Insurance Quotes in Canada

Compare Insurance Quotes and Get the Best Rates

Instantly compare and get insurance quotes online. At MoneyWizard, we find you cheap rates and show you which plans to provide the most comprehensive coverage. We’ve scouted for you and bring you personal insurance quotes from Canada’s top providers. 

Whether you’re looking for the lowest rate or are interested in a specific sort of coverage, we have your back. The best part is that it only takes a few minutes! 

There’s no cost to you for using our services, and the average Canadian sees real savings after taking the time to compare insurance products. 

Your Guide to All Things Insurance

Insurance can be a tricky subject. If you’re scared, don’t worry. MoneyWizard is here to demystify the process. We wrote you a handy guide to help you understand all things insurance. We have the resources to answer all of your pertinent questions from the types of coverage available to tips on buying insurance policies. 

Types of Insurance

Did you know that different insurance products range from covering your car to helping you travel with peace of mind? Well, travel with peace of mind in the before times, also known as the pre-COVID era. Let’s dive into the world of different insurance products and understand why these policies exist, how they work, and what they tend to cover. 

Auto Insurance

Every Canadian with a motor vehicle has to have auto insurance. The penalties are hefty for uninsured motorists! Auto insurance helps protect you in the case of a collision and can also assist in other situations, such as having a flat tire.

Canadian motorists can apply for public or private insurance, depending on which province or territory your primary residence is located. British Columbia, Saskatchewan, Manitoba, and Quebec all provide public coverage options. Public insurance means you can purchase a policy directly from your government and supplement your coverage with a private one.

If you don’t live in one of these regions, never fear. There are a plethora of different private providers to choose from when signing up for coverage. Private providers compete over coverage and rates, which is why it is helpful to compare and find the one that best fits your needs. 

Home Insurance

Your home is often the biggest purchase you make. Unlike auto insurance, home insurance isn’t mandatory. But having a policy can certainly provide peace of mind. Home insurance offers a range of accident benefits, from house fire coverage to theft protection, for contents inside and out. If you don’t have house insurance, you’ll be responsible for 100% of the costs in the event of an accident or emergency. And if you’re shopping for a mortgage, lenders typically prefer applicants to have home insurance coverage. Because home insurance isn’t mandatory, the market is solely private, and several vendors compete for your business. Won’t it be great to compare packages and find the best one?

Life Insurance

Life insurance protects your partner and children in the event of a catastrophe. Many Canadians opt to get life insurance to demonstrate care for their families. Policies come in two forms: whole and term. Whole life insurance is paid for throughout one’s life and provides coverage at any time of an accident. Term insurance is bought at times of especially high-risk, when your loss would leave your family in extreme financial stress, and covers only a predetermined time. Most people think that life insurance is costly. It doesn’t have to be. By getting a policy when you are young and healthy, you can get rates whose benefits only compound over time. 

Travel Insurance

Travel insurance is probably the last thing you are thinking about when planning your tranquil getaway or international business trip. But all sorts of things can unexpectedly go wrong when travelling. How do you navigate a foreign medical system in case of an accident? What’s the formal process to follow if you lose your luggage in between your connecting flights? Travel insurance provides comprehensive coverage across all these situations to help you travel stress-free, whether you’re travelling domestically or abroad or for business or leisure. Travel insurance is solely private, and companies compete for coverage and cost. Let MoneyWizard alleviate this part of your planning and help you quickly and easily compare rates. 

Tips for Buying Insurance in Canada

  1. Do your research. Assess your needs and understand what type of coverage you need. Compare different policies to see what is and isn’t covered and how that affects cost. Review your budget and have an understanding of how much you can afford to pay. 
  2. Only buy from licensed insurers. There are many cases of insurance fraud. MoneyWizard only connects people with licensed brokers and insurance providers. 
  3. Plan ahead. Think about the upcoming financial year. If you can determine what sorts of insurance policies you need, you can often bundle your purchases through the same insurance provider and benefit from deep discounts. 

Insurance FAQ

How Does Insurance Work?

Insurance helps protect people from risks by allowing them to make small, regular payments in exchange for coverage in an accident. By paying financial institutions to accept liability over your situation, you are guaranteed payouts in an emergency or disaster. 

What is an Insurance Broker?

An insurance broker helps consumers assess their policy options and find insurance products that best fit their needs. Brokers do not represent insurance companies and primarily help consumers understand policy coverage and evaluate what sorts of risks might benefit from protection. They help customers make the right insurance purchases and hand over the transaction to insurance agents to complete the purchase. 

How to Buy Insurance Online in Canada? 

Now more than ever, it’s easy to buy insurance online in Canada. The digital environment and proliferation of the Internet have made comparing prices and coverage a breeze. After answering a few questions about your situation and sharing some personal information, insurance brokers will extract customized quotes from different providers to compare rates and coverage. When you find a policy that fits your needs, you will have the opportunity to connect with a licensed agent who will call you to review your quote and finalize your coverage. 

Can I Bundle Insurance Products Together?

Many consumers like to bundle insurance products together to see savings upwards of 25%. If you know you need both auto and life insurance, for example, you can bundle your purchase through the same provider. By purchasing different policies from the same company, you can benefit from deep discounts. It’s always important to make sure that you cover all of your needs in each of the separate policies before choosing to bundle your coverage.

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