Buying home insurance in Canada: A beginner’s guide Feb 25th

There are more insurance options in Canada than you can shake a stick at! Stay on top of the best policies right here.
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RRIF and LIF withdrawal rates: Everything you need to know Jun 25th

At some point, a registered retirement savings plan (RRSP) is typically converted to a registered retirement income fund (RRIF). The latest you can defer the conversion of your RRSP to a RRIF is the end of the year you turn 71. This means that by December 31 of your 71st year, you need to either wit.... More »
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CPP payment dates in 2025, and more to know about the Canada Pension Plan + MORE Jan 3rd

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 »

How does rent from a family member or common-law partner get taxed? Jan 28th

A client of mine told me (Ontario) that his girlfriend moved in and is paying $1,000 per month towards household costs. They won’t be common-law for 3 years in Ontario. Would this count as tax free?—Hans There are a few considerations here for your client, Hans. I will break them down. .... More »

What to do when you get laid off Oct 15th

At 7.1%, Canada’s unemployment rate is the highest it has been in four years and people in a variety of sectors have been feeling the pinch. A job loss is difficult for a lot of reasons. On top of the personal feeling of rejection, there can be many decisions to make involving legal, tax, insuranc.... More »
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How Baker Tilly Toronto supports insurance providers in transition Oct 23rd

The insurance industry is constantly evolving, facing disruptions from technological advancements, intergenerational wealth transfers, market consolidation driven by private equity, and shifting regulations. For professional advisors like Baker Tilly Toronto, staying current in this business land.... More »

Home Insurance

Home insurance in Canada: A beginner’s guide
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By Renée Sylvestre-Williams on February 23, 2024Estimated reading time: 8 minutes

Home insurance is a form of property and casualty insurance that protects your home and personal belongings from damage or loss. It’s designed to cover events that are expected and predictable. This means it doesn’t offer coverage for regular home maintenance costs or even major expenses that are part and parcel of home ownership—such as replacing the shingles on your aging roof. In this guide, we’ll cover everything you could want to know about home insurance in Canada, from how it works to what it covers and how much it costs…

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