GUARANTEE GOLD APPRAISAL AND RISK MANAGEMENT GUIDE. guaranteegold.com

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1 GUARANTEE GOLD APPRAISAL AND RISK MANAGEMENT GUIDE guaranteegold.com

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3 WELCOME GUARANTEE GOLD is committed to providing the highest level of customer satisfaction and insurance protection to help keep you and your belongings safe. The shield in our logo represents our unequivocal promise to protect the items and property you value the most. We proudly honour our commitments through exceptional claims handling and we look for coverage and preventative steps to help safeguard what s most important to you. Use the risk management suggestions in this booklet to conduct a review of your home. Follow the prevention, planning and practice tips, designed to help protect your possessions and keep your home safe. GUARANTEE GOLD has the expertise and capital to weather any storm to protect you from what life throws at you and is built for those who know what they value most in an insurance company. We focus on customers who know the value of quality insurance coverage, and we design customized programs to meet their needs. Backed by our financial strength as a Canadian insurer since 1872, we commit to delivering innovative coverage and the highest degree of customer satisfaction, ensuring our customers are always in the know. GUARANTEE GOLD is for those who know what they value most in an insurance company. For more information visit The Guarantee Company of North America. All rights reserved. Document contains general information and is not part of the policy. The terms of the insurance contract apply in all circumstances. guaranteegold.com 3

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5 TABLE OF CONTENTS YOUR APPRAISAL... 7 REPLACEMENT COST... 9 HOME RENOVATIONS SEASONAL MAINTENANCE SEASONAL HOMES PERSONAL VALUABLES FIRE SAFETY WATER DAMAGE PREVENTION GOLD WATERMARK GOLD WATERMARK INSTALLATION PROGRAM H 2 O APPRAISAL GOLD INFRARED DETECT GOLD I.D ICE I.D. ASSESSMENTS GUARANTEE GOLD MOBILE APP CLAIMS guaranteegold.com 5

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7 YOUR APPRAISAL GUARANTEE GOLD home appraisals are complimentary for our customers and help you understand the value of your residence by completing a thorough review of your interior and exterior property. Our valuation process provides a precise replacement cost by using the most current construction data that accurately reflects the unique features and finishes of your home. The appraisals are completed by one of our professional and experienced GUARANTEE GOLD appraisers during an appointment at your convenience. WHAT ARE THE BENEFITS OF A GUARANTEE GOLD APPRAISAL? Tailored recommendations to improve the safety of your home for you and your family. An accurate reconstruction cost of your residence to provide adequate coverage. Document the unique features and finishes of your home for reference in the event of a claim. INCLUDED IN AN APPRAISAL VALUATION ARE THE COSTS FOR: Architect, engineer, permit and design fees. Rebuilding costs associated with accelerated rates and timelines. Contractor s profit and overhead. Custom features such as built-in cabinetry, interior finishes, built-in appliances. Light fixtures, chandeliers and window treatments. Smart home automation including entertainment, audio, security and lifestyle technology. Basement foundations and footings. Heating, plumbing and electrical systems. Green and ultra-efficiency technology. Debris removal. guaranteegold.com 7

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9 REPLACEMENT COST GUARANTEE GOLD s home appraisal service will ensure that your home is insured to value and that you have adequate coverage in place in the event of a claim. There are many factors that affect the replacement cost of a home which are assessed during the appraisal process. The replacement cost valuation gives the cost to rebuild your home today, using materials of like quality and kind in addition to special localized conditions and unique construction features. Here are some of the factors that contribute to the replacement cost of your home: Complexity and rarity of features and finishes. Local construction conditions such as: complex or congested areas, weather delays and seasonal building, difficult access for machinery requiring more manpower, remote or island properties, overnight parking bylaws, hillside construction, labour or material shortages. Historical homes requiring specialized craftsmanship or material. Complexity of design relating to the form, layout and plan of a home. Renowned architectural/designer. Construction caliber of the material, features and craftsmanship. Exterior features such as: porches, porticos, breezeways, garages with living space, terraces, swimming pools and hot tubs. guaranteegold.com 9

