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What kind of personal insurance can I get?
There are different types of insurance that can protect you, your assets or your family in various situations.
Here is a list of some types of insurance. You should always read insurance policies carefully before making the decision to buy. You should also compare different policies to get the right coverage at the best rate.
If you drive a vehicle in Ontario, you must have automobile insurance - it's the law.
If you must stop working because of
an illness or injury or a permanent disability, this insurance provides you
with a source of income and/or medical home care.
In Canada, the government provides basic health care to those who live here and who meet the eligibility requirements. You may need to buy private health insurance if you are not eligible for OHIP or if you need to pay for services that OHIP does not cover.
Homeowner or Tenant Insurance
If you are a homeowner, you should buy this type of insurance to protect your home (structure) and its contents. Depending on your situation, you may also get property insurance, title insurance, and/or mortgage insurance. If you are a tenant, you should buy tenant insurance (rental insurance) to cover your personal assets and protect yourself against damages to your apartment or others’ apartments (for example, if a fire spreads from your apartment to your neighbour’s).
Life insurance provides income benefits or a one-time payment to your survivors (for example, your children, spouse or other family members) when you die.
Travel insurance covers the cost of medical services that you use outside of Canada and that exceed the amount covered by provincial health insurance (OHIP). Travel insurance can also cover travel expenses caused by cancellations, lost tickets, lost or stolen passports and more.
For More Information
October 26, 2015