Planning the unexpected
An illness, an accident or a fire at home are unexpected events that can prove costly. There are several ways for you to prevent negative financial impacts on yourself and your loved ones.
For example, you can create an emergency fund that could allow you to live comfortably for at least three months without income.
You can use our budget table to help you plan such a fund.
Buying insurance could also offset substantial financial losses and ensure the financial security of you and your loved ones.
What type of insurance suits you?
Insurance products are as diverse and at times complex as consumers’ needs.
- Automobile insurance: Mandatory insurance that covers civil liability related to a vehicle. It can also cover damage or loss related to the insured’s vehicle.
- Home insurance: Covers your property and your civil liability.
- Life insurance: Pays out a sum of money when the insured person dies. The money paid by the insurer could be used by your loved ones to pay off the mortgage or maintain their lifestyle, for example.
- Disability insurance: Pays benefits to replace income lost due to illness or injury.
Your employer may provide you with group insurance that already covers some of your insurance needs. It’s worth looking into!
What to do if you have incurred a loss
If you incur a loss, you should contact your insurer as quickly as possible. See our tips to help you avoid problems when making an automobile insurance or home insurance claim.
Agents from the AMF’s Information Centre are available to answer your questions and help you in your dealings with the insurer.
Shop around!
Make sure you ask questions and compare products offered by various insurers. You could find significant differences in premiums.