November was
Financial Literacy Month and IBC is continuing to help Canadians “Save and
Protect.” They have an entire website dedicated towards understanding the tools
and services available to you. With 2014
right around the corner, this is the perfect time to improve your financial
savvy and ensure your assets and your future are protected in case of any
accidents.
We live in a
world where things happen that are beyond our control, cars collide, homes burn
down, businesses are vandalized, vehicles get stolen; and that’s just a bit of
what happens in our society today. This is why insurance is important to
everyone.
So what is
financial literacy? Financial
literacy is about understanding the risks you might face and the liabilities
you may be responsible for/costs you may incur if you didn’t have
insurance.
There
are simple steps you can do today to increase your insurance know-how and start
to better protect your assets and future.
·
Learn more about insurance. Building contingency plans for your
home, auto, business and understand any/all liabilities you might face in the
future in the event of an unforeseen accident.
·
Plan & Review. Set a date to call your
insurance provider and review your current insurance plan(s) to make certain
your coverage mitigates your risks in case of accidents. If you currently don’t have insurance because
you don’t own a home or just started driving, IBC can help with that too. Their
website has information for first time drivers and homeowners.
For
example, below are a few tips that can help with getting affordable insurance
if you’re a first time driver:
·
Go to driving school.
§
Some
insurers may offer a discount if you’ve completed a certified driver’s
education course approved by your Ministry of Transportation
·
When it comes to insurance, the car you drive does matter.
§
Some
models like four door sedans are less popular with thieves. A car with a lower
cost insurance rating will help keep your premium affordable.
·
On the honour roll?
§
Tell
insurers about it! You may be eligible for a reduced premium if you maintain a
certain average and provide transcripts as evidence.
And
finally, improve your IQ. Take the
insurance literacy quiz to find out how much you know about insurance and what
you need to know about insurance.
To learn more insurance please head over to www.ibc.ca
Disclosure: Although this post has been generously been
sponsored by IBC, the opinions and language are all my own, and in no way do
they reflect Insurance Bureau of Canada
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