Personal Insurance is a cover that provides financial security to you and your family in the event of a serious injury or illness, loss of ability to earn, and total and permanent disablement or death.
Whether you own a house, condo or town house, your Bermuda home represents a significant investment. Beyond that, it is the place where you live, sleep and spend time with your family. Hopefully, your home is a safe oasis, a place where you can go to relax and get away from the demands of life. Regardless of what type of home you own, you need to protect it. Intrepidus can help. We offer several customisable homeowner’s policies through our network of insurance providers.
Protection for You
A standard homeowners’ policy protects more than the home you own. Most policies also include belongings cover as well as Personal Liability Protection for you and the family members who live in your home. These policies also provide medical payments for guests who are injured in your home. Since homes are as different as the people who live in them, we offer a variety of customisable options. Our brokers will work with you to set deductibles and limits that fit your home and your life.
Special Policy Options
In addition to standard coverage, we also offer specialised coverage based on your needs. Available extended and specialised Homeowner’s Insurance options include
- Scheduled Personal Property coverage
- Rental Property Insurance
- Landlord Liability coverage
- Vacant Home coverage
- Vacation or Seasonal Home Insurance
Your home is an investment. More than a monetary investment, it is an investment in comfort and security for you and your family. Let Intrepidus help you to protect the things that matter most. Get started today with a free online quote. If you have any questions or want to speak with an insurance professional, call our office during business hours. We look forward to getting you the coverage you need.
All residents of Bermuda need to have minimum auto coverage in order to legally own and operate a motor vehicle, but is minimum coverage enough? Intrepidus helps customers like you to navigate the confusing world of insurance and find affordable auto coverage to protect you, your vehicle and your passengers.
Everyone needs affordable insurance, but cut-rate Car Insurance may not be the most affordable product for you. One primary factor influencing the price of Car Insurance is the perceived responsibility of a driver. Several factors come together to influence the price of premiums, and the money necessary to cover deductibles. This as well as over-limit damage should also be considered as you shop for the right policy.
Bermuda law requires all drivers to carry Liability Car Insurance.Intrepidus offers auto coverage for your own vehicle as well as other insurance products to help you to get back on the road after an accident or other auto-related mishap. Available auto insurance options in Bermuda include:
- Third-party insurance to pay for third-party liability injury or bodily injury
- Comprehensive insurance to pay for non-accident-related damages to your vehicle
You need auto insurance, and you need coverage that you can afford. Get started today with a free online quote from Intrepidus. We look forward to helping you as you travel the road of life.
Travel Insurance policies in Bermuda cover five basic types of coverage:
- Medical expenses
- Loss or delays
- 24/7 assistance
This is the primary concern with most travelers.You invest money when planning a trip: plane tickets, cruise fare, tour packages, hotel rooms, charter fishing boats and golf greens fees to name a few. If these expenses are pre-paid and non-refundable, you risk losing your money if something goes wrong. Trip Cancellation Insurance reimburses you for pre-paid, non-refundable expenses if you need to cancel your trip before you depart.
Insurance companies provide a list of covered reasons for trip cancellation, an overview of typical covered reasons is below:
- Sickness, injury or death of you, a family member, or a traveling companion
- Hurricane damages your destination or cancels your flight
- Laid off from work or required to work
- Terrorist incident in your destination city
- Bankruptcy of your travel supplier
- Called for jury duty
This is only a partial list, but one can see it covers very common situations for cancelling.The most common reason is the first one: someone getting sick or a family member passing away.
Trip Interruption Insurance is similar to cancellation coverage, but it covers you while you are on your trip for any of the same reasons listed above.
If something happens and you are required to return home, insurance will reimburse you for the lost portion of your trip, as well as any additional expenses for the last-minute flight home.
Medical Emergencies Abroad
This is crucial, and often overlooked.
Most people think they are covered for medical emergencies if they already have existing health care insurance. However, for cruises, your health insurance from home may not cover you if you’re traveling on a foreign-flagged ship (which includes most cruise ships).
