Question 1

What is a deductible?

Accepted Answer

A deductible is what you are responsible for paying if you are in a claim situation. For example, if your car insurance policy has a $1,000 deductible for collision and there are $5,000 in damages, you will pay the first $1,000 and the insurance company will pay the remaining $4,000.

Question 2

Do I need business insurance to drive to work?

Accepted Answer

If you're driving to your nine to five and don't have a pickup truck full of power tools, you most likely only require personal insurance. Talk to a broker to make sure!

Question 3

What is the benefit of an insurance broker?

Accepted Answer

An insurance broker knows insurance inside and out. When it comes to insurance, brokers don't go with a "one size fits all" approach. We know what questions to ask so we can find a solution that makes sense for you. The biggest benefit of going with a broker is having peace of mind knowing the things most important to you are protected.

Question 4

How do insurance companies determine premiums?

Accepted Answer

Insurance companies determine premiums in different ways. When it comes to car insurance, there are a lot of factors:

Your insurance history. How long you’ve been insured in the province you’re looking to get insurance in is one thing the insurance company considers.
If you’ve been in any accidents or if you’ve received speeding tickets, the insurance companies will take that into account.
How you use the vehicle is important. Is it for personal use, or is it part of your business?
Companies take into account how much you drive. If you have a long commute it could increase your rate.
Where you live is a huge factor in determining your rate.

When determining home insurance premiums, the factors are different:

Your claims and insurance history
Where you live
What coverages you’ve selected. When it comes to home insurance, there is a lot of optional coverages to consider which will affect the premium.

Insurance Basics

What is a deductible?

A deductible is what you are responsible for paying if you are in a claim situation. For example, if your car insurance policy has a $1,000 deductible for collision and...

Do I need business insurance to drive to work?

If you're driving to your nine to five and don't have a pickup truck full of power tools, you most likely only require personal insurance. Talk to a broker to make su...

What is the benefit of an insurance broker?

An insurance broker knows insurance inside and out. When it comes to insurance, brokers don't go with a "one size fits all" approach. We know what question...

How do insurance companies determine premiums?

Insurance companies determine premiums in different ways. When it comes to car insurance, there are a lot of factors: Your insurance history. How long you’ve been...

Get competitive insurance quotes in 5 minutes

1-800-598-2073

Call us

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Find Insurance By Province

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Insurance Basics

What is a deductible?

A deductible is what you are responsible for paying if you are in a claim situation. For example, if your car insurance policy has a $1,000 deductible for collision and...

Do I need business insurance to drive to work?

If you're driving to your nine to five and don't have a pickup truck full of power tools, you most likely only require personal insurance. Talk to a broker to make su...

What is the benefit of an insurance broker?

An insurance broker knows insurance inside and out. When it comes to insurance, brokers don't go with a "one size fits all" approach. We know what question...

How do insurance companies determine premiums?

Insurance companies determine premiums in different ways. When it comes to car insurance, there are a lot of factors: Your insurance history. How long you’ve been...

Get competitive insurance quotes in 5 minutes

1-800-598-2073

Call us

Site Compass

Find Insurance By Province

Extended Calling Hours

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Member of Intact Financial Corporation