How Insurance Works
What you need to know to help protect your most-valuable assets.
Understand the basics
We're here to help you understand how insurance works, so you get the coverage you need before you need it.
- Know your policy
- How to file a claim
- Code of Consumer Rights and Responsibilities
- Find the insurance that fits your needs
Know your policy
A car collision, a basement damaged by water or a business interrupted by vandalism are risks that many of us face each day. Understand how your insurance will respond before something unexpected happens.
How to File a Claim
Make sure you know how to make a claim when something unexpected happens. Whether you need to make an auto, home or business claim, all the information and forms you need are in one place.
Code of Consumer Rights and Responsibilities
Insurance companies, brokers and agents are all committed to safeguarding your rights when you shop for insurance or submit a claim following a loss. Understand what you’re entitled to and what you’re responsible for.
Find the insurance that fits your needs
Insurance is a significant investment. Before you purchase coverage, getting answers from a licensed insurance representative to key questions can help you make informed decisions. Asking questions will help you understand your policy purchase and avoid any misinterpretation.
35%
Small and medium-sized business employees who report receiving mandatory cyber security awareness training.
$42B
Claims paid out by Canadian insurance companies in 2022. See what other facts are shaping the insurance industry.
64+
Insurance companies across Canada are ready to help you protect yourself and your property from unexpected events. Discover how to find the insurance that fits your needs
Resources For You
We've collected a few more resources that may be helpful for you to explore.
What to do when severe weather strikes
Are you prepared to respond to a windstorm, flood or fire? We’ve collected all the information you need in one place to help you prevent, prepare for and respond to severe weather emergencies.
Trending News
Cyber Security
Is your small business liable if your vendor gets hacked?
Aug 23, 2025 | Written by AUGUST 22, 2025 | BY: MAHAN AZIMI, DIRECTOR, CATASTROPHIC AND EMERGING RISK POLICY, IBC
Severe Weather, Insurance 101
After the Storm: Insurance Essentials for Severe Weather Recovery
Aug 19, 2025 | Written by AUGUST 19, 2025 | BY: ROB DE PRUIS, NATIONAL DIRECTOR, CONSUMER & INDUSTRY RELATIONS, IBC
climate
Latest hailstorm in Calgary causes $92 million in insured damage
Aug 14, 2025 | AB
climate
Wildfires in Atlantic Canada: Important Insurance Information for Residents
Aug 12, 2025 | NL, NS, NB, PE
auto, Regulation
Rethinking Auto Insurance Rate Regulation in Canada
Aug 11, 2025 | Written by AUGUST 11, 2025 | BY: TREVOR FOSTER, NATIONAL DIRECTOR, POLICY, IBC
Cyber Security, Regulation
Harmonizing cyber reporting – A step toward more predictable regulation
Aug 7, 2025 | Written by AUGUST 7, 2025 | BY: SARAH HOBBS, VICE-PRESIDENT, POLICY, CANADIAN LIFE AND HEALTH INSURANCE ASSOCIATION & VIVIAN HUA, LEGAL COUNSEL, IBC
You might also be interested
How auto insurance works
Everything you need to know about auto insurance, from how rates are set and what coverage you need to where to get it and what to do when you need it.
How home insurance works
Your home is your biggest investment. Make sure it and your family are protected from unpredictable events.
Business insurance basics
Having the right insurance is essential for a business to survive and thrive in a marketplace that is full of both opportunity and risk. Make sure you’re protected against risk.