Medical Expense Insurance will cover you for accidents and emergency medical and dental care when you travel abroad.
Emergency Evacuation Insurance will pay for emergency evacuation expenses such as airlifts and medically equipped flights home, and oftentimes will transport you to the hospital of your choice for care. Evacuation expenses can be devastating.
An ambulance to the hospital, an airlift to a more adequate hospital, getting you back home on board a medically-staffed flight afterwards all add up. Evacuation expenses can easily cost in excess of $50,000.
Lost Bags, Delayed Bags, Delayed Flights
These coverages are for the “smaller things” that are nice to have. Again, the list is not complete but it will give you an idea of some additional coverages.
Baggage Coverage can reimburse you for:
- Your personal belongings if your luggage is lost, stolen or damaged
- Essential items until your delayed bags arrive, such as a toiletry kit, a swimsuit, or another change of clothes
Travel Delay Insurance provides reimbursement for additional expenses if your flight is delayed, such as an extra night in a hotel or a meal at a restaurant.
Phone Assistance 24/7 Worldwide
This is about having a ‘lifeline’ to call when something happens, such as a medical emergency, stolen baggage, lost passports or a cancelled flight. Every travel insurance company provides 24/7 support for all of these needs.
This service is most important when you have a medical issue.
24/7 Travel Assistance Services can help you:
- Locate the nearest adequate hospital
- Organise medical transportation
- Arrange for treatment and overcome any language barriers
- Organise transportation home
- Replace prescriptions in an emergency
In addition, non-medical assistance may include:
- Lost baggage search/stolen luggage replacement assistance
- Lost passport/travel documents assistance
- Travel information including visa/passport requirements
- Emergency telephone interpretation assistance
- Additional coverage with travel insurance
Additional travel insurance can also provide coverage for:
- Accidental death or dismemberment
- Hazardous Sports extends the medical coverage to cover activities like SCUBA
- Rental Car Collision replaces your personal insurance or the rental company policy
- Identity Theft provides services to help in the event of identity theft while traveling
Your Sports Insurance policy can cover you for:
- Sports Equipment
- Personal Effects
- Personal Liability
Whatever your sports business, if you own the sports equipment you use you may want to ensure that it is protected against physical loss or damage. You can purchase on a “New for Old” basis although there is a standard option to repair or replace the equipment.
Personal Liability Insurance
Your Sports Insurance provides the necessary Public Liability protection against compensation claims for a wide variety of individuals and organisations.
Your policy can provide:
- Legal fees incurred for defense against claims of negligence
- Damages or compensation awarded to third parties following successful claims
Your Sports Insurance policy will cover your personal effects should they be subject to a loss covered by the policy. Your personal effects generally include your clothing and personal accessories.
Condominium Insurance is unique. It covers personal property and liability, as well as any additions, alterations and improvements you make to your unit that are your responsibility based on the condo association agreement.
Optional loss assessment coverage is also available to protect you against certain assessments that may be levied by the association. For example, you would be compensated for additional living expenses incurred should you need to vacate your condo after a covered loss.
For a few more dollars, you can elect to carry Full Value Personal Property which ensures that you are reimbursed full replacement value without regard for depreciation after a covered loss.
Let Intrepidus help you find the right amount of coverage to suit your Bermuda Condo Insurance needs.
Protect Yourself and Your Guests
Your Condo Insurance policy protects you and your family members against bodily injury and property damage liability claims and any litigation that may result subject to the limits you select. In addition, you can select medical payments coverage which will pay for medical expenses incurred by a visitor who is injured at your residence regardless of fault. Various limits are available.
Find unique insurance that is right for your Bermuda condo. Contact us to identify the best combination of coverage, value and price for you.
We can help to make sure your Bermuda Condo Insurance continually meets your needs.
