Help & Support - Glossary

If you have an accident and the other driver is uninsured, this gives you coverage. It covers injuries, death, damage to your vehicle that the other vehicle is responsible for.*

*Not applicable in Quebec.

A settlement is usually a claim payment. It arises from an agreement between both parties to the policy contract as to the amount and method of payment.

All provinces in Canada require that all motorists carry vehicle insurance. Mandatory minimum coverages describe insurance coverage that is required by law and varies from province to province.

Underwriting is the process of evaluating a risk for the purpose of issuing insurance coverage on it.

All Perils covers your vehicle by combining Collision Coverage and Comprehensive Coverage with a common deductible. It also covers your vehicle for theft by a member of your household.

A deductible is the portion of a loss that you are required to pay before your insurance coverage activates. For example, if you owned a policy with a $300 deductible and you suffered a covered loss totaling $1,000, you would pay the first $300 and your insurance company would pay the remaining $700. If the loss was only $300, you would pay the entire amount and your insurance company would pay nothing. Generally, when you choose a higher deductible, your premium is lower.

Comprehensive Coverage covers your vehicle against loss or damage caused by such things as fire, theft, vandalism, falling or flying objects, glass breakage, or damage to your vehicle incurred while it is being transported. It does not include loss or damage caused by collision with another vehicle or object, upset of the vehicle, or in the event of a hit-and-run. This is optional coverage and is subject to a deductible.

These are options available to purchase additional or increased benefits and coverage.