Frequently asked questions
Have a question about your plan or coverage? You’ll find the answers here.
Personal insurance
Motor insurance
Optional overseas rental car coverage is available for comprehensive motor insurance policyholders. This optional coverage, called a Collision Damage Waiver extension, protects your legal liability for damage, theft, or loss of use of the rental vehicle.
This option is often more affordable than purchasing insurance directly from the rental company. Please note that this coverage does not include third-party liability, which we recommend arranging through the rental provider. Am I covered to drive a rental car overseas
Your motor insurance policy only covers the vehicle listed on your policy, which must be registered in your name with the Transport Control Department (TCD).
If you're driving someone else's car or motorbike, you'll typically be covered under their policy, as long as:
- You have a valid Bermuda driver's licence
- You have the owner's permission to drive the vehicle
If you're renting a car overseas, you'll need a comprehensive car insurance policy with a Collision Damage Waiver extension to protect against accidental theft or damage to a rental vehicle while it's in your possession. Learn more about protecting yourself when renting a vehicle overseas.
Young drivers don't need different coverage than older drivers, but age may affect:
- Insurance deductibles (which are typically higher for younger drivers)
- Insurance premiums, which are based in part on driving history, years licensed, and any accidents or convictions in the past five years
For added protection for your young driver, you can add 24/7 roadside assistance to their Allshores motor insurance policy. Call us at 1-441-298-0888 to sign up.
Typically, you don’t need to formally add another driver to your policy, unless your policy states that only named drivers are allowed to drive your vehicle. If your policy permits it, anyone with a valid Bermuda driver’s licence may drive your vehicle or motor bike if they have your permission.
Home insurance
Your sum insured should represent the full cost to rebuild or replace your home or contents in the event of a total loss.
It’s important to keep this amount up to date to keep up with inflation and rising construction costs. If you’d like help reviewing or adjusting your coverage or sum insured, please call us at 1-441-298-0888.
Home insurance covers more than just your house. It also includes coverage for:
- Outbuildings
- Swimming pools
- Tennis courts
- Walls, gates, fences, and driveways
Your sum insured should reflect the full reconstruction cost of your home, including features like a pool. A hot tub must be specifically listed on your policy.
No — and there is likely a significant difference between your home’s replacement cost and its market value.
Replacement cost is the amount it would cost to rebuild your home from the ground up, including materials and labour, in the event of a total loss.
Market value is the amount a buyer might pay for your existing home, factoring in location and demand — it doesn’t consider how much it would cost to build the same home with today’s material and labour costs.
When it comes to insurance, your sum insured should be based on replacement cost, not market value.
Yes. Home insurance covers damage caused by hurricanes, subject to the terms and limits in your policy, unless hurricane coverage has been specifically excluded.
Yes. Home and contents insurance cover flood-related damage to your buildings and contents, subject to the terms and limits in your policies. Under your contents coverage, this can also include replacing fresh water in your home’s water tank if it becomes contaminated by saltwater during a storm or flood.
Marine insurance
Yes. To purchase or renew a marine insurance policy, you’ll need proof that your mooring has been professionally inspected within the last 12 months and found to be safe and suitable for your vessel.
Vessels 20 years or older require a professional marine survey to help determine the appropriate level of coverage you will need in your personal marine insurance policy.
Comprehensive marine insurance can cover weather-related damage to your boat, including damage from hurricanes and windstorms. Coverage depends on your policy terms and where your vessel is moored, as some locations may be excluded.
We recommend carefully reviewing your policy or speaking with our team to make sure you understand what’s covered before a storm hits.
Travel insurance
Yes. If you’ve selected trip cancellation coverage, cruise cancellations are covered, subject to the terms in your policy. Coverage begins on the day you purchase your policy and ends when you return to Bermuda.
If you have selected personal property coverage with your travel insurance policy, it would cover the cost of replacing travel documents such as passports, visas, and tickets, subject to policy terms.
Trip cancellation coverage only applies in specific situations, such as:
- Death, illness, or injury of the traveler or a close relative
- Jury duty
- Major damage or a break-in at your home
Electronics such as laptops, mobile phones, and cameras are covered under the personal property section of your travel insurance policy. There is a single-item limit of $1,000, and any item valued above this amount must be specifically listed on your policy.
Commercial insurance
Commercial vehicle insurance
In a commercial vehicle insurance policy, third-party liability coverage helps protect you if you’re held legally responsible for injuries to passengers or other third parties, or for damage to someone else’s property. This coverage can also help pay for legal costs, with your insurer’s approval.
It’s important to note that third-party liability insurance does not cover damage to your own vehicle. It’s designed to protect you from claims made by others, not to repair or replace your car.
No, you do not need a commercial vehicle insurance policy if you use your personal vehicle for business travel or deliveries. Your personal motor insurance policy covers losses related to your use of the vehicle, even if you are using it for business.
Commercial marine insurance
With commercial marine insurance, your business vessels can be covered for damage caused by a range of risks, including:
- Accidental grounding
- Collision
- Severe weather
- Fire
- Theft
- Sinking
Coverage can also include the cost of inspecting the vessel's hull after stranding and salvage costs following a sinking.
Standard deductibles apply for certain types of damage, such as weather-related losses, sinking, and grounding. Deductibles are typically higher during named storms.
