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“Do I need to tell my insurance company about a house fire or flood that I fix myself?” Sep 28th
You had a fire or flood in your home. Now you’re thinking about trying to fix the damage without telling your insurance company so that your rates don’t go up.
In my experience, most homeowners have this moment after a loss event. It’s fine to think about it—but I would say, don’t think to.... More »
What is tenant insurance? Jul 30th
Tenant insurance, also known as renters or content insurance, is one of the costs of adulting that seems to have no payback. But the reality is that you can’t afford not to have tenant insurance. The cost of a policy (which can range from $15 to $50 a month) is a small price to pay when you consid.... 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 »
Compare high-risk auto insurance quotes for Ontario Feb 8th
The cost of auto insurance—which is required for drivers in Canada—can vary widely. Why? Because it’s all about risk. How risky your car is—is it prone to safety issues that could cause an accident? Is it a car-thief magnet? How risky your neighbourhood is—whether you live in an urban or r.... More »
BREAKING: Ontario Car Insurance Rates Increase + MORE Jul 22nd
Here at RateSupermaket.ca, we keep you in the loop of different ways to save, whether it be on your mortgage, through investments, or on your car insurance. The Financial Services Commission of Ontario (FSCO) has reported that Ontario car insurance rates have increased by 0.76 per cent on average..... More »
The costs of the Fort McMurray fire
– moneysense.ca
A wild fire rips through the forest 16 kilometres south of Fort McMurray, Alta., on highway 63 on May 7, 2016. (THE CANADIAN PRESS/Jonathan Hayward)When the wildfire struck outside Fort McMurray a year ago, Rocco Neglia was sitting in a regular office meeting across the country at the head office of his firm Economical Insurance, in Waterloo, Ont.
The latest news was initially positive, recalls the vice-president of claims. “I got an email that morning from our Edmonton office saying wind conditions were good and it looked like we would avoid complications due to the fire,” says Neglia.
“But then at about 1:00 pm, that forecast changed and the entire town was given evacuation orders. I kept looking at my mobile device and knew by midday that it would need a huge response from the insurance industry.”
In the end, in addition to bringing devastation on the lives of residents it would become the most expensive disaster in Canadian history and the impact continues to be felt on the local and regional economy…
