Survey: Most Canadians Don't Know Insurance Stuff

It’s official: Canadians don’t know their stuff when it comes to home, car and business insurance. So Insurance Bureau of Canada (IBC) is launching an entertaining campaign to give Canadians the information they need to properly protect themselves and their possessions. At the same time, IBC is providing free, downloadable software to help homeowners and tenants create a home inventory for insurance purposes. The innovative, web-based campaign is based on the findings of a comprehensive survey by POLLARA that discovered what consumers know and don’t know about insurance. Mark Yakabuski, president & CEO, IBC, said: “We have known for some time that consumers have a tendency to overestimate what they know about insurance, and the survey shows that Canadians have a long way to go in preparing themselves adequately against the loss of major possessions. We have, therefore, developed a targeted campaign to give consumers easy access to information to help them determine their home, car and business insurance needs.” The poll also revealed that many Canadians don’t know how much they have to lose when it comes to their possessions. It found that 95% of Canadians think it is important to create a personal inventory of possessions for insurance purposes, but only 35% report that they actually have such an inventory. In response to these findings, IBC is helping Canadians get a handle on their possessions with free, downloadable home-inventory software called, “Know Your Stuff.” It is now available to consumers at no charge on IBC’s Web site (www.ibc.ca).