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11 HOME RENOVATIONS If you plan to renovate or make additions to your residence, consider the following: HIRE QUALIFIED CONTRACTORS Get several quotes from qualified contractors and make sure they have references, proper permits and liability insurance in place. PORTABLE FIRE EXTINGUISHERS Use multi-purpose, type ABC model, minimum 10lb devices in your home. Place extinguishers in easy to access and visible areas on each level of your home such as kitchens, fireplaces, garages or utility rooms. KEEP ALARMS ACTIVE Smoke and battery detectors should remain alarmed throughout the renovation process. During active sanding and painting, the detectors should be covered with plastic shields to prevent false alarms. Remove plastic coverings promptly when work is not underway. KEEP SITE CLEAN & BRIGHT Install external site lighting and fencing and remove combustibles from the premises daily. INSURANCE Make sure the work being completed is covered by insurance. Talk to your broker about any planned renovations that will alter the value, use and occupancy of your home. DISCOUNTS Advise your broker of all monitored alarm systems and mitigation devices to ensure additional discounts are being applied. SPRINKLER SYSTEMS Depending on the scope of the renovation, consider the installation of a residential sprinkler system to prevent major fires and to qualify for discounts to your policy. guaranteegold.com 11

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13 SEASONAL MAINTENANCE Home maintenance routines change with the season. Be prepared with the checklist below: FALL Service the furnace and boiler systems. Clean chimney and flue. Remove debris from eavestroughs and downspouts. Trim branches near roofline. Clear exterior drain wells. SPRING & SUMMER Timed with spring forward, replace batteries for smoke, carbon and heat detectors. Have your air conditioner serviced by a licensed professional. Remove lint from the exhaust vent on external wall. Replace furnace filters. Clean and inspect the chimney after winter use. WINTER Clear furnace vent of ice and snow. Increase insulation/ventilation to avoid cold zones. Increase insulation between roof and rafters to avoid ice damming in eavestroughs. Install pipe insulation tubing on hot and cold water pipes. Keep combustible materials two feet from furnace/boiler. WHILE YOU ARE AWAY Set timers for lights. Employ smart home technology to monitor various systems of the home. Keep alarms activated. Maintain heating during the cold season. Schedule regular home visits and mail pick-up. guaranteegold.com 13

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15 SEASONAL HOMES Make the most of your seasonal residence by following these tips for opening and closing your home: OPEN Make sure that all land and water equipment is insured such as boats, water toys, outbuildings, boathouses and guest houses. Review water safety tips with your family and ensure there are adequate lifejackets and PFDs. Be aware of changes in water levels to prevent accidental collision with unseen hazards. Replace batteries and test all smoke and carbon monoxide detectors. For added security, use automatic timers or smart home technology for indoor and outdoor lights. Ensure road safety when using a trailer hitch by inspecting the lights, tires, brakes, bearings and safety chains before you set off. CLOSE Hire a property manager or arrange for someone to regularly check on your property and ensure they have your contact information. Keep seasonal vehicles winterized, secured and disabled during the off season. Keep boats and lifts covered and locked and outboard motors secured. Document belongings and the premises with a camera or video recording. Secure windows and doors and close curtains or blinds. Inspect roof for missing shingles, overhanging and dead branches and clean out eavestroughs and downspouts. Consider installing water mitigation devices such as battery powered and alarmed sump pumps, automatic water shut-off valves, backwater valves and centrally monitored moisture and temperature sensors. guaranteegold.com 15

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17 PERSONAL VALUABLES We ve got your personal valuables covered no matter where your travels take you. Here are tips to keep your finer things protected: CARE Fine art pieces should be kept away from direct heat sources and sunlight. Keep jewellery in individual soft pouches and padded jewellery boxes. Consider using a bank vault and inquire with your broker about related premium savings. Wine storage: keep it cool, still, dark and sideways for optimal long term aging. TRAVEL Consider leaving the most treasured items at home. Secure valuables and passports in the hotel safe or security vault. Use approved locks on your luggage for added security. Store official papers such as financial documents, insurance policies, birth and marriage certificates, passports and social security documents in a safety deposit box or in a fire proof safe at home. Store contents such as cash, jewellery, appraisals, collectibles, bullion, bonds, stocks, family heirlooms in a vault at the bank or secure safe in your home. HOME SAFES Consider installing a permanent fire and burglary resistant safe that is connected to the central alarm. Safes should be professionally installed and bolted down or secured into the walls or floor of your home. Safes should be certified by a known laboratory standards company (SP, UL or ULC certified and labeled) and carry a serial number. Take a video/photographic and itemized inventory of your home and contents. Keep an electronic back-up that is stored off site. guaranteegold.com 17

