Car and home insurance: coverage before price

The cheapest premium is not necessarily the right coverage. Compare quotes that cover exactly the same needs, and ask what is excluded; the difference shows up on the day you claim, not the day you pay.

1. Ask what car insurance is mandatory in your province and how you buy it; both differ by province. Understand the types: liability, accident benefits, collision and theft; and “comprehensive” does not mean everything is covered.
2. If you rent, know that the landlord’s insurance does not automatically cover your belongings. Look at tenant insurance and your liability, and check whether your lease requires it.
3. If you own, or have a condo, check the lender’s requirements and the condo corporation’s coverage alongside your own policy, so there is no gap between the two.
4. Where to buy: get written quotes from different companies and from a registered broker or licensed agent, and keep the limits and deductible the same in every quote so you can compare properly.
5. Tell the insurer about all drivers and how the car is really used, and whether you rent out part of your home or run a business from it. Ask about flooding, sewer backup and valuables; some risks need extra coverage.
6. Ask about a discount for bundling home and car, or for counting your previous driving experience. Choose a deductible you can afford, and compare the total cost rather than just the premium; if you have a religious concern, show the contract to an adviser you trust.

Caution: The policy decides what is covered, not this guide; read your policy before signing.

Bottom line: The cheapest premium is not necessarily the right coverage. Compare quotes that cover exactly the same needs, and ask what is excluded; the difference shows up on the day you claim, not the day you pay.

Last reviewed: 27 September 2026