you need to know about insurance in CanadaInsurance 

What you need to know about insurance in Canada

Adapting to a new country is not always easy. In addition to the need for housing and finding a job, you also need to be familiar with the regulations. In this regard, insurance is an important part of protecting yourself properly in the event of a glitch.

Auto insurance: mandatory if you drive

“Compulsory under the law across Canada, car insurance covers the owner and driver of the vehicle, passengers, pedestrians and property involved in a car accident”

This insurance is, however, under provincial jurisdiction. In Quebec, any vehicle traveling on public roads must be insured, explains Caroline Phémius, Public Affairs Advisor (BAC). The BAC is the association that represents the vast majority of property and casualty insurers.

In the province, it is the public plan that covers the bodily injuries of Quebec residents following an accident in the province or elsewhere, through the Société d’assurance automobile du Québec (SAAQ). “An amount of insurance is included when paying for a driver’s license,” says Phemius.

For their part, private insurers cover material damage to your vehicle and civil liability. The amount of mandatory minimum liability insurance is $ 50,000, but you can be insured for a higher amount. “We recommend one or two million dollars in third-party liability insurance. Thus, if you cause damage to others or you move outside Quebec [in the rest of Canada and the United States] you will be better protected, “advises Caroline Phemius.

Other provinces, other regulations

It should be noted that automobile insurance regulations differ from one province to another. In Ontario, for example, there is no public plan, and private insurance companies deal with both physical and bodily injury. Conversely, in British Columbia, the public system provides both.

Home insurance: a must

Although it is not mandatory when you rent, you should know that home insurance may be required by the owner. That said, it is highly recommended protection. For homeowners, the mortgage creditor usually requires the debtor to purchase such insurance.

“In addition to protecting your property and property, homeowners insurance also provides you with third party liability coverage in the event that you are held liable for any unintentional damage to someone else. For example, a fire that would have accidentally originated in your kitchen and would cause heavy damage to your neighbor’s apartment or even to the entire building, “says Caroline Phemius, or even if a visitor was injured at home . “Suppose a person slips into your poorly cleared steps and breaks an arm, and sues you in court. Your insurer will take care of your defense and the legal costs.

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