Whether you're buying your first car, renting an apartment, or running a business, insurance is a vital part of life in Canada. This guide covers everything you need to know about insurance types, how to choose a broker, and what's required in each province.
Canada offers a wide range of insurance products to protect individuals and businesses. Here are the main types of insurance available across the country.
Mandatory in all provinces. Covers vehicle damage, liability, and injury protection.
Read the full guide →Protects your home and belongings against damage, theft, and liability claims.
Read the full guide →Covers your personal belongings and provides liability protection as a renter.
Read the full guide →Comprehensive coverage for businesses including liability, property, and employee protection.
Read the full guide →Financial protection for your family in the event of death, with term and whole life options.
Read the full guide →Specialized coverage for commercial properties, fleets, and industry-specific risks.
Read the full guide →An insurance broker works on your behalf to find the best coverage at the most competitive price. Unlike agents who represent a single insurance company, brokers have access to multiple insurers and can provide unbiased advice.
Ensure your broker is licensed by your provincial regulator. Each province has a regulatory body that oversees insurance professionals.
Some brokers specialize in specific types of insurance (auto, home, commercial). Choose one that matches your needs.
Check client reviews and ratings. A broker with consistently positive feedback is more likely to provide quality service.
Your broker should be easy to reach and responsive to your questions. Good communication is essential during claims.
A good broker will advocate for you during the claims process and help ensure you receive fair compensation.
Brokers should provide quotes from multiple insurers so you can compare coverage and pricing.
Ready to find a broker? Search by city or compare brokers side-by-side.
Insurance regulations vary significantly between provinces. Auto insurance is mandatory in every province but the rules, minimum coverage, and providers differ. Select your province to learn more.
An insurance broker works independently and can offer policies from multiple insurance companies, giving you more options. An agent typically represents a single insurance company. Brokers advocate for you, while agents represent the insurer.
Auto insurance is mandatory in all Canadian provinces and territories. Home insurance is not legally required but is typically required by mortgage lenders. Other types of insurance (tenant, business, life) are optional but highly recommended.
Each province has a regulatory body that licenses insurance brokers. You can verify a broker's licence through your provincial regulator's website. AtlasBrokers provides links to each province's regulator on our province pages.
Insurance costs vary widely depending on the type of insurance, your location, coverage level, and personal factors. Auto insurance averages $1,500-$2,500 per year, while home insurance typically costs $800-$1,500 annually. Getting quotes from multiple brokers is the best way to find competitive rates.