Vessels 20 years or older require a professional marine survey to help determine the appropriate level of coverage you will need in your commercial marine insurance policy.
Commercial package policy
Yes. Most public liability insurance policies include a deductible for claims involving damage to third-party property. However, there is typically no deductible for claims involving third-party bodily injury or death.
The property damage deductible can sometimes be negotiated, depending on the nature of your business and your appetite for risk. Our team can help you choose a deductible that balances protection with affordability.
For employers seeking workers' compensation insurance, we currently offer:
- Standard workers' compensation insurance benefits
- Enhanced wages coverage
- World-wide coverage
- Employers' liability up to $5,000,000
- Coverage for volunteers, temporary workers under 16, casual workers, part-time employees, and students
Under the Workers’ Compensation Act of 1965, most businesses operating in Bermuda are legally responsible for workplace injuries suffered by their employees. While businesses are not legally required to have workers’ compensation insurance, it is strongly recommended, as any employer without coverage may face serious legal and financial consequences if an employee is injured at work. Coverage needs can vary depending on the nature of your business, so we work with you to tailor your coverage and help ensure you’re properly protected.
Yes. Public liability insurance helps protect your business if you’re held legally responsible for accidental injuries to a third party or damage to someone else’s property. Public liability insurance covers your legal exposure to the public, including court-awarded damages and legal defence costs. Coverage can also be extended to include risks associated with producing or selling goods or products, such as meals, beverages, groceries, or skincare products.
If a member of the public is injured or killed because of your business activities or your employees’ negligence, public liability insurance can help protect your business. This coverage can pay for court-awarded damages, as well as the legal costs of your defence if a claim or lawsuit arises.
If an employee is injured while performing their job, coverage may be provided under workers’ compensation. In some cases, an employee may choose to waive workers’ compensation and pursue a negligence claim instead. If that happens, your policy can provide up to $5,000,000 in employers’ liability coverage.
Your policy may provide temporary automatic coverage for up to 30 days for certain changes to your business, including:
- New buildings or structures being constructed on your business premises
- New contents added to your business premises
- Buildings or contents you acquire at another location in Bermuda
These additions, along with any new business activities, are treated as separate risks and may require special consideration. Changes like these can affect premiums, deductibles, coverage limits, or exclusions.
It's always best to contact our team as soon as you make a change in your business. We'll help make sure your coverage is updated and that you remain properly protected as your operations grow.
Yes. Equipment used for business, such as laptops and cell phones, can be covered for physical damage under the contents section of a commercial package policy.
If the sum insured in your commercial insurance policy is lower than the true replacement cost of your property at the time of a loss, your claim may be reduced proportionately. For example, if your property is insured for 75% of its true replacement cost, your claim would typically be settled at 75% of the total loss, less any applicable deductibles.
If the sum insured is higher than the actual replacement cost, your claim will be settled based on the correct replacement value. Your policy will be adjusted going forward to reflect the accurate replacement cost.
This is why it’s important to review your insured values regularly, especially as construction costs and asset values change. Our team can help you assess whether your coverage still reflects today’s replacement costs.
Commercial buildings and property are typically insured based on replacement cost, not market value. That’s because insurance covers the cost to rebuild or replace your business buildings and property, not the land itself.
Replacement cost is usually calculated by taking the exterior square footage of the building and applying current construction costs per square foot.
Additional amounts (generally 15% of the sum insured) are often included to account for expenses such as architect and surveyor fees, as well as debris removal after a loss.
Construction costs and business assets can change over time, so you should review your insured values annually. Keeping your coverage up to date helps ensure you’re properly protected if you ever need to make a claim.
In most cases, yes. Home insurance and commercial insurance are designed to cover different types of risks, so separate policies are typically required.
A standard home insurance policy usually doesn’t provide the protection a business needs — especially for things like business interruption, which can cover lost income if your operations are disrupted. While some business contents may be partially covered under a home policy, this is often limited and may not reflect the true value of your business assets.
If clients, customers, or suppliers visit your home for business purposes, you’ll also need public liability insurance. Personal liability coverage generally won’t respond to claims or legal costs arising from business activities. In fact, most home insurance policies specifically exclude commercial liability risks.
A commercial insurance policy ensures your business is properly protected, whether you work from a home office or operate a larger organisation.
Construction insurance
In most cases, yes. Standard home and commercial property insurance policies do not typically cover construction-related work, such as renovations, extensions, demolition, or other contract work taking place on your property. Construction insurance is designed to fill that gap, providing coverage for the property or structure while it’s under construction, as well as the existing building while in a contractor’s control.
Construction insurance can also include public liability coverage. If a member of the public is injured or killed, or their property is damaged because of your team’s negligence during construction, your policy can pay for court-awarded damages and legal defence costs, up to the policy limit.
In most cases, yes. While subcontractors may have their own liability insurance, it’s important to understand exactly what their policies cover.
Subcontractor policies often have lower liability limits than you may need, or cover only the subcontractor — not you, your business, or the property owner.
To avoid gaps in coverage, it’s important to have your own insurance in place. Construction all risks insurance helps protect your business — or your property — regardless of the limits or restrictions of your subcontractors’ policies.