Impacted by the Lynx Air shutdown? Find out how to get a refund for expenses made with your credit card.
Close important message.
Choose your settings
Choose your language
Insurance

How to Buy Insurance: Key Tips and Advice

January 23, 2018

Buying Insurance is no easy task. When you buy insurance, you are planning to buy an investment.

Before you make this grand investment, it’s important to take your time deciding and know what your specific insurance needs are. To help with the decision process we have composed a list of key questions and suggestions to consider when buying insurance:

What type of coverage do you need?

  • Are you looking for home or auto insurance? Or both?
  • What is the guaranteed replacement cost coverage for your home?
  • Do you have a home business? Are you looking to obtain a separate business insurance policy?

Will you be combining multiple policies together with one insurance company?

  • Are there any multi-policy discounts?
  • How many drivers are living in your household? How many have vehicles? Is there a multi-vehicle discount?
  • Will you be needing coverage for any motorcycles or seasonal vehicles such as snowmobiles or RVs?
  • Do you have cottage or a summer home which needs to be insured?

What will happen if you make a claim?

  • Will you lose any claims-free discount?
  • Will making a claim impact your rates?
  • Do you pay for an at-fault claim yourself?
  • Is there a homeowner’s deductible on every claim?
  • How do you make a claim? Can it be done online?

Additional questions you may want to ask:

  • Are these the lowest policy prices?
  • Can you save money by changing your deductible?
  • What are the cancellation rules?
  • Are there any extra incentives? For instance, 24-hour claim service and first accident forgiveness.

Buying insurance can be challenging. Be sure you have the right information, before making a purchase. Take time to compare different quotes. Find an insurance provider which best suits your needs.

Related posts


These tips are provided for information and prevention purposes only. They are general in nature, and Desjardins Insurance cannot be held liable for them. We recommend using caution and consulting an expert for comprehensive, tailored advice.

In Quebec, Desjardins Insurance refers to Desjardins General Insurance Inc. In Ontario and Alberta, Desjardins Insurance refers to Certas Direct Insurance Company, underwriter of automobile and property insurance.