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If you’ve lived in Manitoba long enough, you’ve probably heard a few “insurance myths” passed around. Some of them are even convincing. But they’re also flat out wrong. So, we’re going to help you figure out what’s what!
From car colour conspiracies to the idea that as a renter you don’t need protection, these myths can leave you unprepared for when life takes a sharp turn.
The reality is simple: Insurance in Manitoba is…unique. We have MPI handling basic auto coverage, a mix of private insurers offering optional auto extensions, and specialized insurance policies for everything from floods to cyber attacks.
Knowing what’s fact and what’s fiction could save you thousands of dollars and a lot of stress.
Here’s to the 6 myths we hear most often:
Here’s the truth: there is no law in Manitoba forcing you to have home or property insurance.
That said, if you’re buying a home with a mortgage, your lender will absolutely require proof of insurance before approving your loan. From their perspective, it protects their financial interest in your property.
But what if your mortgage is paid and you want to buy a home outright? Technically, you can skip coverage, but you’d be taking a big risk. Imagine a fire, flood, or even a break-in? Without insurance, you’re footing the bill for repairs and replacements. And here in lovely Manitoba, where severe weather and water damage climbs year after year, skipping coverage is a gamble few can afford.
So, yes, home or property insurance isn’t a legal requirement, but it’s the smartest form of protection you can have for one of your biggest assets.
It’s easy to assume hackers only care about governments or Fortune 500s, but the truth is, small businesses, not-for-profits, and even individuals and households are frequent targets.
For businesses, a single phishing email or ransomware attack can bring your operations to a standstill, hurt your reputation regarding security and privacy, and turn into a hefty bill. For individuals and households, the risks can be identity theft, stolen banking information, or even extortion scams.
And with remote work as common as it is now, a breach to your home Wi-Fi can harm both your family’s and your business’ or employer’s data.
Big or small, online, or off, if you’re connected, you’re at risk.
If you’re interested in learning more about cyber insurance for your business, look at our partnership offerings through BOXX Insurance: Cyberboxx Business and Cyberboxx Assist.
Many renters in Manitoba believe they’re protected under their landlord’s insurance policy, but unfortunately, that’s not how it works. Your landlord’s insurance covers the physical structure. It doesn’t cover your furniture, electronics, clothing, or valuables.
Renters or tenant insurance fills that gap by keeping your belongings protected and covering liability if you cause damage, even covering the expenses that come with being displaced if you need to move during repairs. And the best news? It’s super affordable – and convenient to purchase! If you’re interested in learning more about your options, you can buy online from our website or contact us, and one of our insurance consultants would be delighted to get you started!
It’s easy to think that if you’re a business owner and you have work-related belongings or equipment on your site, in your office, shop, or warehouse, that your insurance covers it all — but unfortunately, that’s not always true.
Without the right policy or add-ons in place, you could face major out-of-pocket costs if something goes wrong. Luckily, insurance experts — like our team — can review your business and find you a policy that covers all your needs or walk you through your existing plan and help you find gaps and means of filling them.
This myth refuses to die. The rumour is that red, black, or bright and flashy, coloured cars automatically cost you more to insure. But that’s just not true.
In Manitoba, MPI sets your basic auto premiums based on legitimate factors like:
Colour doesn’t factor in. The reason this myth sticks around can be attributed to the fact that some higher-risk vehicles — like sports cars that are often red — simply carry higher premiums. But that’s because of the vehicle type, not the colour of its paint.
“Pet insurance isn’t worth it.” We hear it a lot.
But our pets are more than just animals—they’re family. They greet us at the door, comfort us on tough days, and fill our homes with unconditional love. Just like we protect the people we love, our pets deserve that same care.
Plus, the reality is that vet bills are climbing at a steady rate, and pet insurance can actually save you from financial stress when the unexpected happens.
Emergency surgeries, broken bones, and chronic illnesses, even prescription medications, can cost hundreds to thousands of dollars. And without coverage it comes down to painful bills or painful decisions.
Pet insurance is just like your home or auto policy: You hope you don’t need it, but if you do, you have help managing the heavy load. For many families in Manitoba, peace of mind for themselves and their pet is worth a lot more than the monthly premium.
If you want to know more about pet insurance options, you can learn more through our partnership with Pets Plus Us or get a quote.
Insurance can be a confusing and overwhelming topic, but you don’t have to figure it out on your own. As insurance brokers, we work with you to compare policies across providers, explain policies in ways that help you better understand what you’re getting, and make recommendations that are tailored to your lifestyle, business, or budget needs.
Whether you’re looking to protect your home, business, car, pet — or all of the above — one of our insurance experts will help you avoid falling for the myths and find real peace of mind.
Insurance isn’t just paperwork. It’s peace of mind for the life you’ve built. If you’re ready to safeguard your home or property, give us a shout and we’ll get a personalized quote going.
Still have questions? We’re always here to help.
