Did You Know November was Financial Literacy Month? #SaveNProtect

Did You Know November was Financial Literacy Month? #SaveNProtect

November was Financial Literacy Month and CDL wants to make sure you and your loved ones know how to successfully improve your financial savvy. It’s very important to not only have insurance for different aspects of your life but to also make good decisions surrounding insurance purchases. No matter your age, young or old, it’s never too late to find awareness.

The simple fact of the matter is this: We live in a world abounding with risks of all types; therefore, it’s very important to insure the valuables in your life. Financial Literacy Month can help you be better informed and help save you money, by better understanding the ins and outs of their home, business, and car insurance, all of which will help you protect the things you care about.

According to some recent statistics, many Canadians reveal in a poll that they’re not current with the crucial information needed to make educated decisions regarding insurance.

50% of Canadians want to know more about home and car insurance and, more importantly, how it fits into their current financial plans. The majority also think that school systems should include the study of insurance into their curriculums, and we don’t disagree.

In honor of Financial Literacy Month, there are a few things you should keep in mind when looking to secure insurance.

First, test your knowledge about insurance with a quick insurance literacy quiz.

Second, learn more about insurance. The types of insurance, liabilities, plans/coverage to ensure you have the insurance that is right for you. Something as simple as shopping around, can help save you money.

Third, make a plan to add insurance to your household budget. The risks of not securing your home, auto or business is too high for you not to secure your family’s financial future.

And lastly if you have a car, you definitely want to have auto insurance—just ask our girl Lindsay Lohan (who has the tendency to crash Porsches).

  1. You could consider going to driving school, as some insurance providers will offer a reduced rate if you’ve enrolled in and complete a class of this nature.
  2. Don’t be afraid to shop around online and compare prices; NEVER go with the one you stumble across first!
  3. Are you a good student? Brag about it! You might just be eligible for a reduction in cost if you prove you’ve got a stellar set of grades!

Other factors that are important to keep in mind are the place in which you live, your driver’s history, the type of car, as well as your age and gender. There are a lot of factors that should be taken into consideration when attempting to gain reasonable insurance. We understand it can be overwhelming, but take this month to get a handle on all that boring financial stuff. You’ll thank us later!

Although this post has been generously been sponsored by IBC, the opinions and language are all my own, and in no way do they reflect Insurance Bureau of Canada.        

  • Pam W

    Understanding insurance is so important. We have a daughter with a rare illness and we are constantly having to stay on top of insurance changes.

  • ashj3nt

    My husband and I try to talk finances about once a month. he has a spreadsheet that is down to the penny for where we go and what is spent. It has saved us! Also I used to sell insurance… another headache, but a necessary one.

  • Karen Hewitt

    These are some great tips, I think we all need to learn more about insurance