Whether you are buying insurance for your home or things you own, FSRA’s role as a regulator is to ensure that those selling insurance are licensed and following the legislation for property and casualty Insurance. We protect your rights and review your complaints if an insurer is not following the rules.

property_1_opt.jpg
Image
Property and other

Common questions

question icon

How do I know if the company I want to buy insurance from is licensed?

We provide a list of licensed insurance companies in Ontario. Learn more

question icon

What questions should I ask an insurance agent or company?

Here’s a helpful guide you can use when talking to your insurance agent.

question icon

How can I reduce my home insurance premiums?

There are a few easy steps you can take that could help lower your insurance premiums. 

question icon

What is title insurance?

Title insurance protects residential or commercial property owners and their lenders against losses related to the property’s title or ownership. Learn more

question icon

What can I do if my insurance company has denied my claim or decline coverage?

Unfortunately, we cannot make an insurance company sell you a policy or mediate disputed or denied claims. We recommend you seek legal advice to resolve these issues.

Insurance agent and company responsibilities

Image
Property and other

General insurance agents and companies have obligations and responsibilities to you, the insurance buyer.

(Broker responsibilities are different. Visit the Registered Insurance Brokers of Ontario (RIBO) website to understand a broker’s responsibilities.)

Here is a handy guide to agent responsibilities:

  • Have a current license to sell insurance in Ontario.
  • Comply with the Ontario Insurance Act
  • Treat you fairly as a core component of their company governance and business culture
  • Have policies and processes to handle any complaints in a timely and fair manner
  • Protect your private information and immediately inform you of any breach. 
  • Agents must disclose to you in writing any conflicts of interest they may have.
  • Agents must successfully pass the qualifying exam conducted by the Insurance Institute of Ontario*

*Agents are exempt if they have a Chartered Insurance Professional designation.

Your rights and responsibilities

When you purchase a home insurance policy, you enter a contract which gives you the following rights and responsibilities:

rights

Rights

  • Understand and receive plain language explanations about your policy
  • Receive clear information about the claims process
  • File and resolve any complaints
  • Protection of your privacy
responsibilities

Responsibilities

  • Paying all premiums as outlined in the policy
  • Disclosing information about the value of your home and contents:
  • If you undervalue your home or contents when buying the policy, you might not have enough coverage
  • If you overstate the value when making a claim, your policy may be cancelled or voided
  • Disclose full and complete information on your home insurance application including:
  • Previous home insurance claims
  • Renovations or home-based business activities, no matter how small
  • Review the application thoroughly before signing and submitting

Understanding title insurance

It’s not mandatory in Ontario but it might something you need to consider. Click here for more information on this type of insurance.

Want help navigating property insurance or working with a home insurance agent? We have some helpful tips here.

Enforcement and monitoring

We take our responsibilities to protect you from misconduct or non-compliance very seriously. View our most recent enforcement and monitoring information for this sector.

Engagement and consultation

We work with a Consumer Advisory Panel that provides a consumer perspective on proposed FSRA policy changes. View our engagement and consultation information.

Useful resources

Insurance Bureau of Canada - Home Insurance
Established in 1964, Insurance Bureau of Canada (IBC) is the national industry association representing Canada’s private home, auto and business insurers.