Published on this website: October 19, 2026
A-Z Insurance · Information checked: 2026-10-11 · Original publication date unknown
When you first shop for auto, home or tenant insurance, prices and unfamiliar terms can make comparison difficult. Start with what you need to protect and what you could afford to lose, then review the coverage line by line.
Know the main types of protection
Auto insurance: separate required and optional coverage
Ontario’s standard auto policy includes third-party liability, statutory accident benefits and uninsured automobile coverage. The legal minimum third-party liability limit is $200,000; whether you need more deserves a separate discussion. FSRA’s standard-policy guide
Since July 1, 2026, standard medical, rehabilitation and attendant care benefits remain mandatory, while other accident benefits are optional. Existing renewal benefits and limits have continuation protection unless changed by written agreement. An older coverage checklist may therefore misdescribe a new policy. FSRA’s 2026 reform fact sheet
Collision and Comprehensive are optional vehicle-damage coverages, although a financing or leasing contract may require them. Direct Compensation–Property Damage, or DCPD, is normally included, but since 2024 a written OPCF 49 agreement can waive the relevant recovery rights. Understand the consequences before considering that choice. FSRA’s OPCF 49
Home and tenant insurance: different responsibilities
Home insurance generally addresses the building, belongings and liability. Tenant insurance can protect your belongings and personal liability and provide eligible additional living expenses after an insured loss. Your landlord’s policy does not automatically insure your possessions or liability. IBC’s home and tenant coverage guide
Mistake 1: assuming the minimum suits everyone
A legal minimum, a contract requirement and your household’s needs are different considerations. Discuss rebuilding costs, valuable belongings, liability exposures and the income or care you might need after an injury.
Ask your broker what each limit does. What happens if a covered loss exceeds it? Are there smaller limits for particular items? What would a higher limit cost? Someone else’s choice is not a substitute for reviewing your own circumstances.
Mistake 2: comparing only the price
Use consistent information and coverage when comparing quotes. Check limits, deductibles, endorsements, payment terms and discount conditions. Ask specifically about glass damage and temporary transportation under auto insurance, or the causes of water damage covered under a property policy.
A multi-policy discount may help, but compare the combined cost and protection rather than the discount percentage alone. A claim-free year also does not guarantee that your next premium will fall.
Mistake 3: ignoring the wording and later changes
Ask about exclusions, restrictions and notification duties. A practical example is more useful than a broad label such as “comprehensive.” FSRA recommends asking property-insurance questions about exclusions, replacement cost, deductibles and optional protection. FSRA’s property-insurance questions
Discuss changes such as moving, replacing a car, adding a driver, renting out a home, starting business use or undertaking major renovations. Unreported changes can have consequences, but not every change automatically invalidates an entire policy.
Finish with clear records
Confirm the insurer, effective date, purchased coverage and outstanding information. Keep quotes, policies, endorsements and important written replies. Use official FSRA or RIBO resources to verify the relevant seller’s licensing or registration. FSRA’s property-insurance guidance
Contact A-Z Insurance with your needs or current documents to work through the options.
Phone: 905-707-2929. Email: info@azinsure.ca.
This article provides general information checked on October 11, 2026, not individualized insurance or legal advice. Coverage, discounts, duties and claims outcomes depend on applicable law and the actual policy.