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If you've got a driver's license and drive a car, by law, you must have auto insurance.
If you own a home, you need to insure your property. Some landlords ask for proof of home-insurance.
Maybe you live in residence and your school offered property insurance - should you buy it?
Limit of Coverage and Deductible
Quality of the Insurer
How can you learn about the quality of your insurer? Check consumer reports - for example, JD Power's rating of insurers at https://canada.jdpower.com/.
If you work, your employer may have disability / life insurance policies in case something were to happen to you.
There are other types of insurance:
You can buy insurance as an individual or opt into a group insurance plan. Group insurance tends to be less expensive.
An insurance broker helps you shop around and find good deals. Should you use one or buy insurance directly from the provider?
When buying insurance, make sure to:
Click on the diagram to find out how insurance works.
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Specialized medicines, like dental and physiotherapy can be expensive. Insurance can help cover the cost - consider your options.
Insurance policies financially protect your person or property from specified loss, damage, illness, or even death.
If you've insured something, like your car, house, or health, you won't be financially liable if something bad were to happen.
An insurer will mix individual insurance risks into large pools. Each pool member will pay an equal share of risk through premium payments. This makes insurance more affordable for those with very high risks.
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