BOAT & WATERCRAFT INSURANCE
Intrepidus can help to make your time on the water relaxed and worry free. We will find you comprehensive protection that protects you, your friends and family, your watercraft and your boating equipment. The average boat costs less than a dollar per day to insure. You will enjoy being on the water even more when you aren’t worried about your safety, the safety of your passengers or your investment.
Do you know what to look for in a Bermuda Watercraft Insurance policy? Intrepidus can help you to determine the right amount of coverage that will meet your specific needs. Contact us today to get started.
Here are some items to consider when shopping for Bermuda Boat Insurance:
- Navigational Area: Know where you are covered in the water. Some insurance companies offer protection that covers you up to 75 miles from Bermuda.
- Agreed Value Coverage: Like cars, the value of watercrafts depreciate. Actual cash value policies can make it difficult to replace a boat that has been stolen or destroyed. This means that if your boat is a total loss, you will get the value that you insured it for, minus any deductible.
- Liability: Personal Liability Insurance provides coverage to boaters and boat owners in the event of an at-fault accident on the water. This coverage will pay to repair or replace the property of someone else’s boat as well as their medical care, lost wages and other costs incurred as a result of a boating accident for which you are at-fault.
- Medical Payments: Medical Payments coverage will cover the cost of needed care from an injury that results from a boating accident. This coverage is available from $500 to $10,000 and covers you, your passengers and water skiers/tubers, regardless of who is at-fault.
- Physical Damage Coverage: Physical Damage Insurance pays for the cost to repair or replace your watercraft, its motor, any permanently attached equipment and your trailer if it is stolen or damaged.
- Uninsured/Underinsured Watercraft Bodily Injury: Since Boat Insurance is not always mandatory, many boaters choose not to get it. If you are hit by an uninsured or underinsured boater and you are injured, this type of coverage pays for medical treatment, lost wages and other costs associated with the accident.
- Fuel Spill Liability and Wreckage Removal: Should your boat sink or be seriously damaged, there is a chance that it could leak oil or fuel into the water. As the boat’s owner, you are required by law to have this cleaned up, which can be time consuming and expensive without the proper insurance in place.
- Personal Effects: Your policy can provide coverage for many personal effects including clothing, cell phones, scuba/snorkeling, sporting equipment, and fishing equipment. Limits vary by state, so check with us for what is required in the state that you are visiting. Personal effects coverage does not include jewellery, watches or furs.
- Unattached Equipment Coverage:This pays to repair or replace equipment that isn’t permanently attached to your boat or personal watercraft, but is designed for use primarily on a boat. This includes items like lifesaving equipment, water skis, anchors, oars, fire extinguishers, tarps, etc.
- Emergency Assistance:The Emergency Assistance package provides coverage for towing, labor and delivery of gas, oil or a loaned battery if the watercraft is disabled while on the water.
Every need is unique – contact us today to find out how to get the best Boat Insurance coverage for you.
You have a lot of things that are important to you – from your clothes and furniture to your sound system, sports gear and computer– and you want to feel confident that everything you’ve worked for is not at risk.
Let Intrepidus help you to find coverage options that protect you, your family and your personal property.
What You Need to Know
Your renter’s policy covers your personal property against theft or damage subject to the limits and deductibles you select. The coverage applies even when you are away from home.
For a small additional premium, you can choose to carry full-value coverage on your personal property, which ensures that you will be paid the full replacement cost of items that are damaged or stolen without deduction for depreciation.
Protect Yourself and Your Guests
Your Renter’s Insurance policy also protects you and your family against certain bodily injury and property damage claims for which you are liable. Legal defense also is provided in the event that you are sued after a covered loss, subject to the limits that you have selected.
In addition, you can select Medical Payments coverage which will pay for medical expenses incurred by a visitor who is injured at your residence regardless of fault. Various limits are available. Let Intrepidus help you to find the right level of coverage to suit your insurance needs.
The Right Coverage, the Right Price
Whether you are starting out, between homes or downsizing, Intrepidus will help you to pick the Renter’s Insurance coverage that best fits your needs.
