What to do if you're having trouble getting insurance

Whether it’s for your home, car, or life, there are many reasons to get insurance. Here’s what you need to know if you have trouble getting insured.

You know it’s something you need, but when you have trouble getting insurance, it can feel like you’re left with no choices. Don’t let that get you down. There are many legitimate reasons why you are having trouble getting insurance for your house, car or life insurance. You still have options; you just have to know how what they are. Here are some things to keep in mind if you find yourself in a bind.

What to do if you're having trouble getting insurance

Why you need insurance

As a Canadian citizen, insurance coverage is just a part of everyday life. You have insurance on your home, your car, your trip, even your entire life. Whatever it is that you're getting insurance for, it’s so that in the case of an unfortunate incident, you are covered through some sort of financial pay out. This payout is meant to cover you for your loss.

Denied insurance

If you've previously obtained insurance from a provider, being denied coverage can be frustrating. You may have received notice that your coverage has been cancelled, or notice that your maturity date is approaching, but you will no longer be extended coverage past that date. There are reasons why you're now being denied insurance coverage. If your provider has not told you the reason, you have the right to know. Common reasons for being denied insurance include:

  • You’ve failed to keep up with your payments.
  • Your claim frequency greatly exceeds your limits.
  • You’ve filed for bankruptcy or are entangled in other risky financial situations.
  • You’ve displayed risky activity like frequent automobile accidents.
  • Pre-existing medical conditions.

What you can do about it

Once you’ve figure out the reasons you are being denied insurance, you can start figuring out how to get insurance. In some circumstances insurance is required by law. For example, you can’t drive your car without it. It's the law in Canada that every driver on the road is insured. If this is the type of circumstance that you find yourself in, you can actually contact some non-profit, or government sponsored services to help on your behalf. These services are usually free of charge.

You can also try contacting an insurance broker to work on your behalf to find you coverage that meets the minimum required under the law. Just note, some services require proof you’ve been denied insurance a number of times, so remember to keep records of your denials. These specialists are trained to find you an insurance solution.

The material on this website is provided for entertainment, informational and educational purposes only and should never act as a substitute to the advice of an applicable professional. Use of this website is subject to our terms of use and privacy policy.
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