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19 FIRE SAFETY Be prepared for a fire emergency with the checklist below: SAFETY Prepare and practice an escape plan for your family. Establish a safe meeting place outside your home. Have two escape routes for each area of your home. Teach children how to safely exit in an emergency. Test your alarms on a monthly basis. Keep ABC rated, 10lb fire extinguishers near kitchens, garages, fireplaces and utility rooms. DETECTION Install a sufficient number of smoke detectors to ensure alarms are heard throughout your home. Approximately one smoke alarm should be installed for every 1000 square feet of living area. Consider installing smoke detectors adjacent to sleeping areas and in children s bedrooms. Have all smoke detectors interconnected to ensure the sound is carried throughout your home. Heat detectors should be used instead of smoke detectors in kitchens, garages and utility rooms where steam, fumes and dust may cause false alarms. FIREPLACE Always have fire screens in use for wood burning fireplaces. Store ashes outdoors in metal containers. Install chimney caps with wire mesh screens for all wood burning fireplaces. Book annual chimney/woodstove inspections and cleaning. Burn seasoned hardwoods to reduce creosote build-up. guaranteegold.com 19

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21 WATER DAMAGE PREVENTION Canada s increasingly unpredictable weather creates a growing number of claims events every year. The following are measures you can take to protect water from damaging your home: Repair cracks in exterior walls or foundations that can lead to water damage or mould in your home. Clear eavestroughs and downspouts from debris and seal them to prevent water seeping towards foundation walls. Direct downspout extensions at least four feet away from your home onto a permeable surface, i.e. your lawn. Grade your lot to gently slope away from foundation walls and adjacent homes to help prevent ground water infiltration due to pooling water. If your downspout is connected to the sewer line, engage your municipality pipe severance and capping program to disconnect your downspout. To address existing drainage issues consider installing weeping tile to help redirect pooling water away from your home. If your roof shows signs of deterioration or there are water stains on ceilings have a roofing contractor replace your roof. Ensure your roofing contractor inspects the condition of the flashing and seals around chimneys and skylights and makes repairs as necessary. Ice and snow along the roof line may indicate ice damming likely due to inadequate roof venting and/or insulation which can be determined by a roofing contractor. WHILE YOU ARE AWAY Drain and shut off outside faucet pipes. Install low temperature sensors in each heating zone and maintain heating during the cold season. Install water mitigation devices with the assistance of the GOLD Watermark installation program. SYSTEM LIFESPANS Another way to reduce water damage is to upgrade systems in your home when they have reached their typical lifespan.* Asphalt roof: years Appliances: years Hot water tank: 8-10 years Sump pumps: 10 years Window and skylight caulking: 5-10 years Replace all plastic hoses with steel braided *Check the manufacturers label to identify the date of the installation. guaranteegold.com 21

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23 GOLD WATERMARK Whether it is rapid thaw, overloaded municipal sewer lines or frozen pipes there are ways to engineer your home to reduce the chance of water damage. It is GUARANTEE GOLD s mission to address the water challenge beyond merely promoting water mitigation options and move to providing meaningful solutions for the many types of water damage that every homeowner s assets are exposed to. To meet this challenge, we have responded by designing mitigation solutions and prevention methods by establishing GOLD Watermark GUARANTEE GOLD s water mitigation program. What services are offered under the GOLD Watermark program? GOLD WATERMARK INSTALLATION PROGRAM A partnership between GUARANTEE GOLD and our preferred network of licenced plumbers for the installation of water mitigation devices. H 2 O APPRAISAL An appraisal designed to assess potential sources of water damage for the interior and exterior of your home and property. GOLD I.D. Infrared thermography consultations to detect small variances in heat that can diagnose moisture and potential fire hazards within the home. ICE I.D. ASSESSMENTS Street-side visual assessments to determine the presence of roofline ice dams and guidance on how to address the issue. GOLD MOBILE APP To plan ahead and pro-actively take safety measures to protect homes and belongings from harsh weather conditions. WATER EXPENSE COVERAGE Up to $5,000 to cover the costs for the installation of a water mitigation device correlating an eligible water related claim. To learn more about these services, please reference the subsequent pages in this guide. In addition, please speak to your broker about qualifying for the various services offered through GOLD Watermark. guaranteegold.com 23

