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Home insurance isn’t immune to inflation. Here’s how experts say you can lower those costs Jul 19th
Simply shopping around to different companies and double checking the coverages you actually need can save you cash at renewal time.... More »
10 travel insurance myths to stop believing now + MORE Feb 23rd
Travel insurance can be tough to understand, and if you’re not reading the fine print, you could be relying on inaccurate myths to inform your coverage decisions. Luckily, InsurEye, a Canadian insurance education site has compiled a massive list of 111 insurance myths that are out there. We’.... More »
Going on vacation? Here’s how to keep your home safe + MORE Jul 3rd
As summer kicks into high gear, many Canadians are planning to head out of town for a vacation, whether it’s a weekend at the cottage or a month-long tour of Europe. But getting that rest and relaxation can bring a new source of stress.
According to a Leger survey conducted for Allstate Insuran.... More »
What you need to know about third-party liability insurance in Canada Oct 10th
Third-party liability insurance is mandatory coverage for all drivers in Canada. It offers protection for drivers if they’re at fault in an accident and the other party is hurt or even killed. This is mandated at a provincial level, and all provinces require a minimum of $200,000 in third-party in.... More »
Condo maintenance fees: How much is too much? Jun 29th
Condos are a popular choice for many first-time homebuyers owing to their lower price point and access to amenities such as gyms and pools. But as well as a mortgage, condo owners are responsible for monthly maintenance fees that support operating costs for the building, among other aspects, and it&.... More »
Small SUVs do poorly in insurance industry headlight tests
– moneysense.ca
Small SUVs did poorly in new headlight tests performed by the insurance industry.
The Insurance Institute for Highway Safety says none of the 21 small SUVs tested earned its highest ranking. The Ford Escape, Honda CR-V, Hyundai Tucson and Mazda CX-3 performed best, but more than half the SUVs tested received the lowest ranking, including the Subaru Forester and the Audi Q3.
Best SUVs in Canada »
Mid-sized SUVs are just right »
The tests — which began earlier this year — measure the amount of usable light provided by low beams and high beams on straight roads and curves.
The institute says high-tech headlights such as high-intensity discharge lamps don’t necessarily perform better.
Expect automakers to upgrade their lighting soon. Starting next year, the insurance institute won’t give its coveted highest safety award to vehicles with poor headlights.
The best SUV for winter driving »
Best compact crossovers »
— The Associated Press
The post Small SUVs do poorly in insurance industry headlight tests appeared first on MoneySense.
What to Expect when Teaching your Children to Drive
– ratesupermarket.ca
It’s an exciting time for a teenager – the moment when they’re finally old enough to drive a car. If you’re a parent, however, it can be very stressful, especially if you’re the one teaching them. Imparting knowledge that you’ve learned over many years of being behind the wheel can cause a major shift in a parent-child relationship. But what matters most is remaining safe while you, your new driver, and all of your fellow drivers share the road.
What Happens with Your Insurance?
Provided your son or daughter already passed their learner’s test, they will automatically be covered under your insurance policy should an accident take place. In that case, however, you can expect your premiums to rise, especially if your child is between the ages of 16 and 24. This rate hike applies whether the individual is a learner or holds a full license because the insurance policyholder is lending both their car and their insurance to someone else.
Your increased premium will also depend on how often your child will be driving your car…
How to Save for a Home Down Payment by Investing
– ratesupermarket.ca
It’s something you have likely heard dozens of times before if you’re planning to buy a home: You must have enough saved up for a down payment! While it’s recommended you put down 20% of your new property’s value, you can technically go as low as 5% on the first $500,000 of the home price or 10% on any portion above that price. Homes prices over $1-million require a 20% down payment as a minimum.
But how are you supposed to come up with all that money? As a Millennial, it may seem like an impossible feat – especially if you’re trying to buy into a market like Toronto or Vancouver where the average home price is rising by hundreds of dollars each month. Fear not, there are ways to make your down payment, have your home and live in it too! And one of the best ways to come up with that cash is through investing.
Since any down payment less than 20% requires you to purchase mortgage default insurance, you want to try and put down as much as possible. You’ll have lower monthly mortgage payments and you’ll pay less in interest over time…
