How much is insurance for a new driver? + MORE Mar 24th

Third-party liability insurance is like other mandatory insurance coverages in Canada—easy to forget about on ordinary days. It’s when things go unexpectedly wrong that we’re thankful for the coverage that insurance provides.

Driving accidents often occur in the blink of an eye, and they can happen to anyone, even the most experienced and careful drivers. The worst-case scenarios, in which another driver is seriously injured or killed, can lead to prolonged legal battles involving a lot of back-and-forth with insurance companies. That’s why third-party liability coverage is such an important element of auto insurance policies.

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What does third-party liability mean? 

In Canada, liability basically means that an individual or a business can be held responsible for an action in the eyes of the law…

I paid $3,000 for wisdom teeth removal, and my employer only reimbursed $2,000. I’ve heard that any taxpayer who paid medical costs for themselves, a spouse, and/or dependents is eligible, as long as they were not reimbursed for the amounts by their insurance, an employer or any other source. Can I claim the $1,000 that I paid out of pocket on my taxes? —Houssein

Can you claim wisdom teeth removal on your taxes? 

Eligible medical expenses may qualify for a tax credit on your tax return. The medical expense tax credit is generally a non-refundable federal and provincial/territorial tax credit that is used to reduce your tax payable. 

You can claim medical expenses for which you were not reimbursed by an insurance plan (or by way of any other tax-free reimbursement) on your taxes. If these medical expenses were paid by you (or your spouse/common law partner) for either of you or for your children you should be able to claim them. (Note: This only applies if the children were under the age of 18 at the end of the tax year…

You might believe that all you need to do to hit the open road is pass your driver’s test and put your keys in the ignition, right? Wrong. All drivers in Canada, including new ones, must also obtain auto insurance before they can legally drive. So, how much is insurance for a new driver? If you or someone in your household has decided to get their driver’s licence, here’s what you or your loved-one can expect to pay for coverage. 

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How much does car insurance cost for a new driver? 

Many factors influence a new driver’s insurance premiums. Some of the main considerations include:

The driver’s profile: Demographic factors like age and gender influence premiums. Drivers under the age of 25 tend to pay higher premiums, because data from insurance companies suggests a lack of experience increases the risk of accidents…