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Curious Canadians · The details

How to compare insurance

Make the comparison about the same risks.

Write your brief first

List the people, activities, property and locations you want to discuss. Include contracts that require insurance and the details of any current policy. This gives each provider the same starting point.

Compare like with like

Put the named insured, activities, limits, deductibles, exclusions, territory and effective dates side by side. Check whether a lower price comes with different protection or conditions.

Ask about the practical experience

Find out how to contact the provider, report a change, obtain evidence of insurance and report a claim. Ask who will actually issue the policy and service it.

Confirm before replacing a policy

Ask how the transition affects any reporting deadlines, waiting periods, prior acts or continuity of cover. Do not assume a new policy automatically replaces every aspect of the old one.

In Canada, ask about the rules and provider availability in your province or territory. Financial Consumer Agency of Canada · Life insurance ↗

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