How much insurance do you really need? Iqaluit NU
How much insurance do you really need?
(NC)-Most of us regularly review our investments, but can you remember the last time you reviewed your insurance coverage as well? Taking a more active role in managing your insurance policies can be confusing. In fact, a recent RBC Insurance®/Ipsos Reid survey indicated only one in four insured Canadians review their insurance coverage regularly and one third don't know if they have the right amount or type of insurance.
It's important to explore and understand how different types of personal insurance, including auto, home, life, health, travel, and creditor insurance can help provide the coverage you need. Here are some things to keep in mind when reviewing your insurance needs:
• Do you have a mortgage or loan? These debts are typically large and may be difficult to cover in the event of an unexpected death or disability. Products such as RBC Royal Bank® LoanProtector® and HomeProtector® products can help pay these debts if you're not able to.
• Are you a regular traveller? Consider an annual travel insurance policy, which can provide coverage for unlimited trips over a year.
• Most auto insurers provide discounts when you combine your home and auto insurance policies. Ask about these 'multi-line' discounts and find out whether there are other offers that might apply.
• Did you know your regular homeowners insurance may not replace valuable or collectible items - such as jewellery or art, if lost or stolen, unless you purchase additional coverage, sometimes known as a "schedule" or "rider"?
• Have you thought about how you and your family would cover daily expenses if you were hurt or had a serious illness and were unable to work? Critical illness or disability insurance can help cover some of these unforeseen costs.
There are many resources available to help consumers understand their insurance needs, such as the RBC Insurance Personal Insurance Needs Assessment tool.
For more information, visit http://www.rbcinsurance.com/insuranceneeds/ or call RBC Insurance at 1-888-526-2056.