Below you will find a glossary of terms that are commonly found on your home or car insurance quote within Ontario. The following definitions are intended for a general audience, and should be used as guides to understanding the services we provide.
If you have any further questions regarding the terms on your home or car insurance quote please contact us.
These benefits are received if injuries occur during a car accident. Additionally, should a fatality occur, the beneficiary will receive these benefits.
A formal request to an insurance company requesting a payment or reimbursement based on the terms of the agreed upon insurance policy. (Many times due to damages, such as car accidents.)
Certificate of insurance
An official document outlining your coverages which includes name of the insurer, the policy period, and the limitations of coverage.
This common car insurance quote term refers to the amount that you are responsible for before your plan covers any damages.
This protects you in the event of legal fees and claim settlements that are within the coverage of your policy.
All risk coverage
This type of coverage insures almost everything unless otherwise specified in your policy. All risk coverage is very common as it offers the most protection.
This type of coverage protects the structure of your home but not the contents.
Condominium insurance covers the inside of your unit as well as the belongings inside the unit.
This coverage includes protection of your personal property that is kept within your unit/home
This coverage pertains to covering damages to others where you have been found responsible. This includes for unintentional injury to the person or their property.