Having the right Life Insurance is pivotal in planning for the future of you and your loved ones. Life Insurance can help you to fulfill promises you’ve made to your family when you are gone.
Don’t leave your and your loved ones’ future to chance. Intrepidus can help you find to the right Life Insurance coverage and ensure that your policy continually meets your needs.
Life Changes. So Should Your Policy.
For each of our neighbours in Bermuda, the right Life Insurance will be unique and dependent on personal and financial needs. As your life changes, your Life Insurance coverage may need to change in order to adapt to your current needs. Some life transformations that may require a policy “tune-up” include:
- You recently married or divorced
- You have a new child or grandchild
- You have opened or expanded a business
- Your health or your spouse’s health has deteriorated
- You are providing care or financial assistance to a parent
- Your child or grandchild requires assistance or long-term care
- You recently purchased a new home
- You are planning for a child or grandchild’s education
- You are concerned about retirement income
- You have refinanced your home mortgage in the past six months
- You or your spouse recently received an inheritance
- You have a sizable estate
What You Need to Know
Intrepidus can help you to select the best Life Insurance coverage for your needs. There are several different types of Life Insurance products available – the most common include:
Term Life Insurance
- Term Life Insurance provides protection for a specified period of time. If you do not currently have Life Insurance, term can be a good place to start. It’s generally less expensive than permanent (whole) Life Insurance, and it is available in varying time periods with fixed premiums from a one-year (annual renewable term) to a 20-year (level term) period.
- Furthermore, Term Life Insurance is sometimes convertible to permanent coverage, providing you with flexibility as your needs change.
Whole Life Insurance
- Whole Life Insurance is a form of permanent Life Insurance that remains in force for your entire lifetime, provided premiums are paid as specified in the policy. Whole Life Insurance can be an investment opportunity, as many Whole Life Insurance policies also build cash value over time.
Universal Life Insurance
- Universal Life Insurance is a form of permanent Life Insurance characterised by its flexible premiums, face amounts and unbundled pricing structure. Universal Life Insurance can build cash value, which earns an interest rate that may adjust periodically, but is usually guaranteed not to fall below a certain percentage.
What type of Life Insurance is best for you? Talk with the team at Intrepidus. We can assist in identifying the best cover for you.
Advantages of Life Insurance
Having the right Life Insurance is essential to planning for your present and your future. Not only can Life Insurance provide assurance for your family after you are gone, many Life Insurance options offer other benefits and investment opportunities that you can take advantage of while you are living.
Life Insurance Death Benefit – When you pass away, your Life Insurance provides income (tax-free) to your named beneficiary or beneficiaries that can be used to pay funeral expenses, debt, tuition, estate taxes or virtually any financial need. Your policy can help to provide security for your business as well, by enabling partners to buy out the interests of a deceased partner and prevent a forced liquidation.
Living Benefits – The cash value growth of a permanent (Whole) Life Insurance policy is tax-deferred, meaning that you do not pay taxes on the growth of cash value, unless money is withdrawn. Loans or withdrawals can be taken against the cash value of a Whole Life Insurance policy to help with expenses, such as college tuition or the down payment on a home.
The right Life Insurance coverage for each and every one of our customers in Bermuda is unique. Talk with the Intrepidus team today to find out how to protect your family and your future with the right Life Insurance.
PENSION & SAVINGS
On January 1, 2000, a mandatory pension system was established for Bermuda. This pension system is governed by the National Pensions Scheme (Occupation Pensions) Act 1998 and its respective Amendments and Regulations, also referred to as the National Pensions Scheme or the “Act”.
For more information on this regulation please visit the Bermuda Pension Commission website at www.pensioncommission.bm.
The Act requires all employers to provide a retirement plan for their Bermudian employees.
Intrepidus can help you to choose the right plan for you and/or your employees. Some of the retirement and savings options available in Bermuda includes:
- Registered retirement plans
- Non-registered retirement plans
- Group supplementary plan
- Individual retirement plans
- Wealth builder plan
To review your retirement options, please contact us.