Making an Informed Decision When Buying Insurance on the Internet
Websites or mobile applications allow you to purchase insurance online without having to speak to a certified representative. This idea appeals to you? Here are five useful tips to help you make an informed decision if you wish to buy insurance on the Internet.
1. Do business with a firm registered with the Autorité des marchés financiers
Always check if the website is operated by an insurance firm in the Autorité’s register. The firm’s name should appear on its home page. If in doubt, contact our Information Centre.
2. Talk with a representative
You always have the right to ask to speak to one of the firm’s representatives. At all times during the Internet transaction, you should be able to find how to contact a representative.
- If no representative is available, the purchase process may be paused until you speak with them, or
- you may continue with the purchase, but a representative will still contact you after your purchase.
Insurance sold by lenders and merchants: A special case
Some lenders or merchants will offer you loan, travel or replacement insurance over the Internet. Special rules apply to the product offer of these types of insurance. Consult our Insurance Offered by Lenders and Merchants page for more information.
3. Tell the truth
Answer all the questions before you buy your insurance. Misrepresentation could have consequences. For example, you could lose your right to compensation and then have trouble being insured elsewhere. If you are unsure about what information you need to declare, check with a representative or contact us.
4. Understand what you’re buying
Do you fully understand the coverage being offered to you? Have the exclusions been clearly explained and have all your questions been answered? If not, ask to speak to a representative before the end of the transaction.
5. You can change your mind
You have 10 days to cancel the insurance without penalty if you purchase insurance online on your own rather than with a certified representative.
The exception is coverage that ends in fewer than 10 days.
For example, Catherine is leaving on a five-day trip to Mexico. She bought travel insurance on the Internet from an insurance firm. Since her insurance policy will expire in fewer than 10 days, she can’t cancel it without penalty if she changes her mind.
Warning : Watch out!
Before cancelling, check whether you are covered elsewhere. When you cancel the insurance you purchased online within 10 days, the insurance is considered never to have existed. Pay particular attention to the effective date of your new insurance policy.
Documentation and Tools
Insurance Sold by Lenders and Merchants (PDF — 558 KB) Ce lien s’ouvrira dans une nouvelle fenêtre
Choosing Home Insurance (PDF — 3 MB) Ce lien s’ouvrira dans une nouvelle fenêtre
Choosing Life and Health Insurance (PDF — 581 Ko) Ce lien s’ouvrira dans une nouvelle fenêtre
Choosing Travel Insurance (PDF — 412 Ko) Ce lien s’ouvrira dans une nouvelle fenêtre