Canadians uncertain of what is included in home and auto policies
21% wouldn't report an auto accident.
August 9, 2011
The survey revealed 71% of Canadians admitted they are not very familiar with their home insurance policies, and 13% did not know if their home or tenant insurance covered them for damage caused by a fire, a basic coverage included in all home and tenant policies. Also, 54% stated they are only somewhat familiar with their auto insurance policy.
“While we understand insurance policies may not offer the most entertaining read, if people are not fully aware of what their coverage entitles them to or the process to make a claim, then they may not get the full benefits of the coverage when they need it most,” said Saskia Matheson, spokesperson for Allstate Canada.
Additional findings from the survey of 1,514 Canadian adults include:
- 21% of Canadians say after a collision they would simply fix the damage to their car and mail the invoice to their insurance company. It is the law, however, that you must report an accident within 24 hours to your insurance provider.
- 24% don’t know if they are covered for damage they cause in a car collision. This is standard coverage for all car insurance policies.
- 79% say they are covered for specific damage to their vehicle, but 48% of these people also say they don’t know if they are covered for cracks to their windshield. Specified damage coverage automatically includes coverage for cracked windshields.
- 54% do not know if they are covered if they have an auto accident while driving in the US. All Canadian auto policies will cover collisions that take place in the US.
- 35% don’t know if their car insurance will pay for damage or injury they cause in a collision.
- 45% are unsure or do not know if they are insured if someone slips on ice on their property.
- 18% know that if they cause accidental damage to a friend’s home that they are covered through their home insurance policy.
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