17 home insurance myths to stop believing now Nov 12th

There are more insurance options in Canada than you can shake a stick at! Stay on top of the best policies right here.

Latest News

What it’s like to work with a financial advisor Apr 5th

If you’re like many Canadians, you’re probably weighing working with a financial advisor. Maybe you’ve just gotten married, started a business, expanded your family or come into an inheritance, or you’re planning your financial future as you approach retirement. A financial advisor can be.... More »

The best Aeroplan credit cards in Canada for 2023 + MORE Jan 19th

Spend Best cash back 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. Let’s get started .... More »

CPP payment dates in 2025, and more to know about the Canada Pension Plan Apr 2nd

In Canada, no retirement plan is complete without considering the CPP. Whether you’re approaching retirement or still several years away from it, the Canada Pension Plan will likely play a role in your retirement income. How big a role depends on several factors. You may have other questions, too..... More »

Attention, ESG investors: Canada’s biggest carbon-emitting public companies Jan 24th

The effects of climate change are a risk to Canadians and the Canadian economy in more ways than one. There are the direct issues, like fires, floods and storms, increasing in both frequency and intensity (plus threatening lives and homes, and raising home insurance premiums, too). There are financi.... More »

Why Offer Employee Benefits Feb 4th

What Every Small Business Owner Needs to Know The current labour market has shifted and is now in favour of the employee. Coming out of the pandemic, there are more jobs available than there are people willing to fill them. What does this mean to the average small business owner? In a nut shell, it.... More »

17 home insurance myths to stop believing now

– moneysense.ca

Home insurance can be a tricky topic, and if you’re not reading the fine print, you could be relying on widely-held insurance myths to inform your coverage decisions. Let’s take a look at the home insurance myths and get the facts straight.

Get personalized quotes from Canada’s top home insurance providers.Home insuranceRenters insuranceCondo insuranceYou will be leaving MoneySense. Just close the tab to return.

1.MYTH: You must have home insurance.

FACT: Is home insurance required by law? Unlike auto insurance, home insurance has not been made mandatory by the government. However, if you’re asking “Is home insurance required for a mortgage?” you’ll get a different answer. If you own the property and have a mortgage on it, often, your bank or lender will require that you hold an active home insurance policy and name them on that policy. If you do not own the property but are renting it, your landlord may require that you have renter’s insurance.

2. MYTH: If I am away on vacation, my house is covered…

Continue Reading On moneysense.ca »

Stay tuned for more Insurance wisdom brought to you by banks.ca!

Share