Continue your Financial Literacy #SaveNProtect



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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