Financial Literacy 1 in 2 Canadians wants to know more about home and auto insurance and how it fits into their financial plans. How Insurance Serves to Protect Your Valued AssetsConsumer protection is top of mind nowadays. With identity theft and other fraud schemes plaguing Canadians, governments are interested in helping consumers protect themselves against risk. Financial literacy helps educated, empowered consumers make smarter, more responsible decisions. By understanding how insurance works, and risk management best practices, you can use these important tools for financial planning.With additional knowledge, people can often reduce their insurance costs and improve the protection for their most valuable possessions – their cars, homes and businesses.Helping Consumers Make Informed DecisionsAs a member of the advisory council assembled by the Financial Consumer Agency of Canada, IBC plays an active role in looking at a range of issues including financial literacy. This is in addition to IBC’s ongoing consumer education, business and community outreach projects across Canada. Make informed decisions by increasing your insurance knowledge and accessing these IBC resources: Consumer Information CentresFraud AlertsKnow Your PolicyEvery November, IBC also supports national Financial Literacy Month with community events, partnerships with key stakeholders and public outreach activities. Related ServicesSeniors, New Canadians and TeensInsurance scam artists often prey on seniors. New Canadians may also be victimized by being sold discounted policies that turn out to be invalid.Financial Literacy MonthFinancial Literacy Month aims to empower Canadians with the knowledge, skills and confidence to make responsible financial decisions.Know Your PolicyA car collision, a basement damaged by water and a business interrupted by vandalism are risks that people face each day. After a loss happens, everyday life can change in big ways. Now is the time to Know Your Policy and better protect yourself. Useful LinksRisk Management (Auto)Risk management involves identifying and understanding risks. Whether you’re lending your vehicle or participating in a vehicle exchange, you can limit your exposure to risks through loss prevention techniques.Risk Management at HomeBuying home insurance protects your home and most valuable assets. By understanding common risks and taking action to mitigate those risks, you can prevent potential losses.Risk Management (Business)You can help control the cost of your insurance premiums and improve your business operations by adopting risk management strategies. Risk awareness and mitigation activities can add up to a safer workplace as well as positive brand recognition.Buying TipsInsurance is a significant investment. Before you purchase coverage, getting answers to key questions can help you make informed decisions.