Insurance: who needs it – and when?

By Sally Praskey, Editor, Insurance Canada ConsumerInfo

When it comes to your list of interesting subjects, insurance probably ranks right up there with "101 creative uses for polyester." But the truth is, we all rely on insurance--just as we do polyester!--throughout our lives. Whether you've just passed your driver's test, moved into your own apartment, left home to attend college, bought a house, started a family, launched your own business from home, or made plans to travel outside Canada, you need insurance. Insurance protects you and your family, as well as your home and belongings. Without insurance, the economy would practically come to a standstill, because starting and operating any kind of business would be too risky--one fire and your livelihood would go up in smoke. In fact, you couldn't even drive a car, because a serious accident would wipe out all your savings. Nor could you borrow money to buy a house, as no lending institution would allow you to mortgage a property that wasn't insured....more

[ Excerpted from The Insurance Book: what Canadians really need to know before buying insurance, by Sally Praskey and Helena Moncrieff ]


Here you can open or download (right click menu -- save target us) "Facts of the general insurance industry in Canada" --> FactsBook2005.pdf [653 kb]