Do you ‘Know Your Policy’ ?
OMG! We just love the new Know Your Policy campaign from the Insurance Bureau of Canada. It is shocking and surprising to see how many Canadians take more time to investigate anything other than their insurance before they buy it. I am #guilty – are you? We just love the campaign and it has gotten us thinking!!!
Here is my top 10 list of crazy things I do instead of understanding my insurance policy :
- I have spent more time looking for new shoes than understanding my insurance policy
- I have spent more time deciding on what to order from a takeout menu than understanding my policy
- I have spent more time deciding on the right type of lightbulb for my lamp than understanding my policy
- I have spent more time picking out a new colour of nail polish than understanding my policy
- I have spent more time picking a new cover for my iPhone than understanding my policy
- I have spent more time deciding on a coffee maker than understanding my policy
- I have spent more time deciding which throw cushions I should buy than understanding my policy
- I have spent more time finding the best price of groceries for the week than understanding my policy
- I have spent more time checking the weather than understanding my policy
- I have spent more time watching soap operas than understanding my policy
Insurance Bureau of Canada (IBC) is pleased to launch ‘Know Your Policy’, an online campaign designed to promote insurance literacy among Canadian consumers.
“A car collision, a home damaged by wind or hail and a business interrupted by vandalism or floods are risks that people face each day,” said Sally Turney, Vice-President, Communications, IBC. “After a loss happens, everyday life can change in many different ways. Now is the time to know your policy and better protect yourself.”
In a series of online tips and videos across Facebook, YouTube, Twitter, and Instagram, IBC will educate consumers on the importance of insurance, how to start a claim, how to buy insurance, and where they can go with insurance-related questions. This campaign will also help make sense of coverage limits, deductibles, and other complex policy items that all consumers should be familiar with.
“As consumers, we often invest a significant amount of time researching purchases for household or personal items than we do researching our insurance products,” added Turney. “For those who have insurance this campaign is designed to help consumers better understand why they should know what their policy covers. If you don’t have insurance for your car, home or business, now is the time to ask questions and protect your most-valuable assets.”
Consumers should contact their insurance representatives to review existing policies, or to start new ones. Consumers should also talk to their insurers about any questions they might have and to make sure they are properly covered. In addition, they can also contact IBC’s consumer information centres across Canada by calling 1-844-2ASK-IBC.
About Insurance Bureau of Canada
Insurance Bureau of Canada (IBC) is the national industry association representing Canada’s private home, auto and business insurers. Its member companies make up 90% of the property and casualty (P&C) insurance market in Canada. For more than 50 years, IBC has worked with governments across the country to help make affordable home, auto and business insurance available for all Canadians. IBC supports the vision of consumers and governments trusting, valuing and supporting the private P&C insurance industry. It champions key issues and helps educate consumers on how best to protect their homes, cars, businesses and properties.
P&C insurance touches the lives of nearly every Canadian and plays a critical role in keeping businesses safe and the Canadian economy strong. It employs more than 120,000 Canadians, pays $9 billion in taxes and has a total premium base of $49 billion.
SOURCE Insurance Bureau of Canada