What insurance do I need to apply for when I first arrive in Canada?

1. Temporary medical insurance

First of all, new immigrants, international students, and visitors coming to visit relatives cannot enjoy Canada’s medical benefits during the first three months after landing. If you become ill during this period and do not have temporary medical insurance, you must pay your own medical expenses. Seeing a doctor in Canada is very expensive. You have to pay for everything from diagnosis fees, medical fees, examination fees to hospitalization fees.

In order to prevent the financial burden on your family when an accident occurs, the best way is to purchase temporary medical insurance before or when you land. Health insurance is actually not expensive. The premium for this type of insurance is calculated on a daily basis and varies based on age and amount insured. The lowest premium costs just over 1 yuan a day and includes all basic medical services. It is recommended that international students, visitors, or new immigrants who have not yet obtained Canadian medical insurance buy a temporary medical insurance as much as possible to cover unexpected medical expenses.

2. House Insurance

Usually only detached house owners purchase house insurance separately, while house insurance premiums for apartments and townhouses are included in the property management fee. The main scope of house insurance mainly includes:

House property insurance: House property insurance includes the house itself, private property in the house and temporary living expenses when rebuilding or repairing the house;

Part 1 Third-party liability insurance: refers to the occurrence of a third-party accident within private housing or land, and the insurance company can compensate according to the insurance contract.

3. Car insurance

After you settle down in Canada, you may start to consider buying a house or a car. At this time, car insurance and home insurance are what you are legally required to buy. When you buy a beloved car and are eager to drive it home, you must first insure your car before you can drive it away.

The content of car insurance in Canada is basically the same as that in China, but there are two major differences in car insurance.

First, if the driver has no accidents in the year, the premium can be discounted in the coming year, and the premium can be discounted by up to 43%; on the contrary, if the driver has an accident due to his own fault, the premium will increase in the coming year.

Second, the third-party liability insurance compensation amount in the insurance is 1 to 3 million Canadian dollars, and usually the insurer will choose 3 million Canadian dollars. Taking a new car worth 50,000 Canadian dollars as an example, if all basic items are included and the premium is calculated at a 43% discount, the vehicle insurance premium will be approximately 1,600 Canadian dollars per year.

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