All about Canadian insurance. Learn the ins and outs and get the latest news.
Latest News
Kia Soul review: The best used small SUV + MORE Apr 29th
Fun, efficient and practical, the Kia Soul is a worthy addition to my list of the 10 best used cars in Canada.
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Canada’s best credit cards 2023 Jan 7th
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Best credit cards in Canada for 2023
Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required.
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What is term life insurance and how, exactly, does it work? May 27th
When it comes to conversation-starters, life insurance generally doesn’t rank in the top 10 topics. We get it—who wants to think about the end of their own life? But it’s important to know the ins and outs of life insurance coverage so you leave your loved ones financially secure in the event .... More »
What to do if you’re a victim of bank account or credit card fraud Jan 12th
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We have been defrauded of over $20,000 by someone who was able to make unauthorized e-transfers from our bank accounts. The bank has recovered a small portion of them, and it has refused responsibility for any more. I am at level three of the complaint process, and I am wondering how .... More »
How to fix bad credit history in Canada: 3 steps to boost your score + MORE Oct 3rd
In Canada, your credit score matters—a lot. A solid credit score is more than just a number. It opens doors to financial products, saves you money and improves opportunities for renting, car insurance and employment.
Negative marks to your credit score can happen because of different factors yo.... More »
What DCPD insurance means to you
– moneysense.ca
Direct compensation property damage, or DCPD, has nothing to do with your house and everything to do with your wheels. Part of the no-fault auto insurance system, it is a mandatory component of car policies in Ontario, Quebec, Nova Scotia, New Brunswick, Newfoundland and Prince Edward Island. The bigger question is: What does DCPD do for you?
What is direct compensation property damage?
This is the “phew” type of insurance. DCPD automatically covers your repair bills after an accident, and pays you directly when someone else causes a collision and damages your car. (Not exactly what you want to be dealing with after a car accident that that wasn’t your fault.) Your insurance company will then ask that driver and their insurance provider for reimbursement, so you don’t have to take on that hassle. It kicks in only when an incident happens in a province that has DCPD and it is one part of a basic no-fault auto insurance policy, which also includes the following:
What is direct compensation property damage?
This is the “phew” type of insurance. DCPD automatically covers your repair bills after an accident, and pays you directly when someone else causes a collision and damages your car. (Not exactly what you want to be dealing with after a car accident that that wasn’t your fault.) Your insurance company will then ask that driver and their insurance provider for reimbursement, so you don’t have to take on that hassle. It kicks in only when an incident happens in a province that has DCPD and it is one part of a basic no-fault auto insurance policy, which also includes the following:
Third-party liability insurance covers the damage to a person’s car or property, their medical care and, in the worst-case scenario, their funeral, when you cause an accident…
