sense to protect that investment with homeowners insurance. Homeowners insurance protects your property, house, extended structures, and belongings inside your home against damage.
Tenant– Rental properties are covered to an extant by your landlord’s renters insurance. However, your individual unit and belongings are not protected under this policy. Tenant insurance keeps you from paying out of pocket should your apartment incur damage or be the victim of a robbery.
Renters– Renting a property to others leaves you open to a greater level of liability and damage risks. Renters insurance protects you against financial hardship regarding your rental property, shared common areas, belongings onsite, and liability issues which occur on your property.
Condominium– When you buy a condo, you are responsible for the unit you live in, and your belongings. However, you may also be held accountable for some of the costs to common areas if your condo corporation policy does not fully cover them. Condominium insurance offers a financial buffer against these condo claims, while simultaneously protecting your home.
Cottage– Seasonal homes like cottages and cabins come with a greater level of risk for damage and theft. Being left unattended or rented to others means you aren’t always there to ensure they are properly looked after. Cottage insurance covers you year-round, or during part of the year when you are using your cabin.

When you purchase a home insurance policy you can opt for specified perils or all peril coverage. The most common risks covered in a standard home insurance policy are:

Fire
Wind
Lightning
Explosion
Theft
Vandalism .

Auto Insurance in Haliburton

If you are a driver in Haliburton, you are required by law to carry vehicle insurance. At Ron Johnston Insurance, we help cover several styles of automobile, including:

When you purchase auto insurance, your vehicle is protected against:

Collision damage
Emergency and tow services
Medical fees
Liability
Uninsured drivers

It is important to speak to your broker about the type of vehicle you drive, as different automobiles require different levels of insurance. A classic car, for example, may only be driven part-time, and would require a unique policy compared to a family sedan.

Life Insurance in Haliburton

Life is unexpected, which is why Ron Johnston Insurance offers our Haliburton clients a wide range of life insurance products, including:

Term – A term life insurance policy may remain active over 10 -30 years and be renewed or altered as needed. These policies offer financial support to your loved ones in the event of your passing to pay for funeral costs, debt repayment, and more.

Whole Life – Whole life insurance extends over the entirety of your life and provides an accumulated cash value as you age. You may choose to leave your whole life policy to one or more beneficiaries.

Universal – Universal life insurance products are designed to fit two needs – life insurance and safe long term investing. Like a whole life policy, your universal life insurance accumulates a cash balance as it ages. As your premiums are paid each month, remaining money is sourced toward investments of your choice. This provides access to money during your life, while still offering loved ones life benefits when you pass.

Long Term Disability – Being diagnosed with a long term disability is life shattering. Fortunately, long term disability insurance protects you up until the age of retirement at 65, offering income replacement for daily life expenses, medical costs, and more.

Critical Illness – A critical illness is stressful enough without worrying about money or your loved ones. Critical illness coverage, like long term disability insurance, provides you with money to pay for medical costs and living wage while you are unable to work. Usually critical illness benefits come in one lump sum.

Commercial Insurance in Haliburton

Haliburton attracts businesses of all shapes and sizes, bringing a need for bespoke commercial insurance products. Ron Johnston Insurance specializes in several commercial policies for this reason, including:

Travel Insurance in Haliburton

Travelling outside of Haliburton? Consider Ron Johnston travel insurance before you leave the country. Your Canadian healthcare benefits only stretch so far, and if you are hurt or fall ill in another country, you may be left paying out of pocket for medical costs.

Travel insurance offers coverage on: