Home owners and tenants need property insurance. A homeowner's policy generally covers contents and personal property in situations where damage can occur. Insurable perils can include fire, lightning, theft, storms, explosions, water problems and smoke. Related types of protection can be purchased with property insurance including personal liability for homeowners and tenants and temporary accommodation insurance. Renters should ask about tenant insurance, and people who own condominiums and cottages need special insurance too.
Automobile insurance protects people and cars when they are involved in car accidents.
The cost of coverage varies. It depends on your driving record, your age, your sex and the make, model and age of your car. Government legislation affecting automobile insurance policies differs by province. Life insurance is a death benefit paid to your estate, a relative or someone special after you die. You choose who benefits, not the insurance company, but it's important to know that if you name your estate to receive your insurance after you die, the government will tax it immediately.