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25 GOLD WATERMARK INSTALLATION PROGRAM The GOLD Watermark Installation Program provides GUARANTEE GOLD clients access to our partnership of a preferred network of licensed plumbers who can assist you with new installations or upgrades to existing water mitigation devices. Water damage has now surpassed fire as the leading cause of loss for homeowners in Canada. While water damage can originate from many sources, internal plumbing failure, appliance failure or burst and leaking pipes are the most common and costly. For this type of water exposure, the AquaTrip device is our preferred solution to offer protection for your assets. A first of its kind in the Canadian marketplace, GOLD Watermark provides a complimentary installation of an automatic water shut-off system, called AquaTrip in the homes of qualifying clients. WHAT IS AQUATRIP? AQUATRIP - AUTOMATIC WATER SHUT-OFF SYSTEM Automatic water shut-off systems stop the inflow of water to the home at the main water supply line when a water leak is detected as a result of a burst or frozen pipe or internal plumbing failure. Flow based systems monitor incoming water usage based on two preprogrammed settings, home and away. If the programmed levels are exceeded, a signal is sent to the device and the water shut-off valve is activated. Please contact your broker to see if you qualify for the installation of an AquaTrip device. In addition, we are pleased to offer all of our clients access to GUARANTEE GOLD s preferred installer network to assist with the installation of additional water mitigation devices. The following devices will protect your home from sewer back-up or weeping tile failure and will qualify you for credits on your policy. BACKWATER VALVE An automatic valve that prevents wastewater from overloading and main sewer lines from backing up into your basement. All mechanical backwater valves should be equipped with an audible local alarm to notify the homeowner to stop the use of water when the mechanism is engaged. SUMP PUMP DRAINAGE SYSTEMS These systems are effective for water damage prevention by discharging groundwater away from the home. Sump pumps should be equipped with both a battery powered back-up and be tied to your alarm system. Check with your local municipality to verify if a rebate program exists for sump pump or backwater valve installations. We also encourage you to speak with your broker about utilizing the GOLD Watermark Installation Program to arrange for installations of either device. guaranteegold.com 25

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27 WH ater 2O DAMAGE APPRAISAL mitigation devices In Canada, water damage is the leading type of loss that homeowners are exposed to. As a valued customer of The Guarantee Company of North America, we are pleased to provide you with a complimentary water assessment of your home. The GUARANTEE GOLD H 2 O Appraisal is designed to assess potential sources of water damage for the interior and exterior of your home, detached structures and property. It also describes pro-active measures on how to reduce your home s exposure to water damage. Our experienced and professional appraisers will periodically conduct these appraisals at a time that is convenient to you. Included in the H2O Appraisal will be water mitigation recommendations tailored to the following features of your home: Landscaping and drainage patterns of property, including driveway and non-permeable surfaces. Recommendations for water mitigation devices such as sump pumps, automatic water shut-off valves and back-water valves. Check street sewers in front of home are clear of debris. Condition of roof and skylights. Condition and location of water bearing devices. Use of steel braided hoses. Discuss past experience with basement flooding. Condition and effectiveness of exterior drainage including roof, downspouts and sump pump discharge. Condition of foundation and exterior cladding. Type, age and materials of plumbing systems. Speak with your broker about qualifying for an H 2 O Appraisal conducted in tandem with a GOLD I.D. Assessment of your home. guaranteegold.com 27

