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Guides10 min readUpdated 2026-06-01
Insurance Glossary: 40 Terms Every Ontario Consumer Should Know
Plain-language definitions of deductible, endorsement, DCPD, replacement cost, FSRA, and 35 more common Ontario insurance terms.
Coverage basics
Deductible — the amount you pay out of pocket before insurance pays. Endorsement — an add-on that modifies your base policy. Rider — a life-insurance term equivalent to an endorsement.
DCPD (Direct Compensation-Property Damage) — your insurer pays for damage to your car when another driver is at fault, in Ontario. Replacement Cost — pays to rebuild/replace without depreciation.
Regulators & consumer bodies
FSRA — the Financial Services Regulatory Authority of Ontario regulates auto and home insurance and licenses brokers. GIO — General Insurance OmbudService for dispute resolution.
Frequently asked questions
What does FSRA do?
FSRA regulates Ontario's insurance industry, licenses agents and brokers, and enforces market-conduct rules.
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