Insurance Made Easy

Buying insurance can be daunting and knowing what to buy just adds to the confusion. Having an understanding of what products are available, and your risk profile looks like, can help you make an informed and educated decision on what insurance offerings can best meet your needs.

There are many different types of insurance, some quite common, and some you may be less familiar with. There are 4 must-have insurance products that fit the needs of most consumers.

Auto Insurance

When you purchase a car you instinctively know that you need to purchase automobile insurance. Before you get behind the wheel, know that auto insurance is mandatory in Canada and must be in place before you hit the road. It’s important to understand how auto insurance works and know what insurance is necessary and what is optional. Your Insurance Broker can help you determine right coverage level for your needs and can explore different payment plans.

Property Insurance

This insurance provides coverage for where you live. The most common types of Property policies are:

  • Tenant Insurance: When you move into your first apartment, you may feel that because you’re only renting and you don’t have much “stuff”. But replacing all of your belongings can add up and be an expensive ‘out of pocket’ experience. Tenant Insurance is the best solution to prevent this from happening. In addition to taking care of replacing contents, tenant insurance also protects your legal liability and other people and their property. It is required by most landlords and will usually be noted in the lease.
  • Condominium Insurance: Your condominium building will have insurance which covers the common areas, such as the lobby, elevators, and pool area, along with the ‘shell’ of your unit. But what it does not cover is your personal belongings and any improvements and betterments you make to your unit. Condominium Insurance offers protection of your contents and any improvements you may have made to your unit, such as upgraded fixtures or cabinets. It also protects you in case you damage any of the other units (like if you have a flood which seeps into the unit below yours) or if someone gets hurt while visiting your unit.
  • Home Insurance: Home Insurance protects the physical structure of your home, along with your belongings, upgrades and other buildings on the property such as a detached garage or backyard shed. It also provides coverage if someone is injured on your property, and when you’re found to be legally liable for their medical costs or damages. Home insurance is a must when you’re finalizing your mortgage and is usually required by the lender.

There are other types of Property insurance that offer coverage for things like your rental or seasonal locations. Speak with your Broker to learn more.

Life Insurance & Critical Illness

Do you have children and/or outstanding financial obligations? Life Insurance and Critical Illness is a must and is designed to protect your family’s standard of life, should something happen.

Health and Dental

Additional Health and Dental coverage is available for those who don’t have employee plans, such as those self-employed. Coverage can be bought for the whole family too. Consider what coverage you may already have, if any, and the financial implications that would arise if something unexpected were to happen.

Now that we’ve covered off the most commonly known insurance policies, there are many other types of insurance products that can provide further security and peace of mind. Speak to your Insurance Broker, who can offer the trusted advice you need to ensure your possessions, and lifestyle, are perfectly protected.