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29 GOLD INFRARED DETECT GOLD I.D. We're pleased to offer complimentary infrared thermography consultations using our specially trained in-house certified appraisers. Thermography uses infrared imaging to detect very small variances in heat that can diagnose moisture and potential fire hazards within the home. The GOLD I.D. program helps identify potential issues with a home's ventilation, electrical and mechanical installations and more. PROACTIVE MEASURES FOR THE PROACTIVE CLIENT There are many practical reasons to ask for a GOLD I.D. consultation: Current & post construction/renovation Heritage homes Post-claim analysis Structural and system anomalies Initial signs of damage or disrepair New home purchase Homes at greatest risk of water damage THE CONSULTATION Using the latest technology, we scan interior and exterior components of your home to reveal hidden issues. You can use the information to make decisions about the condition, maintenance and possible repairs relating to the following: Air and moisture infiltration Improperly installed insulation Electrical system anomalies Contact your broker to ask about qualifying for a GOLD I.D. Appraisal. guaranteegold.com 29

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31 ICE I.D. ASSESSMENTS While beautiful, icicles are a tell-tale sign that an ice dam may have formed on the roof of your home. GUARANTEE GOLD knows that prevention starts with awareness and one of the new complimentary services that we provide are ICE I.D. Assessments. Following a deep freeze or heavy snowfall, we conduct street-side visual assessments to determine the presence of an ice dam. We also outline simple measures to prevent water damage to insulation, ceilings, walls, foundations and home interiors to ensure a smooth spring thaw. WHAT ARE THE MAIN REASONS THAT ICE DAMS FORM? Inadequate soffit and/or roof venting Inadequate or damaged attic insulation Air leaks into attic space HOW CAN ICE DAMS BE PREVENTED? REMOVE Hire a seasonal maintenance company to carefully remove the ice and snow from your roof using manual or steam removal methods. INSULATE Hire an insulation company to assess the adequacy of the attic insulation and replace and increase as necessary. SEAL Hire an insulation company to identify and repair any sources of air leaks from the living space into the attic space (e.g. ceiling penetrations: around light fixtures, plumbing pipes, chimneys, access hatches). VENT Hire a roofing company to assess the adequacy of the soffit and roofline vents and install additional vents based on the square footage of your attic floor space. Inspect roof material to identify any damages and make repairs as necessary. Contact your broker to ask about qualifying for ICE I.D. Assessments. guaranteegold.com 31

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33 GUARANTEE GOLD MOBILE APP The GUARANTEE GOLD Mobile App is an extension of our strategy to help our customers plan ahead and pro-actively take safety measures to protect their homes and belongings from harsh weather conditions. From the palm of your hands, the GUARANTEE GOLD Mobile App provides you with timely weather alerts and related prevention tips, helpful resources, product information and more: REAL-TIME WEATHER ALERTS RESOURCE CENTRE BROKER FINDER ACROSS NORTH AMERICA AND RELATED LOSS PREVENTION TIPS CLAIMS HELP REPORT A CLAIM POLICY CHANGES CONNECT WITH US ANYTIME, ANYWHERE Download the GUARANTEE GOLD Mobile App on your smart phone or tablet now available in Google Play, Blackberry World, and itunes App Store. For more information visit guaranteegold.com 33

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35 CLAIMS GUARANTEE GOLD knows that it s not only how swiftly a claim is settled, but how quickly your life is returned to normal. WHAT YOU CAN EXPECT: A GUARANTEE GOLD claims adjuster will contact you within two hours of notification of your claim. Our staff is committed to communicating with you throughout the claims process to keep you in the know. We employ leading technical experts to ensure you have the most skilled team on your side. Our claims professionals take the time to listen and learn about the things most important to you and act upon them 24/7. WE ARE FLEXIBLE: GUARANTEE GOLD stands out as a leader in the industry by giving you the option of selecting the vendor to work with or to take advantage of our cash settlement option of full replacement cost. Our trusted partners who perform the work required to get you back on track, are best in class. You can rest assured they value the same high standards of quality and customer satisfaction as we do. Our leading edge policy wordings drive change within the industry and ensure unparalleled flexibility and satisfaction in the claims process. TO REPORT A CLAIM, PLEASE CONTACT YOUR BROKER OR REPORT IT TO US AT Do you have a question about our claims process in general? Contact us at ReportNewClaims@theguarantee.com guaranteegold.com 35

36 guaranteegold.com 2015 GUARANTEE GOLD is a registered trade name of The Guarantee Company of North America. All rights reserved. Document contains general information and is not part of the policy. The terms of the insurance contract apply in all circumstances