Many people receive their insurance policies and wonder what they really need to know. We’ve got those answers here.

Regardless of the type of insurance you require, your certificate of insurance contains some key information, including:

  • Policy number – you will need this when calling to make a change to your policy or report a claim.
  • Dates – the effective date and expiry date outlines when your coverage is in place.
  • Underwriter – another way of saying “insurer” or “insurance company”.
  • Insured – your name; the contract of insurance is between you and the insurance company.
  • Additional named insured – the name of a co-owner of a vehicle or property; they have the same rights as you.
  • Legal liability – you will usually see a coverage limit of $1 million or $2 million; it provides coverage for amounts you're legally responsible for if you unintentionally cause bodily injury or property damage to others.
  • Premium – the cost of your insurance policy.
For more information, visit our glossary or talk to your local Financial Advisor.